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Resubmitted plans for a market-rate rental building at 494 Richmond Street East in Toronto's Corktown neighbourhood propose increases in height and density. Designed by Sweeny &Co Architects Inc. for Colonia Treuhand Holdings operating as 2073628 Ontario Limited, the resubmission calls for towers reaching 12 and 45 storeys.
Comprising an assembly of parcels (494 to 526 Richmond Street East and 156 and 162 Parliament Street), the site spans 3,532m². It currently encompasses a surface parking lot, two-storey office buildings, and a private Montessori school. Its positioning in Toronto's historic Old Town area — with the application noting the area has one of the largest concentrations of 19th-century buildings in the country — surrounds it with a mix of heritage sites as well as residential, office, and retail uses.
In June 2023, the developer submitted initial Zoning By-law Amendment and Site Plan Approval applications. City staff highlighted several areas for refinement, including setbacks and adjacent heritage considerations. The developer has noted the increased height and density are in line with surrounding proposals and allow for additional much-needed rental housing supply.
The resubmitted Zoning By-law Amendment has the high-rise tower now reaching 45 storeys (152m), up from the previously proposed 35 storeys (119m). Conversely, the other tower has been revised downwards from 16 (63m) to 12 storeys (53m), while allowing for increased separation, particularly to the north. The total number of residential units has increased from 588 to 710. The Gross Floor Area (GFA) has been expanded from 35,250m² to 43,163m², with 386m² allocated to retail, and the Floor Space Index (FSI) has risen from 10.1 to 12.45 across the assembly.
The developer has reduced the proposed podium height along Richmond Street East from eight to four storeys, paired with step-backs above the fourth storey. The base building would feature increased setbacks, as well as materiality intended to respond to the adjacent heritage building at 339 Queen Street East.
The underground garage has been expanded from two to three levels, providing 206 spaces for residents and 19 for visitors or non-residential uses, up from a total of 152 spaces. Bicycle parking has also seen a slight increase to 640 long-term and 72 short-term residential spaces, as well as eight for retail.
The design entails 1,828m² of indoor and 1,051m² of outdoor amenities, positioned on levels 1, 2, and 16. Outdoors, the developer aims to enhance the public realm with a 333m² POPS (Privately-Owned Publicly-accessible Space) at the corner of Berkeley and Richmond Street East. The architectural plan incorporates five elevators in the taller tower and two in the other, for approximately one elevator for every 101 units.
Currently, the site benefits from streetcar routes along Queen and King Streets which connect to Lines 1 and 2. The upcoming Ontario Line 3 will include Corktown and Moss Park stations, located 300m and 350m from the site respectively. The site's proximity to these stations and its location within thier Protected Major Transit Station Areas is cited in increased density request. The area is also close to cycle tracks along Richmond, Adelaide, Shuter, and Sherbourne streets.
Other projects and proposals are nearby. To the west, a 25-storey tower is proposed at 245 Queen Street East while the 24- and 33-storey towers of ROQ City are under construction. North of the site, construction is underway at the 11-storey Parliament & Co, while upcoming developments at 301 and 351 Queen Street East are proposed to rise 17 and 28 storeys respectively.
To the south, closer to the future Corktown station, proposals include 550 Adelaide Street East at 29 storeys, Berkeley House at 36 storeys, East Richmond at 43 storeys, and 517 Richmond Street East at 45 storeys. Additionally, 49 Ontario Street is planned to feature three towers varying from 11 to 44 storeys, and 134 Parliament Street is slated for 46 storeys.
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: | Gradient Wind Engineers & Scientists, Land Art Design Landscape Architects Inc, MHBC Planning, Sweeny &Co Architects Inc. |
