In your opinion, Do you think that the nearby TCHC townhouses at 111 and 139 Stephenson will ever be redeveloped or revitalized in the future?
I mean redeveloped or revitalized to rent geared to income or market rent developments like Alexandria Park, Lawrence Heights or Don Summerville?
Either by TCHC, the city of Toronto or a private developer?
since the area is quite underdeveloped and is close to TTC subway and GO transit
(Main Street Planning Study)
The site was excluded from the Main Street Planning Study.
For that reason alone, I would think the answer is no, in the near-term.
One must also consider context, the site is separated from Main Street by a hydro transformer station.
While it is largely opposite single-family residential.
That picture doesn't suggest the opportunity for vast density increase.
There's only a single row of surface parking in the interior.
And no significant open space
Certainly the south side of the street here has 2 neighbours largely indifferent to height (hydro and the railway); the park to the west doesn't care, but some of its regulars may well.
I think before this site goes, you would have to see some of the SFH on the north side of the street go, possibly whenever the Sobeys site on danforth goes.
Once that happens, I think more interesting possibilities follow.
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But remember, the City will insist in any revitalization on retaining the Rent-Geared-Income units; and that cost needs to be largely or entirely offset by whatever new market density the site can support.
Assume here you would lose 10% of the site to an expansion of the adjacent park.
It's not impossible, but would be a tight fit to get 2 towers on site.
But getting enough density to cover the cost of renewal is not immaterial.
So my overall conclusion is not in the near term.
But ya never know.