Another new development application (highlighted in orange above) has been submitted to the city of Toronto outlining a massive seven-tower development near the corner of Yonge and Steeles beside Centerpoint Mall.
The developer is requesting official plan and zoning bylaw amendments to accommodate a redevelopment of the subject site with seven new mixed use towers ranging from 25 to 55 storeys.
The proposed development includes 3,325 new residential units are proposed, in a mix of unit types, including grade-related integrated townhouse units, market condominium units and residential rental dwelling units.
According to the planning rationale for the development submitted to the city, the site, listed as 5 and 15 Tangeen Ct., is currently occupied by “two slab-style ‘tower in the park’ apartment buildings and surrounded by existing low-rise light- industrial buildings and retail uses, which are planned to accommodate future mid-rise and tall buildings.”
The plan, according to the application, is to keep one of the existing buildings at 15 Tangreen Ct., and demolish the rental building at 5 Tangreen Ct.
According to comments made by Julian Schonfeldt, developer CAPREIT’s Chief Investment Officer, accommodation will be made for those currently renting on site, including the offer of a replacement unit in the new development in addition to relocation assistance. CAPREIT (Canadian Apartment Properties REIT) has teamed up with CentreCourt for this development.
“That was by design and a duty of care to our residents,” Schonfeldt told Urban Toronto. “We didn’t take the easy way, from a financial point of view, but just being a responsible provider of rental housing, it was one of the most important considerations. Our residents and their families get to stay in the same schools, they get to stay in the same neighborhood. I think it’s going to be well received and we hope we’re setting a good precedent in Toronto about how to do it in a responsible way that considers residents first.”
The application is one of a slew of new developments proposed for the immediate Yonge and Steeles area the likes of which has not been seen in city history (see image above courtesy of developer CentreCourt). The spike in proposals is highlighted a massive 22-tower proposal for the Centerpoint Mall site itself, which is immediately east of the Tangreen Court proposal.
The Centerpoint and Tangreen proposals both include new proposed park space for the tens of thousands of new residents who will live in the area. The Tangreen plan includes open space and a 1,910-square-metre public park.
What is driving the huge development boom in the entire Yonge and Steeles corridor in Toronto, Vaughan and Markham is the Yonge Street North subway extension as well as the push by the provincial and municipal governments to increase development density at transit nodes.
“In our opinion, the proposal represents good planning and urban design, and reflects an opportunity to assist in the creation of a new, transit-supportive, complete community proximate to the planned Steeles subway station,” reads the planning rationale report in the development application. “In summary, the subject site has been planned to optimize the use of land and infrastructure and will reurbanize an underutilized site.”
