First Gulf and OPTrust Top-Off the Largest King East Office Development in the Last Decade

Posted in: Under Construction

More change is coming to Toronto’s historic King Street East neighbourhood, as First Gulf recently put the finishing touches on this new commercial office building that will bring new economic development to Toronto’s east end communities.

Now standing at its full 17-storeys at 351 King Street East (next to the corner of King and Berkeley Streets), First Gulf and OPTrust celebrating the topping-off of the The Globe and Mail Centre today – the largest new office development added to the King East neighbourhood in a decade. The topping-off marks a significant milestone as we prepare to welcome tenants in 2016.

Once complete, the LEED® Gold office building will be home to leading companies such as The Globe and Mail, Yellow Pages, and Loyalty One (Air Miles Reward Program), and will incorporate the latest sustainable and healthy workplace practices.

“The Globe and Mail Centre is a striking example of First Gulf’s expertise in developing first-class commercial office buildings that not only attract tenants but also seamlessly blend with local, historic neighbourhoods and communities,” said First Gulf CEO David Gerofsky.

Adding up to 4,000 employees to the mixed-use neighbourhood, The Globe and Mail Centre is a cornerstone in First Gulf’s sustainable revitalization of King Street East. As a commercial development, the building is also consistent with the City of Toronto and Province of Ontario’s goals to build new employment hubs, and sustainable communities that are walkable, cycle-friendly, and transit accessible.

Mayor John Tory, the Honourable Glen Murray (MPP Toronto Centre and Minister of the Environment and Climate Change), and Globe and Mail Publisher and CEO Phillip Crawley joined the project partners in recognizing the work of the tradespeople, consultants, and tenants who helped make this project a reality.

“This building is changing the neighbourhood around it. It’s the largest development that has gone up in the King Street East area in over a decade and is bringing 4,000 jobs”, says Mayor John Tory. “Developments like this represent the confidence and economic development in our city. We’re proud to have this building stand tall in Toronto.”

“I’m always pleased to welcome developments to Toronto Centre that contribute to a functional, sustainable community. I congratulate The Globe and Mail and First Gulf on creating a renewed hub of economic activity in downtown Toronto,” said Minister Glen Murray, MPP for Toronto Centre.

“We are excited to partner with First Gulf on this project, which reflects OPTrust’s strategy of directly investing in select, high-quality, new generation assets in locations with strong, underlying fundamentals,” said Rob Douglas, Managing Director, Real Estate Investments, OPTrust.

The Globe and Mail Centre was developed through a partnership between First Gulf and OPTrust, and was designed by Diamond Schmitt Architects. In addition to developing the building, First Gulf was the construction manager, and will act as property managers once construction is complete.

“Developments like this represent the confidence and economic development in our city. We’re proud to have this building stand tall in Toronto.”
– Mayor John Tory

 


Related News Sources:

The Globe and Mail: “The Globe’s New Home a Sign of Good Faith in the Future”
Urban Toronto: “First Gulf’s Globe and Mail Centre Topped-Off on King East”