uptownto
New Member
I found a great write-up on the history of this site on the TTC's website. http://www3.ttc.ca/About_the_TTC/Co...04/Jul_14_2004/Other/Yonge_Sheppard_Land_.jsp
The main problems with attracting a larger development on this site has to do with the strict commercial zoning (not even mixed use) in this market environment, and building restrictions due to the subway infrastructure and bus bay.
As someone who lives in this area, I don't have a problem with their decision to wait for better market conditions to get an office tower here and don't mind that there is retail coming in until such a time. Better than the empty wind swept lot that was there until recently. I'm just hoping the tenant is going to be a real retail or clothing store, but more likely will be something like a bank branch or drug store or wireless store or something.
The main problems with attracting a larger development on this site has to do with the strict commercial zoning (not even mixed use) in this market environment, and building restrictions due to the subway infrastructure and bus bay.
In September, 2001, when construction on the Sheppard Subway was nearing completion, a Request for Expression of Interest (REOI) was put out on the market for the Yonge-Sheppard lands (Parts 2, 3 and 4) and the air rights over the Sheppard bus terminal (Part 1). As part of the REOI, it was proposed that the bus terminal be reconfigured to free up additional land for development. Only one, non-compliant response to the REOI was received. The lack of interest was attributed to commercial office market conditions, the constraints on development imposed by zoning and the presence of the subway structure (including the bus terminal, electrical substation and subway ventilation shafts).
As someone who lives in this area, I don't have a problem with their decision to wait for better market conditions to get an office tower here and don't mind that there is retail coming in until such a time. Better than the empty wind swept lot that was there until recently. I'm just hoping the tenant is going to be a real retail or clothing store, but more likely will be something like a bank branch or drug store or wireless store or something.