Massive Toronto Project to Lure Amazon Envisions 50,000 Workers
- First Gulf mulls IPO, bonds for $6.3 billion development
- Site proposed for Amazon HQ2; next to Google’s smart city
Apple, Google and Amazon Seem Unstoppable. Now What?
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First Gulf Development Corp. is considering everything from an initial public offering to bond financing to get Canada’s biggest office project off the ground -- 12 million square feet of space in Toronto that will hold more than 50,000 workers and cost about C$8 billion ($6.3 billion) to build.
The company expects to get planning approval by June to start development on the 60 acre (24-hectare) site known as East Harbour, which the city officially pitched for Amazon’s HQ2. The project, located east of the financial core and next to the smart city proposed by Google parent Alphabet Inc., will include a mix of office, retail and institutional space.