28 RIVER STREET & 550 QUEEN STREET EAST, TORONTO

PROPERTY

SUMMARY

about the approved

DEVELOPMENT

• The offering provides a significant opportunity for a high density, mixed use development of a prominent corner site with 336,910 sq. ft. (31,300 sq. m.) of total GFA. Of the total GFA, a maximum of 306,771 sq. ft. (28,500 sq. m.) of residential uses is permitted and a maximum GFA of 32,291 sq. ft. (3,000 sq. m.) of non-residential uses is permitted.
• Please note that of the total GFA, the required minimum GFA for office uses is 12,069 sq. ft. (1,400 sq. m.). The total number of residential units currently being proposed is 380, of which 22 (6%) are studio, 229 (60%) are one-bedroom, 92 (24%) are two-bedroom and 37 (10%) are three-bedroom, allowing for an ideal mix of units to be delivered to the market. The ground floor of the building facing Queen Street will consist of the lower level of 9 livework units extending west from River Street, with office space located at the westerly end of the Queen Street frontage.
• As per the ZBLA, of the total number of dwelling units provided, a minimum of 15% of the total number of units must have two or more bedrooms and a minimum of 10% of the total number of units must have three or more bedrooms. An additional 15% of the total number of units must have two or three bedrooms or much be units that can be converted into two or three bedroom units. This could be achieved through various adaptable design measures including knock-out panels.

FOR MORE INFORMATION

The Toronto East neighbourhood of downtown Toronto has witnessed significant growth and development fueled by current and future transit infrastructure, employment growth and several large-scale revitalization projects including Regent Park, East Harbour, West Don Lands and The Port Lands.

Within a 2km radius surrounding the Property, there have been 11 new condominium launches since August 2021.

• COVETED AND IN DEMAND NODE OF TORONTO – GATEWAY BETWEEN DOWNTOWN AND RIVERDALE

NEIGHBOURHOOD OVERVIEW

• The site’s surrounding area boasts a wide range of trendy cafés, restaurants, art galleries, bars and retail stores, including Gusto 501, Terroni, Dark Horse Coffee Shop, and Impact Kitchen, among others. Situated along Queen Street East, with prominent frontage, the Site benefits from direct access to the Queen 501 Streetcar providing connections across the City to a number of landmarks and institutions, including the Eaton Centre, Toronto Metropolitan University, and Woodbine Beach to the east.
• The property is within walking distance to a number of parks and recreational opportunities, including Riverdale Park, the Pam McConnell Aquatic Centre and Corktown Commons, which connects to the Lower Don River Trail. This bustling street provides visitors with a captivating experience due to its lively ambience, offering a truly engaging urban experience.

UNMATCHED TRANSIT CONNECTIVITY

• With an almost a near perfect walk, transit and bike score, the property benefits from its excellent transit connectivity through the Queen 501 Streetcar, one of the longest streetcar lines in North America, as it connects Roncesvalles Avenue in Parkdale with Neville Park in the Beaches.

In addition, the property will benefit significantly from the new Ontario Subway Line which connects Liberty Village with the Ontario Science Centre at Eglinton and Don Mills.

• There will be two new stations within walking distance of the Site along the line at Moss Park and Corktown. The Ontario Line is currently under construction and is anticipated to be operational in 2031. Lastly, the Site is only a 2-minute drive from the DVP which provides direct connections across the GTA for residents and workers alike.