Kevric Begins $15.5M Revamp of Consilium Place
Scarborough’s Consilium Place is getting a redesigned atrium, enhanced food court (new vendors and more seating), improvements to ground-level glass façades, and 2,000 new shrubs and trees. Kevric Real Estate Corp is spending $15.5M to revamp Consilium Place's three office towers, which span over 1M SF on a 2.82-hectare site at Highway 401 and McCowan Road, the largest contiguous block of Class-A office space in the Toronto East market. Tenants at the complex—built between 1984 and 1990—include Telus, Scotia Bank and JP Morgan.
Kevric purchased Consilium Place in 2012 and is modernizing the campus via a 10-year investment plan, contributing to the creation of a “true city centre atmosphere” in this rapidly growing area of Scarborough, the firm's GTA VP Mike Zenker noted. A glass curtain wall will be installed between 100 and 200 Consilium Place, enabling better integration of the complex’s three buildings, all of which are getting new entrances. Work is anticipated to be done by December.
Longer-term at Consilium Place, Kevric is contemplating the addition of three office towers, two 12-storeys (750k SF) and one five-storeys (150k SF). It is also planning to build a mixed-use complex on adjacent land with a 12-storey residential tower, 500-room hotel and commercial space. But wait, there's more:the company is mulling construction of a third complex that would include four residential towers. Next stop, Kevricburgh.