510 Yonge Street Condos
510 Yonge Street Condos is a new condo development by Kingsett Capital currently in preconstruction at 510 Yonge Street, Toronto. 510 Yonge Street Condos has a total of 481 units.
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(416) 599-9599 x150 (Office)
Description
An Official Plan Amendment and Zoning By-law Amendment application for a new 59-storey building (196.9 metres including the mechanical penthouse) containing 500 dwelling units (including 19 rental replacement units), 519.5 square metres of retail, and a 464.5 square metre community hub space. An off-site parkland dedication of approximately 415 square metres is proposed on the lands municipally known as 431 Yonge Street.
Although detailed plans are not yet available, the proposal already stands out for its red-toned cladding, metal balcony railings, and a floor-plate which is rotated in relation to the street-grid.
The site sits in an area currently zoned for a maximum density of 3.0 floor space ratio. At 59 storeys and with 41,862.60 m² gross floor area (GFA), the proposal has a floor space index of 23.7, far exceeding the limit. This is fairly typical for development proposals in the area, all requesting amendments to the zoning for far in excess of what the existing by-laws allow. Such proposals generally align with the City and Province’s most recent policy statements which emphasize the need for densification and growth in areas that are well-served by transit, and therefore the proposals are typically approved, not necessarily at the height or density initially requested. A determining factor for final tall building heights is that they add new shadows to parks, and in fact the rotation of this building to the street grid is meant to minimize its shadow on a new park to the northwest across Breadalbane Street.
The development, which sits within a short walking distance between two subway stations, therefore proposes to bring another 500 condominium units to the neighbourhood in a mix of 280 one-bedrooms, 170 two-bedrooms, and 50 three or more bedrooms. It also proposes 519.5 m² of retail space as well as a 464.5 m² for a “community hub.”
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Maziar Moini Broker
Home Leader Realty Inc.
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Maziar Moini, Broker of Record - Home Leader Realty Inc.
300 Richmond St. W., #300, Toronto, ON M5V-1X2
416-599-9599 ext:150 Cell : (647) 699-5900 Fax: 1-800-970-7654
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