Parallax Investment Corporation, the owners of a five-storey office and retail building at 203 College Street across fromt he University of Toronto's St. George Campus, have a revised plan a new condominium tower on the property. When we last checked in just over two months ago, we reported that the Ontario Municipal Board (OMB) required a redesign of the building within six months before it would approve the rezoning application. Architects Page + Steele / IBI Group have now completed the redesign, and new renderings to market Theory Condos are now appearing. 

Theory Condos by Page+Steele/IBI Group for Parallax Investment CorporationNew rendering of Theory Condos, image courtesy of Parallax Investment Corporation

The redesign addresses a number of issues identified at the OMB hearing, the most pressing of which were greater separation distances that were required from neighbouring buildings. The initial proposal saw the tower set back 5.5 metres from the centreline of the public laneway to the east of the site. The Board however concluded that a setback of 12.5 metres was required, supporting the City's guideline of 25 metres separation between tall buildings. Additionally, the Board required an increase in the setback of the podium level floors to the adjacent low-scale buildings to the south.

The recreational amenities of the original plan would have seen indoor and outdoor space used on the third and fourth floors, including outdoor space facing south. The Board ordered that the space be situated on the north side, reducing the overlook of the southern buildings and increasing privacy for their occupants. 

Theory Condos by Page+Steele/IBI Group for Parallax Investment CorporationNew rendering of Theory Condos, image courtesy of Parallax Investment Corporation

The exterior expression and materiality of the revised building design has greatly changed. The previous iteration consisted of a combination of a white-panel cladding system accompanied with window wall, while protruding balconies were seen on the north face. The new design replaces the white panels with shifting four-storey black-paneled rectangular frames. The podium level has shifted some massing from the south side to the northeast, addressing concerns about the amenity space. 

Another hearing will take place on June 28th, when the Board will presumably decide whether this new design fulfills the criteria it set for approval. In the meantime, Parallax is preparing for marketing with a launch to come later this summer.

Theory Condos by Page+Steele/IBI Group for Parallax Investment CorporationNew rendering of the ground realm of Theory Condos, image courtesy of Parallax Investment Corporation

Once the project reaches completion, Theory will rise 29 storeys, providing 309 residential units, with retail at ground level, and office space located within the podium. Assuming the Board gives the green light for the rezoning application, Parallax can submit their Site Plan Application, which will provide detailed specifics on the reallocated space and exterior components. 

We will keep you up to date on Theory Condos. Additional information and renderings can be found in the project's database file, linked below. Want to share your thoughts on the new design? Feel free to leave a comment in the space provided on this page, or join in the ongoing conversation in the associated Forum thread.