As downtown real estate prices soar, developers are pushing themselves to find more creative ways of making small plots of land profitable. Other projects on small pieces of land include Theatre Park, and Residences at the RCMI is continuing the trend. The recently completed Shangri-La brought new residential space to the area, RCMI is bringing some more residential development to a University Avenue, a street traditionally devoted to business, health care, and politics.
Squeezed between two office buildings on University just south of Dundas, RCMI will bring 315 high rise condominium suites ranging in size from 494 to 763 square feet at this central downtown location. The building is currently under construction with the first signs of cladding appearing just recently. Although the eventual height of 442 feet is a long way off, RCMI is rising slowly but surely and should be complete by late 2013.
This eventual 42-storey Tribute Communities building was designed by Zeidler Partnership Architects, and there are plans to achieve a LEED certification. We'll be keeping a close eye on the tower's progress as it rises over the neighbourhood in the next year.
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