Lanterra Looking to Revitalize Bloor & Sherbourne

Revitalization is one of the most profitable words in the pre-construction condo language.  In the last 10 years, developers have added huge value to areas that were previously not considered hotspots such as Liberty Village and the Entertainment District. Looking forward, areas currently under revitalization such as Regent Park (One Park West, Paintbox) , West Don Lands (River City 1 & 2) and East Bayfront (Monde) offer incredible opportunities for investors to get in while prices are low.

Another area that looks set for a major face lift is the corner of Bloor & Sherbourne.  Lanterra Developments own a huge piece of land located at 609 Sherbourne and have plans to build four towers ranging in height from 46 to 56 storeys and will contain 1,840 units.  It’s an enormous undertaking in a neighbourhood typically known for their rental apartments, however, Lanterra see things differently and have the track record to pull it off.

Wire drawing of new Lanterra Project at Bloor & Sherbourne

The project will be a multi-phase project that will house almost 2,000 units

The developer is working closely with the City to change the way we think about Bloor & Sherbourne.  The neighbourhood (St. James Town) is currently going through a community improvement project that aims to:

a) Replace  existing rental housing units
b) Work on a Tenant assistance and Relocation Plan
c) Work within Toronto Green Standard regulations
d) Maintain heritage attributes of St. James Town

It’s still very early days for this project and there is currently no launch time frame (However, I wouldn’t be overly surprised to see a 2012 launch).  Lanterra have a terrific track record and we are excited to see this project come to life.  For more information, stay tuned to TalkCondo!