Given recent events, it's prudent I update my posts from 2 years ago,.... where I stated Ghods' 5959 Yonge project likely won't see shovel in ground for decades based on:
- Yonge Subway north extension not being done until around 2045 (City forecast at time)
- City's Yonge Street North Secondary Plan in final draft but really written as just-in-case scenario if rouge developer north of Cummer/Drewry wins at OMB or Subway extension north happens
https://urbantoronto.ca/forum/threa...s-kirkor-architects.15020/page-4#post-1251265
https://urbantoronto.ca/forum/threa...s-kirkor-architects.15020/page-4#post-1255317
Recent events in the last few months:
- Provincial PC Government have committed to getting Yonge Subway north extension completed by around 2029-2030 (about 10 years from now) - with solid funding
- City been finalizing Yonge Street North Secondary Plan from final draft mode to reality - but strong opposition to having new condo residents move in before Yonge Subway north extension open. Given it takes about 2 years application phase plus 4-5 years construction, we could see Yonge Street North Secondary Plan accept development proposal in 3 years from now - 2022?
- Ghods cancelling 5959 Yonge project they sold at 2014 prices,....
While Ghods has been bailing on their current 5959 Yonge project,.... over the years, they've continue to acquire more land for a larger land assembly (besides 5959 Yonge, as of May 2019 Ghods and it's various entities owns 44, 46, 48 & 50 Cummer Ave, 1, 2 & 6 Doverwood Court and 11 & 15 Wedgewood Court - all with a Ghods named as owner or have the same 333 Sheppard East unit 300 mailing address for the office of Ghods Builders - all marked in Red)... and potentially getting ready for a much larger future Ghods project here - but it's not that simple:
- since large development project within North York Centre Secondary Plan & thus this Yonge Street North Secondary Plan requires driveways to empty out onto side-street or service road whenever possible. IE: 5959 is landlocked if it can't empty traffic onto Yonge,... their original proposed north-south service road was too close to Yonge and didn't align with Silvercore/Aoyuan's M2M J-shaped service road
- the newer proposed service road in Ghods' master-plan still doesn't align with Silvercore/Aoyuan's M2M J-shaped service road - because 5945-5949 Yonge (existing 15-storey condo on L-shaped lot) is in the way!
- Existing 15 storey old condo apartment building (individually owned units) at 5945-5949 Yonge has large L-shaped adjacent land south & east of 5959 Yonge
- Other land-owners in area - mostly family homes, property-investors or other land-assembler (5935 Yonge, 40 & 42 Cummer in Blue)
- NOTE: I'm not able to trace ownership of 2 empty lots (coloured in Green) directly east of 5959 Yonge (both about 100ft X 100ft) and thus did not colour them Red like other Ghods properties but I suspect they're owned by Ghods - giving them direct link between 5959 Yonge with Doverwood Court properties for Service Road
This map is Ghods' 5959 MasterPlan - including land Ghods owns (Red) and land they don't (not highlighted or Blue for another land-assembler); Green highlighted land between 5959 Yonge and 1 & 2 Doverwood Court is likely Ghods'
Yes, Ghods Builders also owns 333 Sheppard Ave East where their office is on 3rd floor
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