Another significant redevelopment space has been claimed on Toronto’s eastern waterfront downtown with the recent announcement that Greenland Group (Canada) plans to build seven towers containing 2,000 residential units just a block away from the Sidewalk Labs site.
Lakeside Residences will be the second Toronto project for Greenland, a publicly traded Chinese developer. The project for a 3.85-acre site at 215 Lake Shore Blvd. E. was announced Oct. 25 with a concurrent launch of sales. The first shovel in the ground is expected next spring and the first two condo towers, to be 39 and 49 storeys, are targeted for completion by 2021.
Amanda Ireland, COO of the Milborne Group in charge of sales, says walkability is a key asset for the address, with downtown Toronto easily accessible by foot.
“The number one thing we are focusing on is the connectivity between the city and the waterfront,” said Ireland.
“Right now one in three jobs in the city are downtown jobs. And right now 77 per cent of residents reported living in highrise buildings so we find that there is a huge demand for our location. We have a bike score of 100, a transit score of 98 and walk score of 93 so we are a very accessible community to the downtown core and that working population.”
Toronto’s Hariri Pontarini Architects have created a sculptured sailing silhouette for the first two towers, which will offer condominiums ranging in size from 460 to 1,000 square feet, facing either the city or Lake Ontario, with prices from $400,000 to over $1 million.
Partway up the towers will be an exterior terrace. Amenities will include a gym, outdoor pool, sauna and steam room, games room, lounge and children’s room.
“They have a specialty in master-planned communities so they look at how the built form interacts with the environment around it, but most importantly they designed the buildings so they are beautiful on the outside but incredibly livable on the inside,” said Ireland describing Hariri Pontarini. “So they have designed from the inside out.”
Waterfront Toronto was involved in the master planning process. Cecconi Simone is the interior designer and Janet Rosenberg is the landscape designer. Ireland said Rosenberg’s exteriors will emphasize the walkability of the site and offer plazas and pathway access to nearby Cherry Beach. Sherbourne Commons park is also close by.
“This is not a tower-in-the-park kind of development,” Ireland said. “We are infusing connections both to the city to the north and waterfront to the south, so it is a very permeable site on the ground level.”
The Quayside development recently announced by Google/Alphabet’s Sidewalk Labs will be a major asset for the neighbourhood, said Ireland.
“They are really looking at forward-thinking design and new digital technology, to be a people-centred neighbourhood achieving high levels of sustainability, affordability, mobility and economic development, and we are excited to be one of their closest neighbours,” she said.
A 30,000-square-foot commercial component will be populated by businesses beyond the usual retail, said Ireland. Tenants will be announced closer to the completion date.
“We are looking for something that is a little more inspired by its location and services the local area and creates a destination,” she said.
Lakeside Residences is Greenland’s second project in Toronto and the first it has initiated from the start. It previously took over development of the King Blue project midway through the process, a mixed-use development on Toronto’s Westinghouse site that includes 44- and 48-storey residential highrise towers and a 122-room boutique hotel.