Prime Residential High-Rise Site For Sale in Midtown Toronto

Location: 346-378 Eglinton Ave. W. Toronto, ON
Subject is located at Eglinton Ave. W and Avenue Rd.

Property Details:

A rare opportunity to acquire a prime high-rise site in Midtown Toronto.

Address: 346-378 Eglinton Ave. W.

Total Site Area: 24,395 sq.ft. (0.56 Acres)

Zoning: Commercial Residential

Frontage: 255 ft. along Eglinton Ave. W.

Onsite Details:
Official Plan Designated
– Mixed use (including residential)
Predominant Exposure – South
Transit – Bus, Major Transit Station

Development Potential:

The latest development concept for the property completed by Arcadis/IBI Group contemplates a 30-storey mixed use tower. These plans include an approximate 300,000 sq.ft. (based on 12 FSI) building comprised of 310 residential units plus retail at grade. This has not been approved.

The expectation would be for the site to yield 300,000 sq.ft. based on similar recent approvals.

Recent development projects substantiate the expected density for the subject. For example:

  • 2-20 Glazebrook Ave. approval based on 13.77 FSI.
  • 444-446 Eglinton Ave. W. by Arista is based on a 10.25 FSI.
  • 50, 60, 90 Eglinton Ave. W. & 17-19 Henning Ave. approval based on a 18.55 FSI.
  • 21-35 Henning Ave. approval based on a 15.13 FSI.

Therefore, the 12 FSI contemplated for the subject is a reasonable expectation.

Current Use: Retail, rent roll available

Offering Process: Offer submission deadline is November 14, 2024 at noon.

Data Room: Available upon CA and RECO Information Guide being signed.