The Canadian housing market may be in something of a slump, but one of the country’s most recognizable retailers is banking on the strength of Toronto’s condo segment.
On Tuesday, Official Plan and Zoning By-law Amendment applications were submitted to the City on behalf ofproposing the redevelopment of a Canadian-Tire-owned site at 2681 Danforth Avenue. The developments would be 44- and 33-storeys in height with a three-storey base element to be dedicated to Canadian Tires retail operations.
Although the site currently contains an existing Canadian Tire building, the proposed stands to better utilize the centrally-located spot, enhancing the public realm and condo offerings along Danforth Avenue. If approved, the two towers would add 905 new condo units to Danforth Avenue, including 565 one-bedrooms, 249 two-bedrooms, and 91 three-bedrooms. In addition to 68,788 sq. m of residential gross floor area , the proposed developments would contain 11,066 sq. m of non-residential GFA for a total GFA of 79,854 sq. m.The development would be served by 1,810 sq. m of indoor amenity space and 1,810 sq. m of outdoor amenity space. Four green roofs would be located on the fourth and ninth floors.