ferusian

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15 HOLLIS ST
Ward 5: York South-Weston

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This site currently consists of five single-storey houses & is owned by Gairloch Developments.

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AlbertC

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It also makes Metrolinx' decision not to put any density on top of the Mt. Dennis MSF that much more ridiculous...


Yeah. the TOD approach between MTR and Metrolinx/TTC is night and day. Part of it is the scarcity and resourcefulness POV that Hong Kong has thrived on for decades which is also a cultural element. But let's just hope that future plots of land along the Ontario Line treat similar opportunities more seriously, I guess.
 

Amare

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And it begins - with the Crosstown coming here, this area will likely explode.
I find it funny, there are some well known prominent real estate agents (i wont name names but lets just say some are always on CP24) who love to claim the the Crosstown LRT will have very little impact on property values on the Eglinton corridor as the impacts have already been accounted for.

I dont know what angle they are trying to come from or how they're trying to profit from making false statements like that, but evidently it's misleadingly wrong information. Here's Case Study #1 of exactly that.
 

ferusian

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Ward 5: York South-Weston

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No project description yet.

This site currently consists of five single-storey houses & is owned by Gairloch Developments.

View attachment 331747

View attachment 331748

Project description now available:
Proposed 34-storey residential building, comprising of a 5-storey base building with a 29-storey tower. The building will include a total of 365 dwelling units, 134 car parking spaces in three levels of underground parking, 365 bicycle parking spaces and a gross floor area (GFA) of 23,305 square metres, resulting in a density of 13.0 FSI.
 

ferusian

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junctionist

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The bungalows with leafy yards have a certain charm. The city can't afford not to have this sort of densification, but we shouldn't be gutting the charm of our streets to make it happen. There should be an emphasis on landscape design to soften the harshness of the built form and the jarring contrast between a tower and low-rise houses, even if it's possible that all of the houses around the site will one day disappear.

I'm not a big fan of tower-in-the-park design in general, but the emphasis on landscaping helps higher-density buildings fit into older low-rise residential streets from an aesthetic standpoint. It seems to work decently in the High Park neighbourhood. It also works in the Annex.
 

junctionist

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I find it funny, there are some well known prominent real estate agents (i wont name names but lets just say some are always on CP24) who love to claim the the Crosstown LRT will have very little impact on property values on the Eglinton corridor as the impacts have already been accounted for.

I dont know what angle they are trying to come from or how they're trying to profit from making false statements like that, but evidently it's misleadingly wrong information. Here's Case Study #1 of exactly that.

Property values in the area have gone up a lot as a result of the new investment in transit, but you have to consider a few factors. One, the transit isn't fully built yet. Some people will never be comfortable spending their life savings on this location until they can walk through the doors of a station and use the lines. Investors can't fully enjoy the rent premiums you get with close proximity to rapid transit until it's actually operational.

Much of the built form is subject to rent controls, too, so you want to set the rent at a price reflective of the proximity to rapid transit. Not every tenant is willing to pay that price.

You also have to consider that the LRT and regional train investments are just the start of revitalization. You will inevitably see new businesses come in and possibly new institutions like a college/university campus. It's in that subsequent wave of investment that property values in general will probably rise higher than the market overall.

When the station is done, the transit service will be there. But a lot of the stuff you see in other neighbourhoods that revitalized over the past 20 years will not be there, at least not yet. It takes people investing their lives in a neighbourhood for at least a generation to truly revitalize it and make it great (and expensive), whether they're homeowners, tenants, or business owners in that neighbourhood.
 

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