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Past Weston Road's eclectic strips of retail and the mid-century slab apartment towers that surround it, pockets of Toronto's Weston Village neighbourhood retain a quasi-industrial character. In its low-slung collection of warehouses, auto body shops, and truck parking—as well as a single detached home—the inconspicuous Wilby Crescent is one such locale. Taking advantage of the relatively approachable land values afforded by the somewhat unorthodox location, an irregularly shaped 3,851 m² site overlooking the Humber River at 10 Wilby Crescent is set to be redeveloped as an affordable condo community by private non-profit developer Options for Homes.
Located south of the Weston and Lawrence intersection, the lot—which has been in play as a redevelopment site since at least 2013—remains occupied by vacant single-storey warehouse structure. Just over three years ago, a proposal for a 10-storey condominium dubbed 'The Riverstone' was submitted to the City. Featuring a design that drew its stylistic cues from Frank Loyd Wright's Fallingwater house in Pennsylvania, the HCA Architecture-designed project featured 131 residential units, and was developed by the Neighbourhood Concepts for Non-Profit Corporation (NCNC).
In the years since, the the project was taken over by Options for Homes, and is now marketed as 'The Humber.' Following a small land swap—which allowed for a more regular site—the scope of the project was also enlarged, with plans for a 16-storey, 234-unit development coming to our attention earlier this year. Now designed by Architecture Unfolded, a proposed amendment to York Zoning Bylaw 1-83 was formally submitted to the City of Toronto in late October, bringing new details of the project to light.
The development now features a 16-storey tower and extending 10-storey base structure, with the angular massing of the two elements a response to the shape of the site. Among the 234 suites, a mix of 14 bachelor, 33 one-bedroom, 69 one-bedroom + den, 56 two-bedroom, and 62 two-bedroom + den units is planned.
Although the height and density of the development has markedly increased, the project does not face significant planning obstacles, requiring only a local by by-law amendment to allow the 16-storey height. As the site is designated as part of an Apartment Neighbourhood in the City of Toronto's Official Plan—permitting the increased density—no Official Plan Amendment is required.
The Options for Homes development model takes advantage of unconventional,and sometimes overlooked, sites to provide more affordable entry points to the market. The developers' projects—which are built by Tridel's Deltera—typically also feature relatively modest amenity spaces, which allows for further savings (the 234-unit proposal calls for a 335 m² of indoor amenity spaces).
Under Options for Homes' model, the suites are also sold at cost, which passes additional savings onto the purchaser. The would-be profit margin (i.e. the difference between the construction cost and market value) is also offered to the buyer as a contribution to the down payment. Supplemented by the appreciation in the property's value, the contribution is then repaid to Options for Homes once the property is sold, with the funds then re-allocated towards the development of new housing.
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We will keep you updated as more information becomes available, and the project makes its way through the approvals process. In the meantime, you can learn more by checking on our dataBase file, linked below. Want to share your thoughts about the project? Leave a comment in the space provided on this page, or join the conversation in our associated Forum thread.
| Related Companies: | Counterpoint Engineering, EQ Building Performance Inc., o2 Planning and Design, Unilux HVAC Industries Inc. |
