Downtown Toronto has no dearth of high-rise buildings, yet, it appears there is no stopping in the addition of such development. The latest addition to the high-rise club of Downtown Toronto is CentreCourt’s 68-storey condominium complex. The company is reputed for its high-quality work in high-rise-space across GTA.
The developer is joining hands with Choice Properties REIT, and Fitzrovia to deliver the plan as soon as possible. Arcadis will be helming the designing task.
The proposed development site for the construction, currently a four-storey retail outlet, is close to Wellesley subway station. The address is 543-549 Yonge Street.
As per the renderings, made available by Arcadis, there’s going to be a 10-storey base and a four-storey podium. As far as the materiality is concerned, the building appears to have high-quality glazing, which according to the report is to “promote an appropriate level of visual access into and out of the building”.
The report includes many details regarding the development. The construction would reach close to 229 m in height with a total of 68 stories and over 600 units (inclusive of a 13-m mechanical penthouse) and would include 40,465 sq. m of total gross floor area (GFA). The biggest share of the total GFA goes to residential use claiming 40,108 sq. m out of the total GFA. 356 sq. m would go to retail use.
In addition, a total of 1,658 sq. m of amenity space is proposed, including 995 sq. m to be located indoors and 663 sq. m to be situated outdoors. “The amenity spaces are proposed to be located on Levels 2, 5, and 11,” the planning report says, “with all outdoor amenity spaces contiguous with indoor amenity spaces.”
Following the theme of transit orientation, the development is expected to have nine parking spaces and 740 bicycle parking spaces.
Bousfields, the company that delivered the planning report, describes the prospective tower as “mixed-use” and “transit-supportive,” with “an overall height and density that is in keeping with the existing, approved and emerging planned context in the area.”
The new development is expected to be unique featuring amenities that improve the lifestyle of the residents. What are your thoughts on this upcoming development?
Since before the Budget Day on April 16, Prime Minister Justin Trudeau has been making announcements addressing the housing crisis facing the North American nation. From incentivizing the construction of affordable housing to reconstruction, these plans promise to improve the housing infrastructure of Canada.
The real estate sector’s most influential leaders and innovators will be gathering in Calgary for a conference that, in all probability, is going to be the biggest real estate event in Alberta. Titled, ‘Rock’N REAL ESTATE 2024’, the BUZZ conference will be taking place in Carriage House Hotel & Conference Centre on Thursday, May 2. The meeting will open at 7:30 am with a light continental breakfast. The discussion will go from 8 am to 5 pm followed by an hour of networking session at the end of the event. Cocktails on the house!
Canadian housing activity was largely stable in March, but a key spring selling season lies ahead. Existing homesales edged up 0.5% in March (seasonally adjusted) and were up a modest 1.7% from sluggish year-ago levels (although an early Easter long weekend likely reduced volumes somewhat). While current activity might seem quiet compared to the exuberance in 2021 and early 2022, sales volumes are trending about in line with pre-COVID norms, albeit at the low end of that range.
“We are changing the way we build homes in Canada. In our housing plan and Budget 2024, we are delivering ambitious action and investments to build more homes, make it easier to rent or own, and help the most vulnerable with stable housing. This is about restoring fairness for every generation, and housing is at the heart of that”, said Canadian Prime Minister, Justin Trudeau about the country’s new housing plan.
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