Two Major New Site Details From This Past Week

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This past week, two major Toronto Developers announced major site acquisitions that we thought were news-worthy.

The first – a 2.5 acre site on Harbour Street was picked up by Menkes for a WHOPPING $76,000,000 (Did you count those 0’s?) for the site that sits south of Maple Leaf Square – some PRIME Toronto Real Estate.

Details of the site:

  • 2.5 acres
  • Proximity and access to the Financial Core, Union Station, PATH system, Harbourfront, Air Canada Centre, Rogers Centre, and the Gardiner Expressway
  • Strategic Location right in the heart of downtown Toronto Core
  • Frontages: Harbour Street – 557ft, York Street – 160ft, Lakeshore Boulevard – 537ft.

The land currently has an existing heritage building that was built in 1953. The building formerly housed the OPP Headquarters and was vacant. There is also a parking lot that had a lease in-place – once you see pictures, you’ll know exactly which site this is.

Predictions are already flooding forums with some speculating two 75-storey towers, or even 3 residential towers with an 8-storey office podium.


This Site + Menkes = Drool

The second is news filtering through that not one, but TWO massive towers are in the works for 156 Front Street West by Cadillac Fairview.  The developer has applied to construct a two tower complex that will consist of a massive 65-storey condo tower, and a 54-storey office tower. Having only recently purchased the land, the site is currently home to a heritage building that has a Canyon Creek and Joe Badali’s, along-with a parking lot along Simcoe. The towers will replace this parking lot while the south and east facade of the existing heritage building will remain.

Details are scarce at this point – only a few renderings from independent artists of their impressions of how the site could look amongst the existing towers. Cadilliac Fairview aren’t really ones to dabble in the residential area but have teamed up two condominium developers in the past, working with Lanterra on ICE Condominiums and with Graywood for the Ritz Carlton Residences.

Both sites are very very interesting and we can’t wait to get more details on both.

Roy Bhandari