A Torontonian Now
Senior Member
Since Riocan also intends to redevelop the office building at 2323 Yonge, I would propose looking at that site and this one together as a single redevelopment, and rearranging it so that all the replacement office is in one location.
Of course this is a pipe dream, but my proposed solution would be to do a condo (or rental apartment) conversion of 2323 Yonge Street, retaining the (should-be-heritage) facades on all sides in their entirety. I understand that the office space there might be suboptimal for today's tenants, but I am sure it would be a popular residential conversion. All the office replacement (for 2345 and 2323) would be contained in the podium of 2345 Yonge, with additional density and height provided for the residential towers on 2345 to compensate for that lost from what would have been gained from the 2323 redevelopment.
The City should be on board with this solution as a method of retaining the building at 2323, while maintaining a critical mass of marketable office space at this node.
Riocan should be on board given their large holdings at this intersection and that it would lead to better outcomes for the area as a whole, as well as economies of scale in a more ambitious redevelopment of a single site, rather than wholesale redevelopment of two sites, both with mixed-use programs.
Of course this is a pipe dream, but my proposed solution would be to do a condo (or rental apartment) conversion of 2323 Yonge Street, retaining the (should-be-heritage) facades on all sides in their entirety. I understand that the office space there might be suboptimal for today's tenants, but I am sure it would be a popular residential conversion. All the office replacement (for 2345 and 2323) would be contained in the podium of 2345 Yonge, with additional density and height provided for the residential towers on 2345 to compensate for that lost from what would have been gained from the 2323 redevelopment.
The City should be on board with this solution as a method of retaining the building at 2323, while maintaining a critical mass of marketable office space at this node.
Riocan should be on board given their large holdings at this intersection and that it would lead to better outcomes for the area as a whole, as well as economies of scale in a more ambitious redevelopment of a single site, rather than wholesale redevelopment of two sites, both with mixed-use programs.