Toronto’s West End is poised for significant change: Elysium Investments, together with Hepsor SPV I Ltd and Oikoi Living, has submitted formal applications to build two major rental towers in the High Park North neighbourhood—on Oakmount Road and Mountview Avenue. Designed by Teeple Architects, these 39- and 41-storey towers would become the tallest buildings in the area to date, reflecting growing momentum in transit-oriented rental development across the city.
Proposed Development Details
- The site includes an assembly of 11 properties (5 fronting Oakmount, 6 on Mountview), currently housing single-detached homes and 11 rental units.
- Elysium (with its partners) reportedly acquired the parcels for about $89 million.
- The two towers will rise to 137.6 meters and 144.6 meters respectively, atop a shared six-storey podium.
- In total, the project proposes 873 purpose-built rental units: 861 market-rate and 12 affordable replacement units.
- Unit mix: 172 studios, 317 one-bedroom, 288 two-bedroom, and 96 three-bedroom units.
Amenities, Design & Connectivity
- Gross Floor Area (GFA): ~61,378 m², with a Floor Space Index (FSI) of ~12.25 over the 5,010 m² site.
- Amenities are substantial: about 1,786 m² indoors and 1,770 m² outdoors, distributed across podium, ground, 7th, and 8th floors.
- Public access features include a Privately-Owned Publicly-accessible Space (POPS) along the south edge, creating a mid-block pedestrian link between Oakmount and Mountview.
- Parking & cycling: Two underground levels provide 68 vehicular resident spaces and 10 visitor spots. Bike storage includes 433 long-term, 104 short-term, 23 oversized stalls.
Transit & Neighbourhood Context
- The location is highly transit-oriented: ~350 m (≈ 5-minute walk) to Keele Station, ~550 m to High Park Station (Line 2), and ~12-minute walk to Bloor GO / UP Express. Multiple TTC buses also serve the area.
- Bike lanes along Bloor Street West and multi-use trails through High Park strengthen non-vehicular connections. However, some of these bike lanes currently face potential threats from provincial policy changes.
- The project fits into an area already experiencing growth: apartment towers to the north, mid- and high-rise complexes to the west, and numerous proposals for new developments nearby. Examples: 299 Glenlake (11 storeys), 30-storey tower at 111 Pacific Avenue, multiple towers along Bloor West.
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Why It Matters
This dual tower proposal is significant for several reasons:
- It pushes the envelope on density and height in High Park North, setting a new benchmark for residential scale in a neighbourhood known for lower-rise housing stock.
- By delivering a large number of rental and mixed-unit types (including family-sized 2- and 3-bedrooms), it responds to market demand for varied housing, including for multi-person households and those who prefer rental over ownership.
- The transit-oriented nature (walkable to subway and GO / UP Express) supports city planning goals around reducing car dependency and increasing public transit usage.
- Amenities, POPS, and pedestrian linkages show an interest in not just building tall but building community-oriented spaces.
Final Thoughts
The proposal for dual rental towers near High Park at Oakmount and Mountview reflects Toronto’s evolving housing needs: more purpose-built rental supply, more density in transit-accessible areas, and more attention to community amenities and connectivity. If approved, this project would likely reshape the skyline of High Park North, but importantly, it would also reshape the social fabric—bringing new housing options for renters of different sizes and incomes, and enhancing walkability and transit usage.
However, challenges remain: ensuring affordable housing components remain meaningful, mitigating impacts such as shadowing, traffic, and strain on transit and public services, and maintaining the character of the surrounding low-rise neighbourhoods. Public consultation and design refinement will be essential to balancing growth with livability.
For prospective renters, neighbours, investors, and city planners, this development is one to watch. It could become a case study in whether Toronto can successfully accommodate growth without sacrificing community character. As the zoning and Official Plan amendments undergo review, monitoring the details—unit mix, height adjustments, public amenities, and affordability commitments—will be crucial.
