South Financial Core – Major Businesses Headed South

Toronto’s Financial District is expanding south in a major major way, with over 6 million square feet of new office space expected in the next few years.

The “South Financial Core” is centered around York & Bremner where Telus (25 York) and PwC (18 York) have already set up shop in towers that added almost 1.5 million square feet (Telus House – 780,000 sq.ft.; PwC Building – 700,000 sq.ft.) in the last couple of years.

Telus House was one of the first office buildings to be completed in the new South Financial Core and many new office buildings and jobs are expected to follow

Residential development was not far behind with ICE Condominiums, Infinity, Ten York and Harbour Plaza Residences set to join Maple Leaf Square in the budding neighbourhood.

Proximity to Union Station, Air Canada Centre and the underground PATH network are obvious reasons for the growth of this area which could add an incredible 6 million square feet of brand new office space in the coming years.

Three major towers are already under construction and include 120 Bremner Blvd (Will include up to 700,000 sq.ft. of space where it is understood that Apple Canada will be a tenant), RBC Waterpark (to include up to 885,000 sq.ft., 565,000 sq.ft. of which will be occupied by RBC) and One York which will become part of the Harbour Plaza complex by Menkes which will add almost 800,000 sq.ft.

RBC Waterpark III is a state of the art, Platinum LEED Certified building currently under construction

One York by Menkes will be part of the Harbour Plaza Complex that will feature two residential towers.  It is under construction

In addition, four office towers are currently in the proposal stage and include 16 York (up to 800,000 sq.ft. by Cadillac Fairview), 45 Bay Street (up to 1.6 million sq.ft. by SITQ), 30 Bay Street (800,000 sq.ft. by Oxford) and 171 Front Street (693,000 sq.ft. by Allied).

The growth of a new financial core highlights the incredible pace that Toronto is growing with thousands of new jobs being created or re-located into the City of Toronto.

The latest residential project to take advantage of this rapid growth is Harbour Plaza Residences which will be located in the heart of the new South Financial Core and will feature direct access to the underground PATH network.  The residential portion will feature two 60+ storey towers that will feature incredible access to the new office space and amenities in the South Financial Core.

Harbour Plaza Residences will be an incredibly popular building because of the proximity to thousands of jobs and key Toronto amenities

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