Toronto 41 Berwick Avenue | 170.5m | 49s | Stafford | Turner Fleischer

[AlbertC]

Greybrook Invests $22,850,000 in a High-Rise Residential Development Project with Stafford Homes in Toronto, Ontario - Greybrook

New residential development establishes the firm’s presence in Midtown Toronto. Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $22,850,000 to acquire and oversee the development of a prime parcel of land located west of...

greybrook.com

Greybrook Invests $22,850,000 in a High-Rise Residential Development Project with Stafford Homes in Toronto, Ontario​

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $22,850,000 to acquire and oversee the development of a prime parcel of land located west of Yonge Street on Berwick Avenue, immediately south of Eglinton Avenue in Toronto, Ontario. Together with its developer partner, Stafford Homes, Greybrook will develop the land into a high-rise condominium consisting of over 500 smaller-scale units with limited resident parking, in line with the latest city-wide parking standards enacted by Council.

Nestled in the vibrant center of Midtown Toronto, this development site is conveniently located off Yonge Street and its lively shops, restaurants, cinemas, performing arts theatres, and cafés. Residents will benefit from the nearby Farm Boy grocery store, Yonge-Eglinton Centre, Eglinton and Oriole parks, and an array of other amenities catering to daily needs.

The site offers exceptional connectivity, situated in one of Toronto’s most transit accessible areas, granting easy access to the Toronto Transit Commission’s (TTC) Eglinton Station, with Union Station reachable in approximately 15 minutes.(1) Additionally, the property will be within a short walk to the future Metrolinx Eglinton Crosstown Light Rail Transit (LRT) line. This 19km corridor, featuring 25 stops, spans Eglinton Avenue from Mount Dennis (Weston Road) to Kennedy Station and offers connections to 54 bus routes, three TTC stations, GO lines, and the UP Express to the airport. The LRT is anticipated to commence operations in 2025.(2)

“We are pleased to announce the acquisition of a strategically located site in the vibrant core of Midtown Toronto, a high-growth urban centre with exceptional long-term fundamentals,” said Sasha Cucuz, CEO of Greybrook Securities. “This dynamic area continues to rapidly evolve, with significant developments in residential, office, and mixed-use development properties, underpinned by robust transit infrastructure and sustained population growth. In partnership with Stafford Homes, we look forward to delivering a transit-oriented community that aligns with our strategy of investing in well-located, high-density projects that drive long-term value creation.”

Yonge and Eglinton - Greybrook

Greybrook invested equity capital alongside Stafford Homes and is overseeing the development of our Yonge and Eglinton project. Located at 29,31,41,43, and 45 Berwick Avenue in Toronto, the development site is conveniently situated steps from Yonge-Eglinton, a well-established and dynamic...

greybrook.com

Equity Investment: $22,850,000
Address: 29, 31, 41, 43, and 45 Berwick Avenue, Toronto, ON
Asset Type: High-Rise
Total Units: 500+
Developer Partner: Stafford
Status: Active

 

[Northern Light]

Look at Albert C scooping me.

I got background on this one recently, but was both trying to fill in some gaps.......and find something public I could reference.

This assembly is immediately west of the new Mx building on Berwick.

Aerial View:

Site size: ~ 18200m2/20,000ft2

Streetview:

Notes:

This is currently zoned yellowbelt, so far as I know; but I'll let @innsertnamehere double check me on that.

Proposal here will be in the 50s range. (that was in the Renx article originally but edited out.)

 

[ProjectEnd]

Yep:

 

[Koops65]

Yes, 500 units would be a 40 - 50 floor tower here.

 

[innsertnamehere]

A reminder that zoning doesn't matter - OP Designation does

Nonetheless.... Indeed, it's Neighbourhoods:

The city is increasingly willing to entertain Neighbourhoods redesignations these days though, so it's not a "no-go" problem like it would have been 5 years ago.

 

[Northern Light]

I think the case is there to transition this into MTSA type density, but once you open this can of worms, I think you have to at least look at the entire block bounded by the tracks, Duplex and Hillsdale.

It may also suggest opening up anything east of Duplex to the south.

That then impacts on the idea of decking over the open cut as parkland (shadows will come into play if you go further south).

If one goes no further south than Hillsdale (or stops at any logical point, Planning will want some transitional scale at the south and west extremes.)

 

[AlexBozikovic]

In retrospect, this is interestingly timed.

https://www.cbc.ca/news/canada/toronto/yonge-eglinton-berwick-willow-1.7511975

 

[Northern Light]

Application is now into the AIC:

Architect: Turner Fleischer

Height: 49s

@Paclo

The App:

Application Details

www.toronto.ca

From the above:

Site Plan:

Ground Floor Plan:

Elevator Ratio: 552 units to 4 elevators gives 1 elevator per 138 units.

I put that here, instead of at the end.......cause when you see the layout here, while its no not egregious, they are again crowding in too many under sized units:

Multiple 1brms are under 500ft2, which is not a 1bdrm its a Studio. The 3brdrm in the bottom right is not only an odd shape, but only a bit over 800ft2 which just 2 cramped.


A rearrangement here would see eh jut-out of the 3bdrm consolidated to the adjacent 1bdrm to the left; this would see that unit over 500ft2. Meanwhile the one bdrm centre-right should be divied up adding about 200ft2 to the 3brm to get it just over 900ft2, then take the remaining 270'ish and consolidate to the adjacent 1 bdrm and good sized 2 bdrm.

Its a bit more shuffling, but if you take one other unit, and hold the bed room count steady, you faster lease up at higher rates, and lower construction costs, plus you get a reasonable unit to elevator ratio.


****

 

[HeartoftheTempest]

I think the case is there to transition this into MTSA type density, but once you open this can of worms, I think you have to at least look at the entire block bounded the tracks, Duplex and Hillsdale.

The Block Context Plan filed by the applicant does almost exactly that

 

[Northern Light]

The Block Context Plan filed by the applicant does almost exactly that

Indeed: (Applicant's Block Context Plan)

 

[artyboy123]

Indeed: (Applicant's Block Context Plan)

View attachment 668384

View attachment 668385

lmao..."soft site" man!

This development hit the spot for me as i used to live around the area! Crazy to see the amount of insane density around duplex Avenue...given the street is highly congested along up to the yonge and eglinton intersection.

 

[artyboy123]

29-45 Berwick Avenue | Myriad Development Services

The only team in the GTA that specializes in representing developers structure off-market residential land development transactions.

www.myriaddevservices.com

@AlbertC @Northern Light

 

[ProjectEnd]

HAHAHAHAHAHAHAHAHAHA

 

[alfred the butler]

Are those south set backs reasonable? 2M to the south?

 

[HeartoftheTempest]

Are those south set backs reasonable? 2M to the south?

By the 2nd floor balcony planting, the setback is 5m and from the 2nd floor window wall the setback is actually 8.5m. That doesn't strike me as too unreasonable.

I've seen much less (essentially lot line to lot line) for two buildings next to one another in areas designated as mixed use. The issue here is that with the OPA filed, the rear lot line essentially becomes the new boundary to the Neighbourhoods area designation to the south.