501 Yonge is Moving Forward
By Lucas on Mar 26, 2013
One of the most popular development sites that we have featured in the past year is 501 Yonge, owned by Lanterra Developments. We’ve only made a few posts about the project, but months later, they are still some of the most visited on our blog. There is no doubt about it, Toronto is extremely interested in this project.
This week, the project went to the design panel, who critiques the form and design of the building, then makes suggestions on how it should be changed to better fit in with the neighbourhood. The panel has released their feedback on 501 Yonge, and it looks like Lanterra is getting ready to move forward.
The Design of 501 Yonge St.
Lanterra and architectsAlliance received positive feedback for the design, and we’re very happy to have a new rendering to see. We had only seen the working drawings of the proposal, which didn’t exactly give us an idea of the impact that the project would make, but this new image gets us pretty excited! By no means is this the finalized design, but we're getting somewhere.
Changes to 501 Yonge St..
For those unaware, Lanterra has been working with the City for some time to bring this new tower to the area. The plans have changed somewhat, Lanterra is now seeking approval to build two towers, reaching 52 and 23 storeys, versus the twin 58-storey towers they initially had in mind. Lanterra is also working on incorporating both ground floor residential and above ground parking, which are things we don’t see everyday. It’ll be a challenge, but if anyone can do it, Lanterra and architectsAlliance can.
The Corner of Yonge St. and Alexander St.
There is definitely a need for a change in this pocket of the city. Currently, there is a bunch of low-rise commercial buildings scattered about the area. Given the site’s proximity to major transit lines, Yonge and Alexander is probably one of the city’s highest profile addresses. We’re very excited for it to continue moving forward.
Stay tuned to the Toronto Star's NewInHomes.com, we plan on updating you as we acquire more information.
