Mike in TO
Senior Member
A 54 acre property is located east of Allen Road and south of Sheppard Ave west - adjacent to the Downsview TTC station. Council had previously approved the transfer of a portion of the property to Build Toronto. Most of the property is used as a TTC communter parking lot. The lot was established on an intermin basis and as approved by the Property Management Committee is in not necessary to replace the revenue for the parking.
This is a fairly larger parcel and is expected to eventually be home to a mixed-use community with more than two million square feet of office and retail space and over 3,000 units high-rise and low-rise residential units.
Preliminary concepts include 10-14s towers along Allen Rd., with townhomes and singles farther east to blend in with lowrise communities toward Wilson Heights Blvd. A portion of the stock is planned to be affordable housing - Build Toronto defines that as 20 per cent below CMHC averages.
Total value when developed is anticipated to be in the $400-$500 million range.
This is a fairly larger parcel and is expected to eventually be home to a mixed-use community with more than two million square feet of office and retail space and over 3,000 units high-rise and low-rise residential units.
Preliminary concepts include 10-14s towers along Allen Rd., with townhomes and singles farther east to blend in with lowrise communities toward Wilson Heights Blvd. A portion of the stock is planned to be affordable housing - Build Toronto defines that as 20 per cent below CMHC averages.
Total value when developed is anticipated to be in the $400-$500 million range.
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