Toronto 49 Ontario Street | 152.4m | 44s | Dream | a—A
- Thread starter Edward Skira
- Start date
artyboy123
Senior Member
New renderings are updated in the database. The overall storey count changed from 39, 34, and 10 storeys to 42, 39 & 10-storey. Height changed from 136.05m, 120.55m, 39.15m to 150.40m, 138.90m, 44.00m. Unit count changed from 894 units to 1004 units. Parking changed from 205 parking to 253 parking.
Renderings are taken from the architectural plan via Rezoning!
Renderings are taken from the architectural plan via Rezoning!
Lachlan Holmes
Active Member
There were new architectural drawings uploaded to the AIC as of November 22nd, 2022. I didn't see any updated renderings, but the design has changed a bit. Notably, the west tower no longer features a cantilever, and the existing houses along Berkeley are being retained. Building heights have been revised as well. Elevation drawings:
Some stats from the addendum to the Planning Rationale:
All images sourced from the AIC.
Some stats from the addendum to the Planning Rationale:
All images sourced from the AIC.
artyboy123
Senior Member
New updates in the database! The total story count changed from 42, 39 & 10-storey to 44, 39 and 11-storey. Total height changed from 150.40m, 138.90m, 44.00m to 152.40m, 139.90m, 43.75m. The total unit count changed from 1004 units to 1094 units. Finally, total bike parking changed from 1079 bike parking to 1242 parking.
richsherb
New Member
Public meeting scheduled:
NOTICE OF PUBLIC MEETING
To be held by the Toronto and East York Community Council (Under the Planning Act)
Request to Amend the Zoning By-law Application Number 19 244188 STE 13 OZ
Location of Application: 49 Ontario Street and 72-94 Berkeley Street
Applicant: Tony Medeiros, Dream
Date: April 12, 2023
Time: 10:00 a.m., or as soon as possible thereafter
Place: Committee Room 1, Toronto City Hall and by Video Conference
PROPOSAL
The application to amend the Zoning By-law for 49 Ontario Street and 72-94 Berkeley Street proposes to permit three buildings of 11, 39 and 44 storeys containing 1,099 square metres of retail, 15,206 square metres of office, and 64,373 square metres of residential with 1,094 dwelling units, conservation of the existing rowhouses at 72-78 Berkeley Street, and a 581 square metre public park along Berkeley Street.
Detailed information regarding the proposal, including background information and material may be obtained by contacting Paul Johnson, Senior Planner at 416-397-0259, or by e-mail at Paul.M.Johnson@toronto.ca
NOTICE OF PUBLIC MEETING
To be held by the Toronto and East York Community Council (Under the Planning Act)
Request to Amend the Zoning By-law Application Number 19 244188 STE 13 OZ
Location of Application: 49 Ontario Street and 72-94 Berkeley Street
Applicant: Tony Medeiros, Dream
Date: April 12, 2023
Time: 10:00 a.m., or as soon as possible thereafter
Place: Committee Room 1, Toronto City Hall and by Video Conference
PROPOSAL
The application to amend the Zoning By-law for 49 Ontario Street and 72-94 Berkeley Street proposes to permit three buildings of 11, 39 and 44 storeys containing 1,099 square metres of retail, 15,206 square metres of office, and 64,373 square metres of residential with 1,094 dwelling units, conservation of the existing rowhouses at 72-78 Berkeley Street, and a 581 square metre public park along Berkeley Street.
Detailed information regarding the proposal, including background information and material may be obtained by contacting Paul Johnson, Senior Planner at 416-397-0259, or by e-mail at Paul.M.Johnson@toronto.ca
Northern Light
Superstar
Report on this one to next week's Preservation Board, with approval for the Heritage component proposed:
Northern Light
Superstar
Decision Report, Approval Recommended to the next meeting of TEYCC:
From the above:
Of note here is the City accepting Floor Plates above guideline size in exchange for achieving a range of objectives here:
From the above:
Of note here is the City accepting Floor Plates above guideline size in exchange for achieving a range of objectives here:
RCEO
New Member
Legal Name or ownership has changed. Has this project owned 100% by dream impact (MPCT-UN.TO) brought in a partner to develop?
canadianlei.com
MPCT 49 ONTARIO STREET LP - 54930001EVF1FCZBHE62 (Issued) - Canadian LEI
Canadian LEI's database is integrated with the Companies Registry, which allows us to automatically query and update your company's data.
canadianlei.com
AlbertC
Superstar
Dream Impact Trust taking steps to improve liquidity
Dream Impact Trust’s (MPCT-UN-T) developments continue to make good progress, but the trust is suspending its monthly distribution to retain an additional $11 million annually amid concerns about liquidity, its portfolio manager said.
renx.ca
Dream Impact is continuing to look for partnership opportunities to redevelop Toronto’s 49 Ontario St., a wholly owned 88,000-square-foot commercial building that achieved rezoning for approximately 809,000 square feet of residential and 68,000 square feet of non-residential space last May.
The site is expected to add approximately 1,250 residential units to the downtown node and Cooper would like to start developing it next year.
RCEO
New Member
Dream Impact (MPCT-UN.TO) just released their Q2 Financials and said they are taking steps to get this project started.
"We have made significant progress on the construction financing for 49 Ontario and are working through partnership opportunities so that the $700.0 million development will advance and we will repay the land loan."
"We have made significant progress on the construction financing for 49 Ontario and are working through partnership opportunities so that the $700.0 million development will advance and we will repay the land loan."
RCEO
New Member
MPCT-UN.TO (100% owner) has communicated their intent to sell 75% of 49 Ontario, for around 130M (their estimate).
Mayor Olivia Chow announced a couple days ago she is expediting to waive development charges on new builds which will save development charges of around 30-40M on this one project alone. It surprises me how much is charged for development fees. On top of this, much of the property tax will be waived.
Project would need to be 20% affordable (which aligns with CMHC), and was already the plan for this development.
Read more here:
Executive vote next week at the city.
Mayor Olivia Chow announced a couple days ago she is expediting to waive development charges on new builds which will save development charges of around 30-40M on this one project alone. It surprises me how much is charged for development fees. On top of this, much of the property tax will be waived.
Project would need to be 20% affordable (which aligns with CMHC), and was already the plan for this development.
Read more here:
Executive vote next week at the city.
ProjectEnd
Superstar
Yeah...
Northern Light
Superstar
I take you're not the 75% buyer PE.............
RCEO
New Member
That's the one. They own a portfolio of high quality Toronto and Ottawa Assets we all love here. Lots of their developments are coming online and their income is about to surge as they do.
They are also owners of big chunks of:
Maple House
Birch House
Cherry House
Oak House
Forma (both towers)
IVY Condos (just closed)
Quayside
Victory Silos
49 Ontario
Weston Commons
70 Park
Brightwater Master Community
Scarborough Junction Master Community
Zibi (Aalto, Aalto II, Common, etc)
Dream Lebreton
All high quality and beautiful stuff about to start producing big income.
ProjectEnd
Superstar
Most importantly...