[Midtown Urbanist]

The project reduced from 50-storeys to 48-storeys but retains two mechanical penthouse floors, in case anyone was similarly confused at first when looking at the arch drawings.

 

[AlbertC]

Agenda Item History - 2021.PB26.2

355-359 Adelaide Street West - Notice of Intention to Designate a Property Under Part IV, Section 29 of the Ontario Heritage Act

This item will be considered by Toronto Preservation Board on September 1, 2021. It will be considered by City Council on October 1, 2021, subject to the actions of the Toronto Preservation Board.

Summary​

This report recommends that City Council state its intention to designate the listed heritage property at 355-359 Adelaide Street West, under Part IV, Section 29 of the Ontario Heritage Act. The heritage property at 355-359 Adelaide Street West contains a six-and-a-half storey factory building, constructed in 1921-1922, for the Gelber Brothers, Moses and Louis, who contributed to the development of the King-Spadina neighbourhood as a manufacturing enclave and who were noted philanthropists and leaders in Toronto's Jewish community. The building was home to numerous clothing manufacturers who contributed to the establishment of Toronto's Fashion District. Designed by Benjamin Brown (1890-1974), one of Toronto's earliest Jewish architects, the building's low-rise brick and stone-clad massing, with its Renaissance Revival style, composition and details, maintains the architecturally rich quality of this down-town district. The building represents the factory building type that has accommodated the evolving industrial and commercial activity over the past century, giving the King-Spadina district its distinctive urban form and character. The property at 355-359 Adelaide Street West was identified as a contributing property in the King-Spadina Heritage Conservation District Plan, adopted by City Council in October 2017 and currently under appeal. It was listed on the City's Heritage Register in December 2017. Following city staff's additional research and evaluation under Ontario Regulation 9/06, the provincial criteria prescribed for municipal designation, it has been determined that the property at 355-359 Adelaide Street West merits designation under Part IV Section 29 of the Ontario Heritage Act for its design, associative and contextual values.​

 

[ProjectEnd]

LMAO

 

[UtakataNoAnnex]

Welp...it looks like the one only excavation we'll see dug here is their own. And one they're unlikely to climb out of. >.<

 

[argus]

Back in 2008, if anyone would have suggested that this property would still be undeveloped by 2021, I would have laughed.

 

[ProjectEnd]

Annnnnnd we're back!

 

[Amare]

Allied please I beg you, come save a pretty good historical building. You're our only hope in this city.

 

[AlbertC]

Brief mention in this article:

The property being listed by Colliers is known as “Go-To Spadina-Adelaide Square.” On the company’s website it is identified as being at the southeast corner of Spadina Avenue and Adelaide Street West, which Go-To says it acquired in April 2019.

A site plan application was submitted in June 2020, the firm says, for a 50-storey mixed-use high-rise.

The bid deadline for this property is April 7.

KSV Restructuring declined to be interviewed by RENX, but the latest documents filed on its website indicate CBRE is aiming for a bid closing date in early to mid-April for the properties it is marketing.

Eight Ontario development properties for sale by receiver

Eight potential development properties in the Greater Toronto, Hamilton and Niagara areas are for sale by CBRE and Colliers on behalf of KSV Restructuring, the court-appointed receiver and manager of Go-To Developments Holdings. Seven of the properties are being marketed

renx.ca

 

[AlbertC]

 

[bmiller]

Another facedectomy.

 

[AHK]

July 12, 2022:

355 Adelaide / 16 Charlotte is now a Fengate project. One thing for cerrtain - the project will now not lack for funding as has been the case with prior proponents for this site. Fengate has very deep pockets.

Fengate acquires historic mixed-use development site in Toronto's Entertainment District​

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News provided by
Fengate Asset Management
Jul 12, 2022, 08:30 ET
https://urbantoronto.ca/forum/javascript:void(0)

---

TORONTO, July 12, 2022 /CNW/ - Fengate Asset Management ("Fengate") is pleased to announce the acquisition of a mixed-use development site, comprised of 46 Charlotte Street, 16 Oxley Street, and 355 Adelaide Street West, in downtown Toronto's Entertainment District. The firm acquired the site through a receivership sale, with zoning and site plan applications in progress. Fengate is managing this investment and development as part of its commercial and residential development strategy on behalf of its investors, including the LiUNA Pension Fund of Central and Eastern Canada.

The site on the corner of Charlotte Street and Adelaide Street West is currently occupied by a six-storey, heritage-listed building with links to the expansion of Toronto's garment industry in the 1920s and 1930s, which drove the revitalization of the area. The proposed development includes plans to preserve parts of the heritage façade of the property, and contemplates delivering over 400 residential units as well as retail and commercial spaces in the heart of downtown Toronto.

The property's prime location is underscored by its excellent walk, transit, and bike scores. This connectivity stands to be further enhanced by the construction of the future Queen and Spadina station on the Ontario Line, which will be a short walk away from the proposed development. Future residents will benefit from this convenient access to the numerous dining, retail, entertainment, fitness, and lifestyle amenities along King and Queen Street West.

"On behalf of our investors, Fengate is pleased to acquire this centrally located, historic site in downtown Toronto. The project will offer future residents contemporary living spaces and modern amenities right in the heart of the Entertainment District," said Jaime McKenna, Managing Director and Group Head of Real Estate, Fengate. "This acquisition is aligned with Fengate's highly focused investment strategy to develop large urban residential sites that support the growth of communities in transit-oriented nodes."

"The site on Charlotte and Adelaide is a unique opportunity to simultaneously pay homage to Toronto's entrepreneurial history and address the future housing needs of our growing city," said Andrew Konev, Senior Vice President, Development. "The proposed development will introduce new clients to businesses in the area, and will provide housing options to a talent pool looking for convenient access to the world-class employment opportunities in the nearby Financial District and the expanding tech node of the area."

This acquisition expands Fengate's real estate development portfolio in downtown Toronto, which includes Natasha The Residences and the proposed development for the Rail Deck District.

About Fengate Asset Management
Fengate Asset Management is a leading alternative investment manager focused on real estate, infrastructure and private equity strategies. With offices in Canada and the United States, Fengate has a proven track record of successful projects and partnerships, and an established reputation as one of the most active real asset investors and developers in North America. Fengate Real Estate, a division of Fengate Asset Management, has been strategically developing and managing real estate assets since 1974.

SOURCE Fengate Asset Management

 

[Khaloody]

I wish it was somewhat higher or lower to break the "table top" height for the area. Not sure why this height limit is set for the area.

 

[AlbertC]

Fengate acquires Toronto Adelaide St. high-rise dev. site

A Toronto high-rise development property at the intersection of Adelaide Street West and Charlotte Street has been acquired by Fengate Asset Management following a receivership sale. Fengate announced the acquisition of 46 Charlotte St., 16 Oxley St., and 355 Adelaide

renx.ca

Fengate announced the acquisition of 46 Charlotte St., 16 Oxley St., and 355 Adelaide St. W. on Tuesday morning. The 13,725-square-foot property in the Entertainment District currently contains a heritage-listed six-storey building and the most recent development proposal for the site includes retaining portions of the structure.

Zoning and site plan applications are “in progress” according to Fengate.

The most recent proposal for the site is to redevelop it with a 48-storey tower which would include about 400 multiresidential units, as well as commercial and retail space.

In an email exchange with RENX, Fengate managing director and group head of real estate Jamie McKenna said the firm is reviewing the proposal.

“We are reviewing opportunities to enhance the existing proposal to maximize the positive impact of the development to the surrounding community,” she wrote.

The current project would include a podium incorporating some aspects of the existing 28,000-square-foot structure and comprise about 328,000 square feet of floor space. The existing building links back to the expansion of Toronto’s garment industry in the 1920s and 1930s, which drove the revitalization of the area, according to information from Fengate.

---------
Fengate is managing the investment and development on behalf of its investors, including the LiUNA Pension Fund of Central and Eastern Canada.

“The site on Charlotte and Adelaide is a unique opportunity to simultaneously pay homage to Toronto’s entrepreneurial history and address the future housing needs of our growing city,” said Andrew Konev, Fengate’s senior vice-president, development, in the release.

“The proposed development will introduce new clients to businesses in the area and will provide housing options to a talent pool looking for convenient access to the world-class employment opportunities in the nearby Financial District and the expanding tech node of the area.”

He told RENX no timeline is available for the development.

 

[artyboy123]

Rendering updated in the database. Total storey count changed from 48 & 12 storeys to 58 storeys. Height changed from 158.60m & 38.05m to 187.00m. The unit count changed from 387 units to 503 units. The total parking count changed from 26 parking to 24 parking.

Rendering taken from the architectural plan via Rezoning.

 

[ben.thebean1]

That's... wow

It better be a really cool colour. Which I bet $5 it won't be.