Developers have abandoned an application to bring a five-storey office and retail building to Davis Drive next to the Newmarket Seniors’ Meeting Place.
The town disclosed the application removal from Oskar Group, which would have seen a large building at 514 Davis Dr. on the current site of a parking lot. The 2017 proposal would have included both office and retail space, along with a six-storey parkade according to a developer website.
“The application has gone dormant and was abandoned by the developer in 2019,” the municipality said. “The town has not received a new application to date.”
Under the name of Stratus Centre, Toronto-based developer Oskar Group had put forward an application with approximately 100,000 square feet of space across five floors. The developer had said the building would be environmentally sustainable, with solar panels, geothermal heating and cooling and electric vehicle charging stations.
“Stratus Centre is redefining what a modern office building should be; designed and built with renewable, energy-efficient principles and situated in a diverse hub of activity and connectivity,” the developer website said. “Stratus Centre focuses on sustainable design offering a healthy working environment to enhance human comfort and performance. In addition to the latest technology in building design, the project seeks a balance between the environment and community.”
Oskar Group did not respond to a request for comment before publication time.
The property nestled between the Seniors’ Meeting Place, the Newmarket Recreation Youth Centre and Sk8 Park, and the Taylor Funeral Home, is currently used as a parking lot.
The company talked up the design of the building and its integration with the surrounding community.
“Our primary design goal for the Stratus Centre is a contemporary landmark building,” Toronto-based architect Superkül said in a testimonial. “We felt another important objective was to create a strong urban presence on the street, in hopes of catalyzing the revitalization of Davis Drive into a vibrant community.”
Advertising had begun for leasing the space through real estate company Avison Young. A sign remains at the front of the property, still marketing information for the defunct application. The town’s planning website had listed the application as “in progress” as of July 6.
The pandemic has impacted the demand for office space as more companies began work-from-home policies. Newmarket’s 2021-2024 economic development strategy said companies in the GTA were shedding space amidst the pandemic to reduce costs.
“As such, the demand for office space, especially in the geographic margins of the GTA like Newmarket, is less certain,” the report said.
