A striking highrise has been proposed for a major downtown Toronto intersection.
In late July, a Zoning By-law Amendment application was submitted to Toronto city planners to build a 74-storey mixed-use tower at 372 Yonge Street. Spanning 386,112 square feet of gross floor area, the development on the southwest corner of Yonge and Gerrard streets would house 406 residential suites, amenity areas, new retail and office space, while retaining retail space within restored heritage buildings.
The development site in question measures 10,344 square feet, with three street frontages set onto Yonge, Gerrard and Walton streets. Fronting Yonge Street, the development’s podium would feature the restored 378 Yonge Street heritage building, formerly 1929 Dominion Bank, designed by John M. Lyle. The project would also incorporate the principal facades at 374, 374A and 376 Yonge street. All of the properties are included as part of the City of Toronto Inventory of Heritage Properties under Part IV of the Ontario Heritage Act.
Approximately 7,545 square feet of retail space currently exists within the heritage buildings. The existing space would be fused with an additional 7,042 square feet of new retail area.
Designed by the Toronto-based architectural firm, DIALOG, the building’s form is described as “rising through an organic transition as a simple elegant structure that above reflects the fluting of a classical column,” in the planning rationale.
Above 378 Yonge Street, the building slopes outwards and up, transitioning to a two-storey reveal on the tenth floor. Another two-storey reveal on the 43rd level breaks the tower into three parts, the rationale says. Both reveals, set back from the building’s exterior, would provide amenity space. No exterior balconies for individual units are included in the tower. At the top of the tower, the building slopes upward into one corner in spire-like fashion.
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Throughout the fourth and seventh floors, a total of 25,155 square feet would be reserved as office space accompanied by a dedicated lobby entrance off Walton Street. Amenity spaces, both indoor and outdoor, are proposed for the 10th, 11th, 43rd, 44th and 74th levels, encompassing 18,976 square feet.
Of the 406 residential units, 232 would be one-bedroom suites, along with 116 two-bedrooms, and 58 three-bedrooms. The residences would range from 462 to 1,076 square feet in size.
While no parking spaces would be included, the development proposes the addition of 430 below-grade spots for bicycles, accessible from Walton Street.