Forum Asset Management has announced a new 18-storey student residence. The developer aims to roll out 223 new units in the Cabbagetown neighborhood which neighbors Toronto Metropolitan University (TMU), University of Toronto (UofT), George Brown College, and Ontario College of Arts and Design University (OCAD).
The student rentals will sit at 307 Sherbourne Street, the property approved for 15 storeys containing 112 residential units was previously owned by Oben Flats. Forum’s Zoning Bylaw Amendment Application to increase the unit count and alter the composition of units was approved back in December 2023.
However, in August, the developer submitted an updated Zoning Bylaw Amendment Application with changes including an addition of three stories. The application is currently pending review.
Given the application is greenlit, Superkül is set to design the building with frontage on Gerrard Street East and Sherbourne Street. The empty lot is square in shape spanning 1,311 sq. m. Here’s how the 223 units will be divided across 9,113 sq. m.
- 181 studio apartments
- Nine one-bedrooms
- 22 two-bedrooms
- 12 three-bedrooms
In addition, the amenities would include
- Four vehicle parking spaces
- 244 bicycle spaces
- Indoor amenity space spread across 497 sq. m and 171 sq. m outdoors
As per the plan, the developer intends to “enhance the Sherbourne Street and Gerrard Street East streetscapes by extending the pedestrian-friendly boulevards and activating the site with new landscaping, and an attractive building design.”
Forum Asset Management appears excited, and its plans seem well-intentioned. Even though the vision is lofty, the company is taking mini steps to make it a reality.
