BermudaTO37
Active Member
Was in this past weekend n my way to see Beetlejuice and snapped this.
Oh she didn’t even bid for it? I wonder why.Mentioned over on the Hudson’s Bay thread and relevant to this one, Ruby Liu didn’t bid on the Eaton Centre location. We’ll find out as early as next week or the latest by end of July whether anyone else is getting it.
Odds are growing that Cadillac Fairview is just going to get the space back. It’s an enormous space, 4X the square footage CF needed to fill after Nordstrom left.
Any guesses what fills it? Unlikely to be one tenant. Those just don’t exist anymore.
Oh she didn’t even bid for it? I wonder why.
As an aside, I passed by the store last night around 9.45 pm on the way to Queen station. All the lights on the first floor were on, as if the store were still open. I could clearly see the now empty interior. I don’t know who’s footing the store’s bills now, but even if it’s the landlord (CF), why waste money on electricity?
So the PATH connection will remain as a temporary access to the Eaton Centre until the Bay building is fully redeveloped? I wonder if the City can force that to happen? I have no idea what the PATH contract documents dictate to building owners.The Bay is still paying rent until July 31st when they officially must move out. They have to foot the bill for removing all the fixtures and leaving an empty shell. HBC has $200M cash on hand now so they can run a lean wind down operation and still have some left over to pay their creditors. The court's Monitor is overseeing that.
By August 1st, Cadillac Fairview (or whoever wins the lease if anyone at all) will take possession of the space and we'll probably begin to see what'll become of it. My best guess is that Cadillac Fairview will take back the office tower and possibly the heritage building floors above level 2. 650,000 square feet of office space on Bay Street is more valuable than retail which nobody is going to fill anyway.
The lower level will likely be boarded up to create a path (lowercase) and eventually be subdivided into shops in the PATH (uppercase) from the Bay-Adelaide Centre from the south and Sheraton from the west to the Queen Subway and Eaton Centre to the north.
At street level, Leña already proved that it can run a successful restaurant at Yonge and Richmond. Bay St and Richmond could see the same use on the south-west corner. Along Queen, it's probably going to remain vacant for the duration of the Ontario Line construction. Even the newly renovated 2 Queen West has remained unleased. Nobody is going to want to move into a space fronting a heavy construction site that's expected to last 4+ years.
On the second level accessed from the bridge, I can see CF leasing space for popup shops and experiential shopping. Maybe if they get the building back in time, that could host a Christmas Wonderland experience in Q4 before they get serious about dividing the space for long term tenants beyond 2026.
So the PATH connection will remain as a temporary access to the Eaton Centre until the Bay building is fully redeveloped? I wonder if the City can force that to happen? I have no idea what the PATH contract documents dictate to building owners.
So the PATH connection will remain as a temporary access to the Eaton Centre until the Bay building is fully redeveloped? I wonder if the City can force that to happen? I have no idea what the PATH contract documents dictate to building owners.
In the winter I walk through here on my way to work (at 1 Dundas). So I certainly hope they do keep it open.
Walking through the PATH from Union is slower versus walking along Bay Street, so I walk along Bay and can cross Queen easily there, not having to wait for the lights. It's an easy entrance to the Eaton Centre from the Albert St. / James St.It’s open right now weeks after The Bay’s closure so it’s likely to remain that way after CF takes over officially on Aug 1.
Heck, I go through there now in the Summer because Queen Street is such a mess. With the bridge shut down, the PATH is the best way to get to the Eaton Centre if you’re walking from the downtown core.
Thanks! Those are nicer (more textured) than the inside tiles. I wonder why they are different?
Probably for Back to School season.Not pictured but I was able to peek behind the curtain and Nike was buzzing with activity. They're racing to get their store done. This doesn't seem like a Fall opening, looks like they're aiming for late Summer.
Thanks! Those are nicer (more textured) than the inside tiles. I wonder why they are different?