New plan calls for 47 storeys at Yonge–St. Clair
Deer Park residents and the local councillor are angry with a developer who continues to push for new heights at Yonge Street and St. Clair Avenue.
Developer Terracap Management Inc. has added five storeys to the development proposal currently in front of the Ontario Municipal Board (OMB). The initial plan, denied by Toronto City Council in November 2015, called for 42 storeys at 1421 Yonge St. on the southeast corner of the intersection.
Councillor Josh Matlow said that he and representatives of the Deer Park Residents’ Group were initially optimistic when they met with the Terracap officials in July. However, when the developer unveiled the amended plans for a 47-storey building, Coun. Matlow said the group felt like it was a “slap in the face.”
“I don't recall ever seeing a developer come forward with a proposal for one height and then, after listening to the community’s [concerns], coming back with something bigger,” he said.
The area’s official plan calls for mid-rise buildings, no more than 11 storeys, on the section of Yonge Street from St. Clair Avenue to Pleasant Boulevard.
“The community and I are not opposed to a redevelopment of the site. We want to see Yonge and St. Clair renewed and revitalized,” said Coun. Matlow. “But this specific proposal is clearly excessive and completely out of whack with the city’s official plan.”
In addition to the extra five levels of office space, the mixed-use project includes 420 residential units, two levels of retail and 136 parking spaces.
“We researched all different sectors of business: residential, retail and, of course now, office,” said Shawn Fujiki, vice-president of real estate at Terracap. “We have determined there is a demand from our office in the general node, so we thought that would be a great idea to incorporate that into our development.”
The OMB will review Terracap’s proposal and make its final decision in a hearing scheduled for June 2, 2017.