Just over a year after the subway arrived at Vaughan Metropolitan Centre (VMC), the area surrounding the TTC's northernmost rapid transit station is surging with vertical growth. While several projects are contributing to the rapid growth of Vaughan's new Downtown, it's the Transit City community from CentreCourt and SmartREIT that's making the biggest splash. The project's first three 55-storey condominium towers are already rising north of VMC Station, and now three more towers are in the works just to the east.
Two of the three new towers are going to be condos in another SmartREIT/CentreCourt joint venture, while SmartREIT and Penguin will develop the third tower as a purpose-built rental apartment building. The towers are planned at heights of 50, 45, and 35 storeys. All are designed by Diamond Schmitt Architects.
On the east side of the site, the taller 50-storey Tower 4 is proposed to rise 174.32 metres high and contain 566 condominium units. On the north side, the 45-storey Tower 5 rises 148.1 metres, with another 565 condominium units. The 35-storey west building rises 118.52 metres, with 429 rental units. Together, the three towers represent 1,600 more units in addition the approximately 1,700 homes under construction in the first phase, all located within walking distance of the subway station, shopping, offices, and the new civic facilities coming to VMC.
"We have been overwhelmed by the positive response to Transit City Condos and anticipate that the market will continue to recognize the many positive traits of the 100-acre downtown core we are developing," reads a statement from Mitchell Goldhar, Executive Chairman of the Board of SmartCentres. "Adjacency to mass transit, open green spaces including our 9-acre central park, and the community amenities make SmartCentres Place a very attractive place to live. This rental building represents an exciting new initiative into the rental residential sector for SmartCentres. We anticipate more to follow."
Marketing is expected to kick off for the 4th and 5th Transit City condo towers this Spring. Based on the rapid sales of the first three towers and continued demand in the VMC area, construction of the next three towers is targeted to begin later this year. Late 2019 will also see the first phase's three towers top out at 55 storeys each.
Additional information and images can be found in our database file for the project, linked below. Want to get involved in the discussion? Check out the associated Forum thread, or leave a comment in the field provided at the bottom of this page.
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|Related Companies:||CentreCourt, Claude Cormier + Associés, Diamond Schmitt Architects, figure3 Interior Design, L.A. Inc., McIntosh Perry, SmartCentres|