Adrian Mazzocco

LISTED AT $24,499,000

An exceptionally rare opportunity to acquire a premier development site in the heart of Midtown Toronto between Humewood and Cedarvale neighborhoods -one of the city’s strongest and most resilient rental markets. The listing price includes Site Plan Approval (SPA) for the proposed 200-unit, 11-story rental development. PAC meetings’ feedback and prepared Application Package suggest a short approval period. All seller’s obligations related to SPA delivery will be detailed in the Agreement of Purchase and Sale. Offers may be made conditional on these final approvals, giving developers valuable certainty as the project moves toward completion of the planning process. Two independent appraisals have valued the land at about $25 million without approvals, reflecting its true highest and best use as a large-scale rental development. The proposed building aligns perfectly with CMHC’s MLI Select program. The completed asset is expected to exceed $100 million in value with projected annual rental income of more than $5,500,000.Situated in a prime Midtown location surrounded by established high-demand rental buildings, the site benefits from strong municipal support for rental intensification as Toronto prioritizes new rental supply. The previously approved townhouse plan is no longer the highest and best use of the land, which is now optimized for a transformative multi-residential project. With near-zero vacancy in the area and robust demand for high-quality rental housing, this is a rare chance for forward-thinking developers to deliver a flagship rental asset in one of Toronto’s most coveted neighbourhoods.

MONTREAL PROPERTY SPOTLIGHT 😱

LA CASERNE | Once a neighborhood fire station, this beautifully restored heritage landmark now features 14 unique residences that blend timeless charm with modern living. Behind its elegant brick façade and grand arched windows, discover lofts with mezzanines, single-level condos, and bright studios offering high ceilings, natural light, and contemporary finishes. Residents enjoy indoor and outdoor parking and a spacious rooftop terrace.

° 12131 Av. Bois-de-Boulogne, Ahuntsic-Cartierville
Ma Roottop terrace
6 Indoor & outdoor parking available

LA CASERNE | Ancienne caserne de quartier, ce bâtiment patrimonial magnifiquement restauré propose aujourd’hui 14 résidences uniques alliant charme intemporel et confort moderne. Derrière sa façade de brique élégante et ses grandes fenêtres arquées se dévoilent des lofts avec mezzanine, des condos sur un seul niveau et des studios lumineux offrant hauts plafonds, belle luminosité et finitions contemporaines.
Les résidents profitent d’un stationnement intérieur et extérieur ainsi que d’une spacieuse terrasse sur le toit.
° 12131 Av. Bois-de-Boulogne, Ahuntsic-Cartierville
la Terrasse sur le toit a Stationnement intérieur et extérieur disponible

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