The opportunity for developing new, rich office space for the citys growing tech community can be found in part by adapting older spaces, First Gulf CEO David Gerofsky(right, with Sweeny Sterling Finlayson & Co's Dermot Sweeny) said duringBisnows Tech Summit last week. (Older buildings are easier at adapting to new tech than your parents.) Take the old Sun building at 333 King St E, which includes 275k SF of office space and 90k SF of retail. The building--anchored by newspaper folks and the head office of Coca-Cola Canada--is taking on three new floors totaling 100k SF on the top of the building. These buildings arebuilt to last 100 to 200 yearsso they can go on to have a life after their original use, David says.
Toronto Port Lands Company CEO Michael Kraljevic, who also spoke, says Canada--particularly Toronto--has a lot to learn from its US and European counterparts when it comes to developing a city. In order for Toronto to claim itself as a global city, it'll have to be more efficient andensure its buildings are 24/7 assets, he says. Thats where our city should be leading us--creating buildings where we are not living in suburbs and having to come downtown to work. Our city will be stronger with more mixed-use communities.
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