TORONTO – (Realty News Report) – Hines, the Houston-based international real estate firm, has begun speculative construction on the timber-framed office component of its Bayside Toronto waterfront master-planned community.
The sustainable building will be called T3 Bayside, which stands for Timber, Talent and Technology.
“I am proud that our city is supporting projects like T3 Bayside that will not only enhance our Waterfront but contribute to our growing economy by creating new jobs and office and retail space,” said John Tory, Mayor of Toronto. “By working together, we can continue to make Toronto one of the most livable cities in the world.”
The first of two twin, heavy timber office buildings at Bayside Toronto, T3 Bayside will be constructed using an innovative and highly sustainable mass timber structure, designed with the goal of delivering a completely differentiated tenant experience. At full completion, the two T3 Bayside buildings will feature over 500,000 SF of next generation office space.
T3 Bayside is the latest in a global series of creative, mass timber workplaces built with Hines’ visionary concept. Phase One will bring 251,000 SF of commercial office space to Toronto’s eastern waterfront in early 2023, and feature 30,000-SF floorplates. The buildings were designed by internationally renowned firm 3XN, after the studio emerged as the winner of an international design competition. CBRE Limited is marketing and leasing of Phase One.
Hines was named the master developer of Bayside Toronto, following an international competition by Waterfront Toronto. Hines brought Canada’s leading condominium developer Tridel on as its exclusive residential development partner at Bayside. Hines and Tridel are responsible for the successful launch of four residential projects: Aqualina, Aquavista, Aquabella and Aqualuna. 3XN’s notable design for Aquabella marked the Danish firm’s first project in North America.
Once complete, Bayside Toronto will include two million square feet of new residential housing, including market condominiums and affordable housing, modern office space, shopping and restaurant destinations and cultural venues, along with a newly activated and engaging public realm.
“With the groundbreaking of T3 Bayside today, we deliver on the commitment we made to Waterfront Toronto and to the City of Toronto to bring employment use to the water’s edge,” says Avi Tesciuba, senior managing director, Hines.
Founded in 1957, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million SF.
June 27, 2020 Realty News Report Copyright 2020
File: Hines Starts Timber Building in Toronto. File (2) Hines Starts Timber Building in Toronto T3.