- What SharpWise Investments listed a development opportunity in Toronto’s West End for $10.4m
- Why The assemblage is zoned for an 80-unit mixed-use building
- What next CBRE has the listing
SharpWise Investments is looking to offload a fully zoned development opportunity in Toronto’s Junction neighbourhood for $10.4m.
The assemblage, at 2978-2988 Dundas Street West, is approved for an eight-storey mixed-use building with 80 residential units and 880 sq m of retail space on the ground floor. Marketing materials note that there is potential for further density with the acquisition of neighbouring properties.
SharpWise received approval from the Toronto City Council for the development in 2018 but never moved forward with construction. The developer initially shopped the assemblage in March for $11.8m, but no buyer was found.
CBRE is marketing the properties, which comprise low-rise retail buildings with rental apartments above. Seven rental replacement units are included in the total unit count for the approved development.
The assemblage offers a 100-ft frontage along Dundas Street West and comes with 14 parking spots. Existing retail tenants are nearing lease expirations, marketing materials note, offering sizable rent upside on renewal. Tenants include a barber shop, an arts market and multiple restaurants.
