[Milaisacat]

Allied bought out Westbank's remaining 50% interest in KING Toronto in June. Westbank is not involved here.

I'm not necessarily disagreeing, but I haven't been able to find this announcement. Could you point me towards it?

As recently as the end of July, Allied's Q2 results press release still spoke about KING being on track for completion by Allied and Westbank in 2026 and it didn't include KING in discussion of recent acquisitions/increased interest in projects.

 

[DtTO]

This one absolutely should have been windowwall, but funny things, and then more funny things, and here they are with a discontinued curtainwall

Absolutely not. There is 0 chance you could get windowall panels to look as good/cohesive in this style

 

[whatever]

A frame is a frame. Why, exactly, do you think glass blocks couldn't have been installed into a windowwall frame?

 

[DtTO]

A frame is a frame. Why, exactly, do you think glass blocks couldn't have been installed into a windowwall frame?

For one, the mullions required to cover the slab would be obvious. Additionally, window wall panels never line up as well as curtain wall, and the individual panels would be more obviously disjointed.

 

[whatever]

One system has a mullion bypassing the slab at the top of frame, the other system has a mullion bypassing the slab at the bottom of the frame. Same difference. The horizontal joint would be less consistent for the windowwall, but what percentage of the wall even has a horizontal joint, given all the step-ins? And to trade off that consistency versus the perimeter conditions the curtainwall creates?

 

[AHK]

From yesterday, Monday September 15. Ongoing work completing the Level 3 cladding and glazing. The two remaining Level 3 areas on the King Street side of the building, the north east and north west sections, are now largely complete. The work being down in the photos below was in the north-east portion of Level 3. The Level 4 cladding and glazing will hopefully start arriving within the next couple of weeks or so - in the late September timeframe.

North-East area

North-West area:

 

[Start Fox]

I'm not necessarily disagreeing, but I haven't been able to find this announcement. Could you point me towards it?

As recently as the end of July, Allied's Q2 results press release still spoke about KING being on track for completion by Allied and Westbank in 2026 and it didn't include KING in discussion of recent acquisitions/increased interest in projects.

It was discussed earlier in the thread that Allied had bought out Westbank, one indication being that all the Westbank references on the hoarding were covered up. Though Allied denied it (if I recall correctly from this thread).

Also for what it's worth, Westbank is still posting about this development on their Instagram account as recent as yesterday.

So I'm not sure what to believe.

 

[AHK]

This morning - Wednesday, September 17 - at 8 AM, and it looks like the first shipment of Level 4 cladding and glazing has arrived. Two flat bed trucks on site, one was just leaving empty, the other waiting on King Street to unload. First photos are of the pieces on the second truck, followed by a shortly later set of photos of the truck being unloaded after pulling into the east courtyard entrance. This time the frames being unloaded are being staged within the courtyard area, and not along the south edge of the King Toronto property, as had been done in the past.

Hopefully installation activity for the cladding and glazing sections along Level 4 will be seen soon.

Newly unloaded sections staged in the courtyard area.

 

[JAIPD]

What's the cadence of cladding shipments? Are we at a floor a month or longer than that?

 

[marcus_a_j]

I know it's been said that Westbank is no longer involved, but their most recent Instagram post (5 days ago) was on KING Toronto with fairly recent pictures.

 

[Milaisacat]

I know it's been said that Westbank is no longer involved, but their most recent Instagram post (5 days ago) was on KING Toronto with fairly recent pictures.

My hunch is that at one time Westbank had an interest in the 80,000-sqft office component of the building. I can absolutely see Westbank selling its interest to Allied to raise cash.

 

[interchange42]

My hunch is that at one time Westbank had an interest in the 80,000-sqft office component of the building. I can absolutely see Westbank selling its interest to Allied to raise cash.

It can be seen in this photo of AHK's...

...that Westbank's name persists on the hoarding. Our front page story of July 15 was republished to remove references to Westbank having sold their share after we were contacted by them to indicate that the reports were not true. Allied REIT's reporting also continues to show this as a joint venture. While Westbank are obviously doing what they can to reduce their debt, they do remain a co-developer of this building.

42

 

[AHK]

It can be seen in this photo of AHK's...

...that Westbank's name persists on the hoarding. Our front page story of July 15 was republished to remove references to Westbank having sold their share after we were contacted by them to indicate that the reports were not true. Allied REIT's reporting also continues to show this as a joint venture. While Westbank are obviously doing what they can to reduce their debt, they do remain a co-developer of this building.

42

Confirming Craig's comments regarding Westbank's continuing involvement with the King Toronto project. My earlier post indicating that Allied had acquired Westbank's interest was in error. Unfortunately I had been given incorrect information by an industry executive, who had stated quite clearly that Allied had just purchased Westbank's interest. This happened on the same day that the hoarding was repainted from black to dark green - and in answer to my question about the colour, a construction supervisor on the site confirmed that it was 'Allied Green'. This all took place on the same day that much of the hoarding along King Street was being removed - and I happened to pass by just when the large Westbank sign had come down, but the Allied and Ellis Don signage was still up. All in all, an unfortunate series of coincidences.

Subsequently a contact at Allied confirmed Westbank's ongoing involvement in the project, and that should that change, it would be considered a material event that would require public disclosure to the investment community.

Meanwhile, my understanding, from two different sources, is the former Early Mercy site on the other side of the street - also owned by Allied - is being prepared to be a receiving / storage / staging facility for upcoming deliveries of King Toronto interior components, with somewhat robust exterior fencing around the building being installed.

 

[Milaisacat]

Excellent. Thank you both for the clarification and context.

 

[Riseth]

September 19, 2025