42 Park Lawn Road for Sale
By Lucas on Sep 19, 2013
Back in 2011, Petro J. Developments proposed a 41-storey, mixed-use project for 42 Park Lawn Road in Etobicoke. Petro worked with Northgrave Architect to come up with the design, which featured 345 residential units and commercial space.
The future of 42 Park Lawn Road
Well, it looks like 42 Park Lawn Road is up for sale! Petro J. Developments has retained CBRE to sell the high profile piece of land.
According to the listing, Petro submitted an application for a rezoning in March 2013 to have it designated as a mixed-use site.
The proposal is exactly what Petro outlined two years ago: 41 storeys, a separate two-storey commercial building, and 345 residential units. According to urbandb.com, the proposal calls for 196 one-bedrooms, 149 two-bedrooms, and four levels of underground parking.
The big question is, who will purchase 42 Park Lawn Road? There are many big hitters already developing in the area. To the south of 42 Park Lawn Road, Times Group is building Key West Condos, Onni has two projects in the works, and Empire Communities has Beyond the Sea. To the north, there’s Amexon’s South Beach, which was completed in 2012, and Camrost-Felcorp’s Tides, iLofts, and California developments.
So, will one of these developers leap at this opportunity to further enhance the neighbourhood, or will we see a new developer enter the area?
About the neighbourhood
42 Park Lawn Road is an empty site amidst a forest of future condos. Why are there so many condos planned for the area? Because it’s close to Lake Ontario, on the edge of downtown Toronto, and there are already a bunch of great amenities, like parks, schools, and shopping options in the neighbourhood.
Whichever developer picks up 42 Park Lawn Road will be able to promote an urban lifestyle and lakeside living all in one. Which developer do you want to see take control of the site?
Photos from CBRE listing
