But by the end of it, I was just sad. As a lover of cities, it always makes me upset to see great buildings disappear. I think you too will be surprised at what I found.
The following picture depicts the north side of Front Street East, about 2 blocks east of Yonge Street. I don’t know what year it is, but look at how stunning these buildings are. It looks like Soho, New York meets some glamorous European capital.
Can you imagine what we could do with these buildings today?
If there’s any doubt in your mind that this is Toronto or that it’s Front Street East, take a look at the spire in the far left hand side of the picture. It belongs to the
But by the end of it, I was just sad. As a lover of cities, it always makes me upset to see great buildings disappear. I think you too will be surprised at what I found.
The following picture depicts the north side of Front Street East, about 2 blocks east of Yonge Street. I don’t know what year it is, but look at how stunning these buildings are. It looks like Soho, New York meets some glamorous European capital.
Can you imagine what we could do with these buildings today?
If there’s any doubt in your mind that this is Toronto or that it’s Front Street East, take a look at the spire in the far left hand side of the picture. It belongs to the
Toronto Board of Trade Building
, which used to sit at the north east corner of Yonge Street and Front Street. When it was built in the late 1800s, it was considered one of the first “skyscrapers” in Toronto. It was demolished in the 1950s.
Here’s a picture of the Board of Trade Building so that you can compare. Again, take a look at the spire.
For those of you who might not be familiar with the area, here’s a map to help you out. The Board of Trade Building is shown on the bottom left hand corner. And the buildings in the first picture are in the triangular land area between Wellington and Front.
Now, let’s fast forward to the late 1960s. Those same buildings shown in picture number one have been demolished and in their place is the following parking lot. It’s a bit less glamorous looking. There are still heritage buildings on the south side of Front Street, but the balance of the area seems to have been blown out. What a shame.
Finally, here’s an aerial view of the area. It’s also from the late 1960s or early 1970s. You can see the same triangular land area, with only the Flatiron Building still standing at the very tip of it.
Obviously the St. Lawrence Market has come a long way since the 70s. That triangular area has since become Berczy Park, which is actually in the midst of being completely revitalized, and all of those parking lots have been filled in. But I still can’t help but wonder what the neighborhood would be like today had we preserved all of those heritage buildings.
I think cities work best when you can figure out that delicate balance between preservation and progress. It’s not always the simplest approach, but as most things in life, the right decisions are often the toughest ones to make.
I’m sure this isn’t news to most of you. Cool loft spaces have been popular for years. But it’s interesting to look at how rents and vacancy rates have changed for these submarkets and product types over time.
Since 2002, average (net) asking rents for brick-and-beam buildings in the west end have gone from $16.12 to $22.23 per square foot. Almost a 38% increase. By comparison, office space in the core has gone from $28.40 to $32.38 per square foot. A 14% increase.
And if you look at vacancy rates since 2007, you’ll see that the character office market has really tightened up over the past 4 years or so. There’s growing demand for a limited amount of supply.
With the growth that the downtown core is seeing and with the rise of Toronto as a creative startup hub, I’m sure we’ll continue to see strong demand for this type of space. But there’s only so much of it to go around. So I think we’ll also end up seeing greater interest in the east side of downtown and also more interesting new builds.
Barcelona is one my favorite cities in the world. I love the intimate laneways in the old part of town. I love how La Rambla functions as a spine for public life in the city–even if it is pretty touristy. I love the weather and beaches. And I love that there’s a strong culture of art and design that seems to permeate all aspects of the city.
Over the weekend I found an impressive website called BIG TIME BCN, that beautifully maps out the city’s more than 2,000 years of building. It covers over 70,000 plots of land and, if you hover of them, it’ll tell you the age of the buildings. It’s similar to what was done here for the Netherlands. But the colors on this one seem very Barcelona to me.
Toronto Board of Trade Building
, which used to sit at the north east corner of Yonge Street and Front Street. When it was built in the late 1800s, it was considered one of the first “skyscrapers” in Toronto. It was demolished in the 1950s.
Here’s a picture of the Board of Trade Building so that you can compare. Again, take a look at the spire.
For those of you who might not be familiar with the area, here’s a map to help you out. The Board of Trade Building is shown on the bottom left hand corner. And the buildings in the first picture are in the triangular land area between Wellington and Front.
Now, let’s fast forward to the late 1960s. Those same buildings shown in picture number one have been demolished and in their place is the following parking lot. It’s a bit less glamorous looking. There are still heritage buildings on the south side of Front Street, but the balance of the area seems to have been blown out. What a shame.
Finally, here’s an aerial view of the area. It’s also from the late 1960s or early 1970s. You can see the same triangular land area, with only the Flatiron Building still standing at the very tip of it.
Obviously the St. Lawrence Market has come a long way since the 70s. That triangular area has since become Berczy Park, which is actually in the midst of being completely revitalized, and all of those parking lots have been filled in. But I still can’t help but wonder what the neighborhood would be like today had we preserved all of those heritage buildings.
I think cities work best when you can figure out that delicate balance between preservation and progress. It’s not always the simplest approach, but as most things in life, the right decisions are often the toughest ones to make.
I’m sure this isn’t news to most of you. Cool loft spaces have been popular for years. But it’s interesting to look at how rents and vacancy rates have changed for these submarkets and product types over time.
Since 2002, average (net) asking rents for brick-and-beam buildings in the west end have gone from $16.12 to $22.23 per square foot. Almost a 38% increase. By comparison, office space in the core has gone from $28.40 to $32.38 per square foot. A 14% increase.
And if you look at vacancy rates since 2007, you’ll see that the character office market has really tightened up over the past 4 years or so. There’s growing demand for a limited amount of supply.
With the growth that the downtown core is seeing and with the rise of Toronto as a creative startup hub, I’m sure we’ll continue to see strong demand for this type of space. But there’s only so much of it to go around. So I think we’ll also end up seeing greater interest in the east side of downtown and also more interesting new builds.
Barcelona is one my favorite cities in the world. I love the intimate laneways in the old part of town. I love how La Rambla functions as a spine for public life in the city–even if it is pretty touristy. I love the weather and beaches. And I love that there’s a strong culture of art and design that seems to permeate all aspects of the city.
Over the weekend I found an impressive website called BIG TIME BCN, that beautifully maps out the city’s more than 2,000 years of building. It covers over 70,000 plots of land and, if you hover of them, it’ll tell you the age of the buildings. It’s similar to what was done here for the Netherlands. But the colors on this one seem very Barcelona to me.
