When it opens in 2022, the Line 5 Crosstown LRT will bring a new rapid transit interchange to the Yonge and Eglinton area, and it's helping to fuel a seemingly unending wave of high-rise development to Midtown Toronto area. The importance of this new transit infrastructure is evident in the branding of Line 5 Condos, a new residential complex from Reserve Properties and Westdale Properties that celebrated its official start of construction this week. With drilling rigs already active on the recently-cleared Broadway Avenue site, representatives of the project team were on hand for a small ceremony to signify the start of work for project investors.
“The impact of the new LRT will be transformational for Yonge and Eglinton. With rapid transit soon to be available in every direction, we see this area emerging as the new centre of Toronto” reads a statement by Shane Fenton, Chief Operating Officer, Reserve Properties. “As developers it’s our job to respond to the moment, delivering a project that not only contributes to the changes taking place, but fosters the incredible potential of this neighbourhood.”
The IBI Group-designed complex of 33 and 36-storey condominium towers will bring over 900 new homes to the rapidly-developing area, with a news release describing the complex's design incorporating "oscillating patterns, layers, and textures," and will be "clad with high-contrast metal, mesh, and natural materials."
Work on the project site has been progressing since October, when demolition began to clear away the previous rental buildings to clear way for the now started shoring phase. Next, the site will be excavated before a crane is installed to begin forming the underground levels of the complex.
“Westdale Properties is a long-time believer in Yonge and Eglinton. We were one of the first to invest in the neighbourhood when we began our 88 On Broadway project in 2005,” states Mitchell Cohen, Chief Operating Officer, Westdale Properties. “Line 5’s groundbreaking is yet another key milestone in our history in this area. Communities are defined by the people who inhabit them and Yonge and Eglinton is bursting with energy. We wanted to harness that energy and generate something truly innovative that spoke directly to the changes taking place.”
Just across Broadway from the Line 5 site, Reserve and Westdale are preparing to bring another multi-tower residential complex to the area, as sales progress for their upcoming Untitled Toronto development.
You can learn more from our Database file for the project, linked below. If you'd like to, you can join in on the conversation in the associated Project Forum thread, or leave a comment in the space provided on this page.
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|Related Companies:||Baker Real Estate Inc., Ferris + Associates Inc., IBI Group, Live Patrol Inc., Reserve Properties, U31, WND Associates Ltd|