Huge rental complex to replace Toronto parking lot

A surface parking lot in Toronto's Cabbagetown neighbourhood could soon make way for a towering new residential development aimed at boosting the city's dwindling rental housing inventory.

Toronto Community Housing aims to move forward with a rental tower on the current site of a Toronto Parking Authority-run surface parking lot at 405 Sherbourne St., just north of Carlton St.

Plans for the site were first tabled in 2021, when the site was targeted for a 26-storey residential tower housing 267 units in a mix of market and affordable rentals, with zoning for the project approved at City Council that same year.

After a few years on the back burner, a revised proposal for the site was tabled this past November, significantly increasing the density contemplated for the site with a vision for a tower consisting of conjoined volumes rising to heights of 26 and 35 storeys.

Designed by Alison Brooks Architects and architects—Alliance, the tower is planned to reach a maximum height of just over 120 metres.

Such height may seem like a big ask on a stretch currently populated primarily by low- and mid-rise buildings, the area in question is already targeted for significant intensification in the coming years. Several high-rises planned in the area are proposed to rise much taller than the 405 Sherbourne plan, including nearby towers planned to rise as high as 48 storeys.

The modified proposal calls for 301 units in a mix of both market-rate and affordable rental, increasing from the 267 units proposed for the same site four years earlier. The unit breakdown has also changed significantly, introducing 34 additional affordable rental units, eliminating studio layouts, and increasing the number of both two- and three-bedroom suites capable of accommodating families.

Other changes to the proposal include a significant reduction in parking spaces, dropping from 59 spots in the 2021 proposal to the current 13. Bicycle parking has helped to fill this gap, with 331 spaces versus the 267 proposed in 2021.

The project was issued a Notice of Complete Application on Nov. 26, setting the stage for a potential speedy construction start.