A newly-proposed 50-storey tower could join the roster of new developments slated for Toronto’s Bay Street Corridor.
The neighbourhood, which runs from Bloor to Front streets between Yonge Street and University Avenue, is a hub for high-rise condo projects. Currently, there are 13 new towers in the downtown area across all phases of development, including The United Bldg. Condos by Davpart and The One by Mizrahi Developments, according to information on BuzzBuzzHome.
Housing Market News Alerts
Sign up for news alerts on the Toronto housing market
In late July, a Site Plan Approval application was submitted to city planners to construct a 50-storey mixed-use building with 465 units at 10 St Mary Street. The site also ecompasses 79-85 St. Nicholas Street and 710-718 Yonge Street. The architect on the project, architectsAlliance, has previously worked on condo towers in the Bay Street Corridor, including Lumiere and 1000 Bay Condos.
The development site in question is located just south of Bloor Street, bordered by St. Nicholas Street to the west, Yonge Street to the east, Charles Street to the north and St. Mary Street to the south. Eight properties currently occupy the land, including an eight-storey mid-century office building at 10 St. Mary Street, five commercial buildings at 710-718 Yonge Street and a two-storey brick former stable building at 81-85 St. Nicholas Street. All of these properties are designated under the Ontario Heritage Act as per the application’s Heritage Impact Statement.
According to the application’s cover letter to city planners, authored by Bousfields Inc., the 10 St. Mary Street site was previously owned by Lifetime St. Mary Inc. After submitting a rezoning application to the City for the demolition of the existing office building, the application was appealed to the Ontario Land Tribunal (formerly the Ontario Municipal Board) in 2015 for “failure to make a decision within the prescribed timelines,” under the Planning Act.
The current owners acquired 10 St. Mary Street in 2016 along with 79-85 St. Nicholas Street and 718 Yonge Street. The new owners also assumed the previous application and appeal. In 2017, the OLT approved zoning by-law amendments for a portion of the site, after which the owners expanded the area by acquiring a private laneway and nearby heritage properties along Yonge Street. A new settlement offer was endorsed in 2019 by the City, after which updated proposed zoning by-law amendments for the additional properties were approved. Now, the owners of the site are proposing minor revisions to the settlement plans, explains Bousfield’s cover letter.
The tower has been reduced by one level, down from 51 to 50 storeys. The number of units has also been increased by nine to a total of 465, boosting the gross floor area of the tower slightly to approximately 350,688 square feet. Of the 465 residences, the breakdown would include 25 bachelor suites, 211 one-bedroom, 45 one-bedroom-plus-den, 118 two-bedroom, 16 two-bedroom-plus-den and 50 three-bedroom units, according to the architectural plans. The units would be tenured as condos, as per the application’s project data sheet.
Along St. Mary Street, the tower would conserve and retain the existing office building at 10 St. Mary Street, while also providing retail spaces along Yonge and St. Nicholas streets behind the heritage façades. The tower portion would be constructed in the northwest corner of the site, with the main residential lobby fronting onto St. Nicholas Street.
Amenity spaces would be situated between the second and fourth floors, inclusive of two outdoor areas and an indoor pet spa. A multi-level underground parking structure would provide 105 vehicle parking spaces, along with bicycle and locker storage.