Development Opportunity at 415 Mt. Pleasant Road in Toronto
By Lucas on Nov 05, 2013
Recently, PostCity.com posted an article about a prime piece of land in Toronto that could be the next target for a residential developer.
415 Mt. Pleasant Road is currently a big parking lot attached to a Kentucky Fried Chicken (KFC). The site has reportedly been designated as multi-use, meaning that a condo is a possibility.
“I have not seen any proposals yet for this area, but I can tell you this: I think we can do better than having a KFC there,” said Councillor Josh Matlow. In regards to what should be there, Matlow said, “I’d prefer to see something that does not have a large impact on the street view or the neighbourhood.”
According to Matlow, traffic and parking are already issues in the area, so when it comes to intensification, there needs to be a strong focus on height and density.
The site is only 6,000 square feet, so even if a developer made a move for the site, they wouldn’t have much space to build. We could definitely see a boutique condo in the neighbourhood. There is a seven-storey retirement building directly across the street and a 15-storey residential building down the road. The existing mid-rises in the area feature modern brick designs, so it might be nice to add some contemporary flair to the streetscape.
Most of the residential development in this area of Toronto is concentrated along Yonge Street. Yonge & Belsize by The Biddington Group and Life Condos by Chestnut Hill Developments are in the preconstruction phase, and Allure Condos by Greenpark and Merton Yonge Condos by Cresford are under construction. The only new development along Mt. Pleasant Road in this area is The Merton by Tibro Development, which is a 12-unit townhome project a few steps to the south of 415 Mt. Pleasant.
“I would guess it’s going to be a residential developer who buys up that property. It looks like a natural progression in that neighbourhood,” said David House of Earth Development.
What do you think will happen at the small site? Can you picture a unique, contemporary, boutique condo with a few spacious units?
We’ll be keeping our eye on the site to see if any proposals are submitted.
