Earlier this year we agreed with our neighbour at 536 St. Clair Ave. W., to jointly retain Michael Goldberg, of the Goldberg Group, to provide us with an updated planning report for our combined site. We also jointly retained Mansoor Kazerouni of IBI Architects, to create preliminary plans for a 30 storey tower on the combined site based on Goldberg's planning opinion. The preliminary plans provide for 227,304 square feet of Gross Floor Area and a tower floorplate of 727 square meters. Our research suggests the ideal minimum floor plate for maximum efficiency in a residential tower is at 730 square meters which makes this site ideal for an efficient return on investment for a condo developer. We plan to continue the process to prepare and submit a rezoning application jointly with our neighbour and establish a firm profit sharing agreement on an eventual sale to a developer.
Below is a link to Goldberg's report:
And here is a link to the IBI preliminary plans:
It is interesting to note that when we first purchased this property in 2019, our planning consultant at Bousfields advised us that the site could reasonably accommodate a 17 storey development. The planning and development landscape has changed so much in these past two years that we now have a reasonable argument for 30 storeys and expectations to end up somewhere in the 25 to 30 storey range.
Please find a link to our original planning report from Bousfields below:
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