TAS is working with SvN Architects + Planners
on its proposal to build five residential towers ranging from 34 to 46 storeys that will include a mix of condominium and purpose-built rental apartments.
“It's almost unparalleled in the GTA for transit access,” TAS development vice-president Ken Wilcox told RENX of the 5.5-acre site at the corner of Hurontario Street and Hillcrest Avenue.
It will offer direct access to regional transit via the Cooksville GO Transit
station, light rail transit via the under-construction Hurontario LRT
line and the MiWay
A partnership with Options for Homes
aims to produce 250 to 300 homes through an attainable home ownership program.
“One of our core impact objectives is delivering affordability, and with it we saw our values align,” said Wilcox. “It has a great track record of delivering at scale.”
TAS has signed a memorandum of understanding with Options for Homes whereby the non-profit condo developer will receive air rights for one of the five towers to provide units for people to live in – they're not to be used for investment purposes.
Options for Homes takes what would typically be a developer’s profit and uses it to enhance purchasers’ down payments and lower their cost of ownership.
Approvals and construction
TAS submitted applications for official plan and zoning bylaw amendments in June. Depending on how the approvals process unfolds, Wilcox would like to start phased construction in late 2024 with occupancy beginning in early 2029.
The hope is Connecting Cooksville will be the catalyst for creating a more walkable, dense and resilient neighbourhood.
TAS acquired the first 2.3 acres of the site in two off-market deals with private landowners in 2018. It purchased the remaining 3.2 acres from Metrolinx
in a competitive bid process in 2020.
“Even if we were just going to develop those first 2.3 acres, we thought it was a great opportunity on a transit-oriented site,” said Wilcox.
“There was no certainty at all that we would be able to assemble the entire block, but . . . we’re thrilled that it worked out and we managed to assemble the entire thing.”