unimaginative2
Senior Member
New dwellings planned for Dupont
DAVID GEORGE-COSH
August 22, 2007
The wheels of change are rumbling toward the northern edge of the Annex, one of the city's major property developers says.
Paul Wynn, who helps run the Wynn Group property management company with his brother Jeffrey, said he is looking into turning the property that stretches from 328 to 356 Dupont St., near Spadina Avenue, into a mixed commercial and residential development.
Rookie local councillor Adam Vaughan acknowledged that he has met with the Wynn brothers to talk about their plans, but said it will be some time before any formal development process begins.
"They're trying to figure out what the economics are for all the different types of projects and whether it's even worthy of going forward from there," said Mr. Vaughan (Ward 20, Trinity-Spadina). "I'm going to take them at their word, but at the same time I'm going to make sure that the neighbourhood knows that it's being looked at."
Mr. Wynn said he appreciates the strategic location of the property: It is large (about 46,000 square feet) and lies close to a subway station. (It is currently occupied by two four-storey buildings that are home to a mix of residential and commercial tenants.) He said he has kicked the tires on an idea to construct a family-oriented "15-storey building with some green space and townhouses ... with bigger apartments, about 1,000 to 1,500 square feet each."
He says he also considered a proposal for a three-storey big-box retailer with a three-storey parking garage.
No applications to redevelop the property have been filed yet and Mr. Wynn said he will collaborate with architects, the residents association and business-development groups to determine the best fit for the neighbourhood.
Robert G. Brown, a director of the Annex Residents' Association, said he looks forward to discussing Mr. Wynn's plans at a meeting that is expected to take place next month.
"I think there'll be a lot of interest, but I don't think there'll be any significant change in the next three to five years. There's so much going on right now. How many new buildings can this city absorb?" he said.
While Mr. Wynn decides on how to reshape his property, he said he is mindful of changes brewing in another corner of the Annex - the Honest Ed's building on the corner of Bloor and Bathurst Streets, which many expect to be redeveloped after the passing of Ed Mirvish.
"I guess that's going to have limited time because the land value is worth more than the business today," Mr. Wynn said. "I have no doubt in my mind that Honest Ed's will not be there five years from now."
DAVID GEORGE-COSH
August 22, 2007
The wheels of change are rumbling toward the northern edge of the Annex, one of the city's major property developers says.
Paul Wynn, who helps run the Wynn Group property management company with his brother Jeffrey, said he is looking into turning the property that stretches from 328 to 356 Dupont St., near Spadina Avenue, into a mixed commercial and residential development.
Rookie local councillor Adam Vaughan acknowledged that he has met with the Wynn brothers to talk about their plans, but said it will be some time before any formal development process begins.
"They're trying to figure out what the economics are for all the different types of projects and whether it's even worthy of going forward from there," said Mr. Vaughan (Ward 20, Trinity-Spadina). "I'm going to take them at their word, but at the same time I'm going to make sure that the neighbourhood knows that it's being looked at."
Mr. Wynn said he appreciates the strategic location of the property: It is large (about 46,000 square feet) and lies close to a subway station. (It is currently occupied by two four-storey buildings that are home to a mix of residential and commercial tenants.) He said he has kicked the tires on an idea to construct a family-oriented "15-storey building with some green space and townhouses ... with bigger apartments, about 1,000 to 1,500 square feet each."
He says he also considered a proposal for a three-storey big-box retailer with a three-storey parking garage.
No applications to redevelop the property have been filed yet and Mr. Wynn said he will collaborate with architects, the residents association and business-development groups to determine the best fit for the neighbourhood.
Robert G. Brown, a director of the Annex Residents' Association, said he looks forward to discussing Mr. Wynn's plans at a meeting that is expected to take place next month.
"I think there'll be a lot of interest, but I don't think there'll be any significant change in the next three to five years. There's so much going on right now. How many new buildings can this city absorb?" he said.
While Mr. Wynn decides on how to reshape his property, he said he is mindful of changes brewing in another corner of the Annex - the Honest Ed's building on the corner of Bloor and Bathurst Streets, which many expect to be redeveloped after the passing of Ed Mirvish.
"I guess that's going to have limited time because the land value is worth more than the business today," Mr. Wynn said. "I have no doubt in my mind that Honest Ed's will not be there five years from now."
