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Midtown Toronto is witnessing the ramifications of the Eglinton Line 5 Crosstown LRT, the housing crisis, and the growing trend towards hybrid work all at once. These changes set the stage for recent resubmissions for redevelopment proposals at 2345 and 2323 Yonge Street, part of a combined Official Plan Amendment application by RioCan REIT and Minett Capital. UrbanToronto recently covered the proposed single tower at 2323 Yonge Street, and today the spotlight turns to its neighbour. This resubmission — both proposals are designed by DIALOG — mirrors the other in architectural design, but as it is on a larger lot, calls for a pair of towers at 54 and 56 storeys.
The lot at 2345 Yonge Street — on its east side between Roehampton and Broadway avenues, and just a short walk from Eglinton station — is 3,680m² in area and presently houses a 10-storey office building that features ground-floor retail spaces. Its lobby corridor stretches along its south side, leading to a central elevator core adjacent to a residential complex to the east at 7 Broadway Avenue.
The application history for the property traces back to 2021 when initial submissions for Official Plan and Zoning By-law Amendments proposed 34 and 36 storeys. This was revised significantly in June, 2023 at 47 and 49 storeys. Concurrently, the adjacent site at 2323 Yonge Street underwent a resubmission, where its proposed development was elevated from a 34-storey mixed-use building to 58 storeys, eliminating previously planned office space.
The latest revision to Zoning By-law and Official Plan Amendment applications for 2345 Yonge call for two towers standing 54 storeys/184.9m and 56 storeys/191.1m, which are substantial increases from the previously proposed 155.6m and 161.2m heights. The total number of residential units has expanded from 1,112 to 1,370. The taller tower’s floor plate has gone from a square profile to a more rectangular shape, increasing the floor area from 755m² to 807m². The separation distance between the towers has decreased from 25m to 21m.
A ten-storey podium would connect the two towers, incorporating ground-floor retail spaces. The total Gross Floor Area (GFA) has increased from 72,900m² to 80,927m², with residential GFA accounting for 80,416m², and retail comprising 511m². This revised plan also includes reductions in retail GFA and eliminates the office space proposed in 2021. The current architectural drawings do not specify the total number of elevators.
Indoor and outdoor amenities are set to cover 2,055m² and 2,073m² respectively. The design calls for a three-level underground garage, which accommodates a total of 371 vehicular parking spaces, marginally less than the previously planned 375 spaces. These include 127 spaces for residents and 33 for visitors, as well as 198 existing parking spaces shared with 7 Broadway Avenue. Additionally, bicycle parking capacity has been increased to 1,234 long-term and 142 short-term spaces.
The changes reflect the lot being within what is now designated at the Yonge-Eglinton Major Transit Station Area (MTSA), where the Province now looks for greater densities. Situated just 180m from Eglinton station on Yonge Line 1 — and soon to see service from Eglinton Line 5 — the station is also served by multiple TTC bus routes.
Many other proposals and projects are nearby. Directly west across the street, 2350 and 2346 Yonge Street are proposed as 50 and 56-storey towers respectively. To the northwest, 34 Montgomery Avenue calls for 27 storeys, while 25- and 31-storey towers are under construction at 2444 Yonge Street. East of the site, proposals at 50 and 44 Broadway Avenue are set to rise to 11 and 39 storeys, respectively, with 75 and 65 Broadway Avenue currently being constructed as 38-storey and dual 39-storey towers. To the south and east are multiple high-rise proposals: 55 Eglinton Avenue East and 77 Roehampton Avenue each aim for 50 storeys, 141 Roehampton Avenue calls for 58 storeys, and 110 and 150 Eglinton Avenue East are planned for dual 58 and 61-storey towers. Southwest, 21-35 Henning Avenue is planned at 34 storeys, 50 and 36 Eglinton Avenue West propose heights ranging 46 and 59 storeys. Plans for 1 Eglinton Avenue East call for a 65-storey tower.
UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you'd like, 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: | Bousfields, o2 Planning and Design, RioCan REIT, RWDI Climate and Performance Engineering |
