Toronto needs to keep its central heart beating in the pandemic aftermath
, a massive new development on the site of the former Globe building in the west side of downtown. That meant abandoning no less than 348,103 square feet of space. The Globe reports that the Canadian Imperial Bank of Commerce is looking to sublet another 400,000 square feet in five downtown buildings.
You don’t have to be an alarmist to imagine how a vicious circle could develop. With fewer people coming downtown, the restaurants, bars, convenience stores and fitness clubs that depend on their business start to fail. That lessens the lure of downtown. With fewer people riding the TTC, the agency cuts services and raises fares . That makes it harder to get downtown and still less attractive to get on the bus.
It has happened before. Cities around North America suffered from a mass exodus in the post-war decades as business and residents streamed to the suburbs. Toronto’s downtown fared better than many, but it was still a rather dull and lifeless place, with huge surface parking lots sucking the life out of its streets and not much to do after dark.
Other parts of Greater Toronto also grew by leaps, as places like North York and Brampton took in throngs of new immigrants. But downtown is the city’s beating heart. Toronto’s success relies on it. It’s part of the city’s brand, showcased in big events like the Toronto Raptors championship in 2019.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Toronto News | Breaking News | CTV News TorontoBreaking Toronto news, live coverage, weather, traffic, in-depth reporting.
Read more »
Globe editorial: Toronto needs to map out a better route for transit fundingFunding is part of the solution, but the TTC needs to look at other options to create a long-term solution for Toronto’s transit woes
Read more »
MANDEL: Toronto cop punched partner, faces other Police Act chargesToronto Police Const. Usman Haroon was before a disciplinary tribunal for punching a female colleague in the arm.
Read more »
Environment Canada issues alert for Toronto ahead of more nasty winter weatherAnother gross winter weather system is headed for Toronto, according to meteorologists, bringing with it some unpleasant-sounding precipitation and...
Read more »
Random, unprovoked stabbings in Toronto area rekindle outsized public fear of stranger attacksRandom, stranger attacks are among the most frightening forms of criminal victimization, but they terrify us more than they should
Read more »
Toronto plus-sized influencer says Hooters TikTok video was a jokeThe 27\u002Dyear\u002Dold, 5\u002Dfoot\u002D9, 320\u002Dpound content creator says she never actually wanted to be a so\u002Dcalled “Hooters girl.”
Read more »