While the transportation plan is not complete, I can tell you (again, as I have stated just on the last page) that they are planning to bring Harbour and Lake Shore eastbound back together around the area of the Loblaws parking deck.
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Toronto Pinnacle One Yonge | 345.5m | 105s | Pinnacle | Hariri Pontarini
- Thread starter androiduk
- Start date
While the transportation plan is not complete, I can tell you (again, as I have stated just on the last page) that they are planning to bring Harbour and Lake Shore eastbound back together around the area of the Loblaws parking deck.
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greenleaf
Senior Member
Prelim report available: http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2013.TE25.64
Summary
The applicant has submitted a rezoning application to redevelop 1 and 7 Yonge Street. The site is proposed to be divided into two blocks by an eastern 27 metre wide extension of Harbour Street. On the south block, the application proposes to retain and add 10 storeys to the existing Toronto Star building and also develop an attached 70- storey hotel/residential building to the north and a 40-storey office building connected with a 6-storey podium. On the north block, four new residential towers are proposed with heights of 75, 80, 80 and 88 storeys with an 8-storey podium for residential, retail and commercial uses.
This report provides preliminary information on the submitted rezoning application and seeks directions on further processing of the application and on the community consultation process.
This site is located in the Central Waterfront Secondary Plan area. This Plan, adopted in 2003, is the subject of a number of appeals and is only in force for several specific areas. A precinct plan for the Lower Yonge area bounded by Yonge Street, Lake Shore Boulevard, Queens Quay East and Lower Jarvis Street will be required prior to any rezoning. The Lower Yonge Precinct Plan is underway and the establishment of directions and a policy framework are targeted for the end of 2013 and its implementation, through an area specific amendment to the Central Waterfront Secondary Plan, design guidelines or other tools, is targeted for the first quarter of 2014. The development of the precinct plan policies are needed to inform the review of the application. Consultation on the issues for the development of the area has begun through the precinct plan process.
City Planning staff do not support the application in its proposed form. It is not recommended to hold a community consultation meeting prior to City Council approval of the Lower Yonge Precinct Plan. Once Council approves the Lower Yonge Precinct Plan including any instruments required to implement the Precinct Plan, staff can advise Council on the timing for the processing of this application, provided all required information is submitted.
Summary
The applicant has submitted a rezoning application to redevelop 1 and 7 Yonge Street. The site is proposed to be divided into two blocks by an eastern 27 metre wide extension of Harbour Street. On the south block, the application proposes to retain and add 10 storeys to the existing Toronto Star building and also develop an attached 70- storey hotel/residential building to the north and a 40-storey office building connected with a 6-storey podium. On the north block, four new residential towers are proposed with heights of 75, 80, 80 and 88 storeys with an 8-storey podium for residential, retail and commercial uses.
This report provides preliminary information on the submitted rezoning application and seeks directions on further processing of the application and on the community consultation process.
This site is located in the Central Waterfront Secondary Plan area. This Plan, adopted in 2003, is the subject of a number of appeals and is only in force for several specific areas. A precinct plan for the Lower Yonge area bounded by Yonge Street, Lake Shore Boulevard, Queens Quay East and Lower Jarvis Street will be required prior to any rezoning. The Lower Yonge Precinct Plan is underway and the establishment of directions and a policy framework are targeted for the end of 2013 and its implementation, through an area specific amendment to the Central Waterfront Secondary Plan, design guidelines or other tools, is targeted for the first quarter of 2014. The development of the precinct plan policies are needed to inform the review of the application. Consultation on the issues for the development of the area has begun through the precinct plan process.
City Planning staff do not support the application in its proposed form. It is not recommended to hold a community consultation meeting prior to City Council approval of the Lower Yonge Precinct Plan. Once Council approves the Lower Yonge Precinct Plan including any instruments required to implement the Precinct Plan, staff can advise Council on the timing for the processing of this application, provided all required information is submitted.
Xray_Crystal_Junkie
Senior Member
City: Please wait till we're done our precinct plan before submission.
Pinnacle: Screw you!
City: Screw me? No, no my friend. Screw you!
Pinnacle: Screw you!
City: Screw me? No, no my friend. Screw you!
ProjectEnd
Superstar
Pinnacle: OMB it is then.
cc46
Active Member
OMB? really?
well this could get interesting.
Dozens or proposals die early.
I actually like this one, BUT get the street treatment and the roads right first. Then go for the density and height.
Right now I think the height is too high. The market probably does to. Maybe in 30 years a condo above 50 floors makes sense but I don't think so not for the next ten.
well this could get interesting.
Dozens or proposals die early.
I actually like this one, BUT get the street treatment and the roads right first. Then go for the density and height.
Right now I think the height is too high. The market probably does to. Maybe in 30 years a condo above 50 floors makes sense but I don't think so not for the next ten.
cc46
Active Member
Hey in 1980, as a student working at 207 Queens Quay Terminal warehouse building for a firm of architects, I was tasked to catalogue, save or scarp rolls of drawings. Many were proposals for the harbour and the lands around them. Dozens and dozens of very interesting options. None exist today....just saying, that was 33 years ago.
egotrippin
Senior Member
But there are several condos over 50 storeys under construction, right now. I don't really understand this comment.
DarkSideDenizen
Senior Member
I dont understand this viewpoint either. Please explain why the proposal is too high and why 50 floors will be more appropriate in 30 years. Where do these numbers come from?
There are already half a dozen buildings over 50 floors in the neighborhood and at least that many more already built across the city, with many more starting or proposed. Toronto is in the process of shedding its small-town mindset and has become an Alpha-City known worldwide. The market both here and abroad is clearly supporting higher densities in the city core and as such, taller buildings. Infrastructure will be improved as well. Provincial attitudes will be left behind and opportunities missed for those that can't recognize these facts.
Perhaps your view is in danger of being blocked?
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Hanlansboy
Active Member
Agreed, why do you think we don't need condos over 50 floors? Ever heard of, oh, say, One Bloor, Aura, Collage Park, the L Tower, the Four Seasons Residences, Shangi La, or the Trump Tower? Sorry to say, but your thinking is archaic, and with the limited amount of available land, developers have got to make the most of it to get the full value out of it.
urbandreamer
recession proof
I think the poster is referring to the demand for an endless supply of 50s+ condo towers when demand clearly has been curtailed. What if the market sits at around 12,000 units sold every year for the next decade?
Toronto has--contrary to the MSM brainwash--unlimited supply of land. Any site could be redeveloped at some point in time.
Toronto has--contrary to the MSM brainwash--unlimited supply of land. Any site could be redeveloped at some point in time.
fedplanner
Active Member
The lands were purchased by Pinnacle for $255 million. Real estate developers don't spend that kind of money unless they have really good reason to believe that they will be able to develop their site and earn an acceptable ROI. It's the planning department's job to offer their professional recommendations based on current plans and polices to city council. The language in the preliminary report should come as no surprise to anyone. City council can adopt or reject the planning department's recommendations, but they can be persuaded by Pinnacle, especially if a large Section 37 benefit is secured.
The Planning Department doesn't have a legal basis for asking a developer to hold off on submitting an application on this site nor can they change the rules mid stream in the approval process. Thankfully, there is an OMB to guard against such retaliatory actions. Although, I doubt that's the case here. The issue is zoning. And Toronto's zoning has been outdated for many years as it is not consistent with the city's current Official Plan. The planning department's recommendations will continue to get railroaded by the OMB until that changes. Eventually, someone over there will figure it out.
I'd say the biggest risk for 1 Yonge not getting built is the softening real estate market.
The Planning Department doesn't have a legal basis for asking a developer to hold off on submitting an application on this site nor can they change the rules mid stream in the approval process. Thankfully, there is an OMB to guard against such retaliatory actions. Although, I doubt that's the case here. The issue is zoning. And Toronto's zoning has been outdated for many years as it is not consistent with the city's current Official Plan. The planning department's recommendations will continue to get railroaded by the OMB until that changes. Eventually, someone over there will figure it out.
I'd say the biggest risk for 1 Yonge not getting built is the softening real estate market.
innsertnamehere
Superstar
it doesn't have an unlimited amount of land, at least with the greenbelt. Though the amount that is given with the greenbelt could probably support 50 million people with condos.
cc46
Active Member
Guys, there's not much to interpret or mis-understand...the comment about condos over 50 floors is my opinion. I simply don't believe there is a significant market for them. If I were a developer I'd think twice about them. And if Pinnacle thinks the property is worth $250m+ and want to put 50+ flr condos on them great, they are betting I'm wrong.
Register123
Active Member
Well considering that there have been scores of 50+ story condos sell out around the GTA over the past couple of years , I'd say you've been PROVEN wrong. My bets would be on pinnacle, and I'd be making a sure bet at that.
wmedia
Senior Member
In a city growing this fast, with a huge volume new (wealthy) immigrants, empty-nesters, as well as migrants from across the country, you could build a 150 storey condo at this location without any concern.