Yesterday. 2nd tower can be seen to the right of the first. Just about done with the podium so the tower should rise soon.
new website with a master plan map:
NEWS: details on 3 new towers are up on Brookfield’s website. This brings the total count of highrises to 5.
30 Story Tower
10,000 SF of indoor amenities
Comprised of 3 Buildings occupying a full city block:
> 40 Story Tower
> 30 Story Tower
> Low rise Building
20,000 SF of indoor amenity spaces
Another tower will likely start construction here in 2019!
Im pretty sure this is the location for the 3rd tower.
This deal refinances a portion of a previous $75 million land loan that ICBC provided to Brookfield in 2015 for its $59 million and $46.5 million purchases of two vacant sites on Commercial Street from development partner Park Tower Group, which owned them outright.
There was also a $45 million project loan included in the new package, which funds soft costs and construction, as well as a roughly $130 million building loan, according to sources with knowledge of the deal. The three-year debt package includes a one-year extension option, sources said, and it closed on December 20, 2018. The debt wasn’t brokered.
The quartet of international lenders split the $217 million evenly into prorated shares, sources said. Scotiabank acted as the lead administrative agent in the deal, representing TD Bank (Toronto-Dominion Bank) and Intesa Sanpaolo, who were brought in to participate in this construction financing following the initial debt supplied for the purchase of the sites.