EXECUTIVE
SUMMARY
CBRE’s Land Services Group is pleased to offer for sale the 1.07-acre site located at 57-93 Balliol Street (known as the “Site” or “Property”) in the City of Toronto. The offering represents a landmark development opportunity for an approved 40 storey tower with exceptional views of both Midtown and Downtown Toronto. In July 2023, the vendor received approval on the Zoning By-Law Amendment (“ZBLA”) that allows for a maximum Gross Floor Area (“GFA”) of 365,973 sq. ft. (34,000 sq. m.) to be built on the Site. Please note that as part of the redevelopment the existing 19 residential rental townhouse units will be required to be rebuilt into the podium of the new development. Please refer to pages 13-15 for more information on the development and the rental replacement requirements. Situated between Yonge-Eglinton and Yonge-St. Clair, the Site represents an unmatched high density development opportunity that is approved for a 40 storey building with 496 residential units, inclusive of the 19 rental replacement units. As part of the redevelopment, over 0.2 acres (906 sq. m.) of greenspace will be provided, with parkland dedication fulfilled on-site, as well as outdoor amenity space. It is proposed that two levels of underground parking will be provided to accommodate 103 parking spaces and 497 bicycle parking spaces. Although not yet approved, the vendor has submitted a Site Plan application, which allows a purchaser to continue with the existing proposal and finalize the development based on their own preference and design. The Midtown neighbourhood has become one of Toronto’s preeminent locations for both homeowners and renters. Drawing on demand from a large demographic profile, this neighbourhood achieves some of the strongest end unit pricing and rental rates not only within the City of Toronto, but the entire GTA. Nearby condominiums and purpose- built rental projects are currently achieving weighted average prices of $1,530 per sq. ft. and average rental rates of $4.51 per sq. ft., respectively (Altus and Urbanation, 2023). As nearby infrastructure projects near completion, it is anticipated that demand will continue to grow, making this an outstanding condominium or purpose-built rental development opportunity within one of the City’s most sought after locations. Situated a 2-minute walk from Davisville Subway Station, the Site is exceptionally well located within an established neighbourhood that is serviced by an abundance of amenities, restaurants, cafes, shops and grocery stores to accommodate the area residents. As such, the offering represents a landmark redevelopment opportunity with zoning approvals in place to allow for a high density tower in one of Toronto’s most coveted and in demand markets.
ST CLAIR STATION
FARM BOY
ST CLAIR AVE
2 MIN WALK DAVISVILLE STATION
BALLIOL ST
DAVISVILLE JUNIOR/ SPECTRUM PUBLIC SCHOOL
DAVISVILLE AVE
MILLWOOD RD
BELSIZE DR
5 // 57-93 Balliol Street
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