I would say that there should be residential development on these lands, along with office, retail, a school, and athletic grounds, all connected to a new GO and TTC hub.
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Toronto 2150 Lake Shore | 215.75m | 67s | First Capital | Allies and Morrison
- Thread starter AHK
- Start date
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Filip
Senior Member
That seems quite low even zoned employment lands. Didn't empire pay over $100m for the EDS site?
Keyz
Active Member
Agreed, I wonder if the fact that the site was bought by CPP makes this outcome more likely than when it was owned by Mondelez. Last I've heard Mondelez had submitted 40 policy-related appeals and 200 site-related appeals to OMB. Do the new owners take over the proceedings?
Amare
Senior Member
I disagree with you on the residential development component, but i'm with you on every thing else that you listed. In fact, I think every other component should be mandatory for this site.
I'm all about mixed use. Putting residential in means that there will be "eyes on the street" for whatever new streets end up on that property at all hours, and you won't end up with dead sections after business hours. I wouldn't want a repeat of the density of residential from the south side of Lake Shore to be repeated on the north side, but I would still want a healthy mix.
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Memph
Active Member
Makes me wonder if maybe they aren't going to build much here. Or if they think there's a high risk they won't be able to get the rezoning.
Filip
Senior Member
Employment lands means they can build stores, right? Not sure how this really works...
I assume Mondelez didn't want to hold onto the land and wait until the OMB fight is over, so they sold at a deep discount. The size of this land is massive.
CPPIB's involvement is interesting. They were involved in the Stockyards development which was also a First Capital project. However, that won't be good enough for the community. Anything that would strongly increase traffic and not give back in spades to the area will have the fight of its life ahead of it.
Are you sure there was any First Capital money in The Stockyards? It was Trinity Group and Rio Can, and is now fully Rio Can from what I can gather.
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Filip
Senior Member
D'oh you're right. I got confused.
Did FC do anything remotely urban as a new build? Looking through their site I see nothing but plaza type developments anchored by grocery stores.
I know they're doing good things in Yorkville but they're not really building anything new either. And it's yorkville...
Did FC do anything remotely urban as a new build? Looking through their site I see nothing but plaza type developments anchored by grocery stores.
I know they're doing good things in Yorkville but they're not really building anything new either. And it's yorkville...
Their Humbertown Plaza redevelopment plans are pretty interesting… It's a complete rebuild.
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maestro
Senior Member
Not the types to be interested in building condos. Well, I guess there's room to build commercial and sell of a portion to a condo developer or a rental apartment holding company.
Well, as I just mentioned, they are behind the Humbertown Plaza redevelopment (which is only a 15 minute bike ride from here), and which has a substantial residential component, to be built by Tridel. Meanwhile, FCap have taken the lead on King HighLine (formerly Kingsclub when Urbancorp was on top), so they've been getting more involved in residential in recent years.
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jcam
Active Member
CPP's investment would make me think if there was any residential, it would likely be rental. Don't think they're ever in something for a quick buck...they play the long game of continued cash flows.
WislaHD
Superstar
Not a bad thing, mixed residential types would be a good thing for this neighbourhood.
I am happy to see a serious development firm take charge of this site, but City Planning really needs to get their shit together and direct what needs to be built on this site (schools, for one).
Waterfront Toronto's mandate needs to be extended to Etobicoke's lakeshore.
Amare
Senior Member
I wouldnt count on City Planning doing anything to be honest. They've had at least 5 years to figure out what to do with the neighborhood as it was developing, and at least 10 years to figure out what to with the neighborhood as a whole before condo galore was built along this strip. And they've done virtually nothing during all this time. Part of the reason is that they are handcuffed with the limited funding they are given by the city (although that really isnt an excuse in this case).
I wholeheartedly agree with you about WT, but it's already a case of being too little too late. Had Waterfront Toronto been in charge, Humber Bay wouldnt have turned into Liberty Village #2 as it would have been a responsibly planned neighborhood.