20 Lower Spadina would be a separate transaction, this is the office building alone. It's also not going for height anywhere near what folks have speculated above...
 
development.arkfield.com

Lower Spadina - ARKFIELD Development

development.arkfield.com


10 Lower Spadina Street

Status Planning & Approval
Number of units 500
GFA 360,000 sq. ft.

Currently a 7-storey office building hosting 13 tenants, this planned development can reshape Toronto’s skyline. Strategically positioned along the waterfront, 10 Lower Spadina Street offers unparalleled access to the best of Toronto's urban and waterfront lifestyle. The site is just minutes away from the bustling Entertainment District, Financial District, and vibrant King West neighbourhood, ensuring residents are never far from the heart of the city's action.

10lowersp.JPG
 
AlbertC said:
development.arkfield.com

Lower Spadina - ARKFIELD Development

development.arkfield.com


10 Lower Spadina Street

Status Planning & Approval
Number of units 500
GFA 360,000 sq. ft.

Currently a 7-storey office building hosting 13 tenants, this planned development can reshape Toronto’s skyline. Strategically positioned along the waterfront, 10 Lower Spadina Street offers unparalleled access to the best of Toronto's urban and waterfront lifestyle. The site is just minutes away from the bustling Entertainment District, Financial District, and vibrant King West neighbourhood, ensuring residents are never far from the heart of the city's action.

View attachment 589655
Click to expand...

The height clearly lacks precedent along this portion of Queen's Quay. The proposed architecture......likely quite preliminary, but nonetheless, looks dull.

You want that supported, and finessed? (said to Arkfield)

1) I want more attractive architecture, with colour

2) I want 100% purpose-built rental

3) I want you to make @HousingNowTO happy with a bare minimum of 5% affordable units for a 99-year term and the option to the City to buy more, in bulk.

4) I want money to build the new Ferry Terminal.

Just saying...
 
There's a lot more competition in rental condos than the oligopoly of pension funds owner of purpose built rentals requiring a set minimum income and rising property values to make construction worthwhile. 5% is better than 0%. It's still more a populist gesture than actually accomplishing anything. it's in the tens to a couple hundred when 1000s rising skywards to 10,000s are needed every year.

I prefer sound planning policy over passing that baton to a developer for a few dozen affordable units.
 
I live in the area, hope the height is reduced a bit.
Also not sure if people are aware but the Starbucks that used to be there has closed because the landlord didn’t want to renew the lease
 

Arkfield's ownership of the 10 Lower Spadina property is now official. From today's Newswire release:​

Arkfield Acquires Office Building in Toronto Downtown Core​


TORONTO, Aug. 26, 2024 /CNW/ - Arkfield has completed the transaction to acquire 10 Lower Spadina, a property located on Toronto's waterfront. This acquisition is a key addition to Arkfield's income portfolio as the company continues to expand its presence in strategic urban areas.

10 Lower Spadina is a 7-story office building in the downtown core with long-term redevelopment potential. The property provides unobstructed views of Lake Ontario and is well-positioned to benefit from ongoing waterfront revitalization efforts, including the development of public spaces, cultural sites, and enhanced transit options.

About Arkfield

Arkfield is an integrated real estate group that owns, operates, and develops commercial and residential assets across Ontario. Arkfield actively manages its investments to deliver superior results on a risk-adjusted basis. Arkfield's real estate portfolio totals over 4.3 million square feet of residential density with an estimated completion value of $4.5 billion.

SOURCE Arkfield
 
Article on this site, and Arkfield's strategy/plans for it, in Renx:

renx.ca

Arkfield has short- and long-term strategies for 10 Lower Spadina

Arkfield has acquired a seven-storey downtown Toronto mixed-use office building with long-term redevelopment potential from Dream Impact Trust for $23.7 million.
renx.ca renx.ca

The key bits.

1) They is no plan to pursue development here in the next 5 or so years, Five years is about the earliest they are looking at moving ahead, as the property is fully leased, with average length running just over the 5 year mark.

2) They haven't decided at this point what the long term strategy for the site is, be that office, residential rental or condo or some combination thereof. The proposal we've seen here is just a very loose high concept.

3) They (Arkfiled) have had very preliminary discussions with the City of Toronto about acquiring the property to the north. Presuming they could demolish the home, I think this makes a great deal of sense.

4) They are actively trying to lease up the former Starbucks with some sort of A-Class retail that is worthy of the park/lake view.
 
@Paclo

While the Supporting Materials are not yet posted, this one has a public-facing link in the AIC.

First the link:

www.toronto.ca

Application Details

www.toronto.ca www.toronto.ca

The description does give us:

Height: 49s

Unit Count: 511

FSI: 20.46

1731680336924.png
 
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