I was recently passing by the corner of Bay and Adelaide where I took a look at the sign for Donald Trump's new project in Toronto. What struck me most about the Trump International Hotel and Plaza was its odd location. The tower might end up being the tallest building in Canada -- and in the top twenty worldwide -- but it is located right next door to Scotia Plaza and a stone's throw from First Canadian Place.
I guess it makes sense to build a very tall building on very valuable land, but it just seems strange to me. (See image here or see below.) Why not build it somewhere else where you might be able to have a view of something other than bankers at their desks?
I think the Trump tower is going to get built. But it's not the only such project in the works. Local developer Harry Stinson is planning his own 80+ storey tower just a block away at Richmond and Adelaide. His Sapphire Tower is presently designed at just 19 feet less than Trump's. It's also squeezing into the same space, as you can see in the image below by Cassius Adams (found here, among others).
L to R: Scotia Plaza, Trump Toronto, First Canadian Place, CN Tower, Sapphire Tower
Over the past few years it has become commonplace to hear announcements for towers in Toronto that are close to 50 storeys. I doubt they will all get built, but according to this database, there are twenty-three projects 40-49 storeys presently planned or under construction, six at 50-59, two in ths 60s, plus Trump at 70 and Sapphire at 81. It is interesting to compare to this list of commercial projects; of the 33 projects in Toronto that are 40+ storeys, only three are office towers, and none seem likely to break ground soon.
Don't these people work anywhere? It's hard to explain all these new condos being built without much commercial construction, but I suppose a lot of these downtown residents might be taking the jobs of commuters who used to drive in from suburbia and now work out there. And there is also the reverse-commuting phenomenon.