Menkes Waterfront Community
July 12, 2016
Menkes Developments is proud to announce its plan to develop a landmark mixed-use community in the waterfront district of downtown Toronto in partnership with Greystone Managed Investments Inc. and Triovest Realty Advisors Inc. This vibrant new community will include employment, retail and residential uses anchored by a two-acre public park, and represents an exciting expansion of the downtown core in the form of a true live-work-play destination.
The proposed Menkes Waterfront development will include a 24-storey, 600,000 square foot office tower, 300,000 square feet of commercial retail space, and a new residential community. This new community will be anchored by a two-acre park with retail, envisioned as an active use space that will serve both the new community and the larger downtown core population.
LCBO will be a major tenant of the proposed Class “AAA” office tower located at 100 Queens Quay East, and the ground floor will feature a 25,000 square foot flagship LCBO retail store, replacing the current Queens Quay store. The new office tower has been designed by B+H Architects, with the objective of achieving the highest standards in environmental sustainability by striving for LEED Platinum certification, an internationally-accepted rating system that recognizes excellence in the design, construction and operation of green buildings.
“There is strong and growing demand for new, high-quality office space in downtown Toronto,” said Peter Menkes, President of the Commercial / Industrial Division of Menkes. “Corporations and their employees have a desire to be in the core, close to Union Station and the revitalized waterfront, and in a leading-edge facility that is built and operated in the most environmentally sustainable manner.”
Construction on the office tower is projected to start in Fall of 2017, with completion expected in the first quarter of 2021. When completed, between 4000 and 4500 people will work in the building.
Alan Menkes, President of the High-Rise Residential Division of Menkes said, “We look forward to working with the City of Toronto, Waterfront Toronto and local residents as we move through the development approvals process. Our goal here is to create a dynamic, multi-dimensional, 24-hour community that meets the diverse needs of the future population who will work, live and play here, while also paying tribute to the history of the site.”
The proposed Menkes Waterfront development will continue the growing momentum of revitalization efforts in Toronto’s waterfront district, including the future expansion of the Queens Quay Light Rail Transit (LRT) line. Over the past two decades, this area has been the subject of significant public and private investment, resulting in the creation of new employment hubs, signature park spaces such as Sugar Beach and Sherbourne Common, and residential neighbourhoods.