Tunnel boring machines that will assure Yonge and Eglinton's continued status as midtown's main transit hub are drawing nearer, while retail and residential intensification of the intersection is under way with work on the Yonge Eglinton Centre expansion and the ambitious E Condos development on the northwest and northeast corners of the intersection. Now it would appear that a major redevelopment is planned for the southeast corner of the intersection too: a rezoning application has been posted on the City of Toronto's website for 1 Eglinton Avenue East for a 68 storey mixed-use building containing office, retail, 662 residential units, and 6 levels of underground parking.
The site at the southeast corner of Yonge and Eglinton currently holds an eight-storey, 138,929 square-foot commercial office building with direct subway access and retail space at grade. The building was constructed in 1985 and according to leasing information available online, is currently managed by Davpart, the developer behind the recently-approved 481 University redevelopment proposal.
Though the site isn't currently zoned for a high-rise mixed use building, the precedent for towering high-rises has already been set at Yonge and Eglinton by the 58-storey E Condos project to the north and the existing 54-storey Minto Midtown development to the south, giving 1 Eglinton East considerable redevelopment potential.
Nothing else is currently known about the redevelopment proposal. We look forward in coming months to elevation diagrams that will give us our first taste of the project's design and massing. In the meantime, you can keep track of the proposal by visiting our Forum thread for the project.
|Related Companies:||Davpart, Hariri Pontarini Architects|