{"id":12097,"date":"2019-04-06T09:33:09","date_gmt":"2019-04-06T16:33:09","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12097"},"modified":"2019-04-06T08:56:35","modified_gmt":"2019-04-06T15:56:35","slug":"high-rise-commercial-towers-to-be-erected-in-toronto-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/high-rise-commercial-towers-to-be-erected-in-toronto-vancouver\/","title":{"rendered":"High-Rise Commercial Towers to be Erected in Toronto &#038; Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">Major high-rise office projects accommodating more tech tenants and greater commercial investment volume are scheduled to commence soon in Toronto and Vancouver.<\/p>\n<p style=\"text-align: justify;\">Leading developers Allied Properties REIT and Westbank have announced that the construction of the office towers \u2013 which are predicted to \u201creshape\u201d these markets\u2019 downtown areas \u2013 will pave the way for greater tech industry presence in Canada\u2019s largest markets.<\/p>\n<p style=\"text-align: justify;\">Tech companies have been cited by observers like Marcus &amp; Millichap as a major pillar of stability form the office property sector.<\/p>\n<p style=\"text-align: justify;\">In Toronto, the 264-metre, 1.7-million-square-foot Union Centre building will be built near Union Station.<\/p>\n<p style=\"text-align: justify;\">\u201c[Union Centre] is a sign of what Toronto is becoming,\u201d Westbank chief executive Ian Gillespie told The Globe and Mail. \u201cThe city isn\u2019t just about finance any more. It\u2019s about everything: tech, culture and a variety of other pursuits.\u201d<\/p>\n<p style=\"text-align: justify;\">In Vancouver, Allied Properties REIT and Westbank will be erecting a 500,000 sq. ft. tower beside BC Place. This project is expected to become one of the city\u2019s largest office buildings so far.<\/p>\n<p style=\"text-align: justify;\">Tech\u2019s influence in Canadian commercial real estate has been predicted to grow even stronger in the near future, with major players like Microsoft, Google, and Amazon likely spending billions in office expansions and hire tens of thousands of new workers over the next few years.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/highrise-commercial-towers-to-be-erected-in-toronto-vancouver-255779.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">High-Rise Commercial Towers to be Erected in Toronto &amp; Vancouver<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major high-rise office projects accommodating more tech tenants and greater commercial investment volume are scheduled to commence soon in Toronto and Vancouver. Leading developers Allied Properties REIT and Westbank have &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/high-rise-commercial-towers-to-be-erected-in-toronto-vancouver\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-12097","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>High-Rise Commercial Towers to be Erected in Toronto &amp; Vancouver &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/high-rise-commercial-towers-to-be-erected-in-toronto-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"High-Rise Commercial Towers to be Erected in Toronto &amp; Vancouver &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Major high-rise office projects accommodating more tech tenants and greater commercial investment volume are scheduled to commence soon in Toronto and Vancouver. Leading developers Allied Properties REIT and Westbank have &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/high-rise-commercial-towers-to-be-erected-in-toronto-vancouver\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/04\\\/high-rise-commercial-towers-to-be-erected-in-toronto-vancouver\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"High-Rise Commercial Towers to be Erected in Toronto &#038; 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