- What An Eglinton Avenue site is on the block as a future high-rise development opportunity
- Why The site is adjacent to a future LRT station
- What next JLL has the marketing assignment
A development opportunity near the intersection of two major Toronto throughways is on the market for $15.4m.
The property, comprising three low-rise mixed-use buildings, is near the northwest corner of Eglinton Avenue West and Bathurst Street, beside the future Forest Hill Eglinton LRT station. JLL has the listing.
The seller, a private investor, has drafted plans for an 18-storey residential building, though no zoning bylaw or official plan amendments have been obtained. Marketing materials note that the site’s proximity to transit primes it for a high-density development, likely with retail at grade given high levels of foot traffic in the area.
The existing buildings span from 852 to 868 Eglinton Avenue West and are occupied by five commercial tenants and six residential tenants. All tenants are on short-term leases, allowing for flexibility.
The site is in Toronto’s affluent Forest Hill neighbourhood, which has an average household income of $232,000 and an average home price of $4.3m, marketing materials note. The average condominium price is $1,840/sq ft.
The site is being offered free and clear of existing financing.
