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.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Toronto Newsletters
Related Stories

Cross Ocean Partners, Fuller Realty Acquire 829K SF Houston Office Campus

NYC Office Investor Warns It Could Go Under As Defaults Pile Up

Deutsche Bank Takes 5 Floors At Oaktree And Quadrant's Canary Wharf Scheme

Coconut Grove Office Flipped For $15M Gain After One Year

D.C.'s Office Market Is Getting A Makeover

Oxford Properties Pays $435M For Boston Office Tower, Eyes More Deals

Judge Rules FBI Can't Scrap Maryland Headquarters Plan

EXCLUSIVE: Opal Holdings' Former 700K SF Suburban Chicago Office Campus Hits The Market

Judge Approves $70M Sale Of Philly's Largest Office Complex

Brookfield Offloads 3-Building Silver Spring Office Complex

Wildfires Reignite Case For Landlords To Invest In Air Quality

3 Suburban Philly Office Buildings With Strong Occupancy Hit The Market