The Canada Lands Company, a crown corporation, has retained TD Cornerstone Commercial Realty Inc. to facilitate the sale of its property at 200 Queens Quay West in downtown Toronto.
200 Queens Quay West is a 1.24 acre site located at the junction of the South Core and Harbourfront neighbourhoods. It currently comprises an eight-level above-grade parking garage surrounded by a mix of high-rise residential condominiums, new office developments, parks and entertainment facilities. As intensification moves south of Union Station bring with it prime office space and new high-rise residential, developable land is becoming a rare commodity, leaving 200 Queens Quay West among the last major infill opportunities in the booming South Core neighbourhood.
The 25-year Downtown Plan—TOcore—formally expands the Financial District's boundaries to include 200 Queens Quay West and is open to an array of possibilities for the site. Some of the tallest towers and most dense developments are already located within striking distance, and with provincial policy supporting intensification along transit nodes, the site presents a future developer with tremendous opportunity to design and integrate a project to benefit the community.
The marketing materials put forward by TD Cornerstone Commercial Realty Inc. in collaboration with Bousfields Inc. and Urbanation, feature an artistic illustration of the development potential, which is predicted to support a two-tower project consisting of a 55- and 45-storey tower above a 10-storey mixed-use podium.
It is anticipated the site will be repurposed with a future residential development as none are currently planned within a 600 metre radius, with hopes of alleviating some of pent up housing demand for the downtown core. Residential development would also aid to accommodate future employees in the 10+ million of Class A office space planned within walking distance of the property in the next several years.
200 Queens Quay West fronts numerous pedestrian, bicycle and transit connections, with quick and easy access to TTC, GO and ViaRail services at Union Station. The Gardiner Expressway, the PATH, Billy Bishop Toronto City Airport, and the Jack Layton Ferry Terminal are closely situated. The property also fronts a newly reimagined Harbour Street, which has received public realm upgrades following the removal of the York-Bay-Yonge off ramp. A new park designed by Claude Cormier + Associés will provide a gathering place for the neighbourhood at Harbour and York streets.
TD Cornerstone Commercial Realty Inc. is currently in the market with the offering and invites investors to see the marketing flyer for further information, or contact firstname.lastname@example.org or email@example.com.
UrbanToronto collaborated closely with TD Cornerstone Commercial Realty Inc. on this feature for the purpose of sharing details on commercial and industrial properties for sale or alternative use. For more information, contact us here.