Entire new neighbourhood set to completely replace Toronto shopping complex
Details are emerging of a long-term redevelopment that would completely transform a tract of land in Toronto's Stockyards District area into a brand new neighbourhood of gargantuan proportions.
A company known as Toronto Stockyards Land Development Board is pushing forward plans to redevelop their approximately 13-hectare site extending from the southwest corner of St. Clair Avenue West and Keele Street.
The block is home to several businesses, including a Canadian Tire, The Home Depot, McDonald's, Tim Hortons, a Swiss Chalet, and a handful of others.
But the majority of the site is occupied by parking, a rare sight placed right next to a busy streetcar route running in a protected right of way.
Details of the ambitious project, including a rendering, were revealed through a LinkedIn post shared on Wednesday.
N. Barry Lyon Consultants posted a "Congratulations to the Toronto Stockyards Land Development Board and our amazing consultant team for the City's adoption of a new policy vision for the #Stockyards! The dynamic mixed use community will feature over 4.6 million sf of redevelopment once complete."
No development application has been submitted to city planners as of late July, but a lone rendering and the bits and pieces of available details offer a glimpse into the new neighbourhood in the works to replace this big box shopping plaza.
Over 20 buildings of varying heights would be built around a new road network, parks, and other public spaces animating space currently dominated by warehouse-style structures and vast expanses of parking.
Don't expect big changes any time soon, as projects like these take some time to materialize.
A source close to the project tells blogTO that "there are long-term existing leases, so this isn't happening tomorrow," adding that existing businesses can expect a "5 to 10 year timeline at least."
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