- What Kilmer Group and Tricon Residential have been selected for a redevelopment project in Toronto
- Why Plans include 873 rental homes and a 23,000 sq ft Toronto Paramedic Services hub
- What next Units are expected to be ready to be leased as early as Q1 2029
The City of Toronto and CreateTO, its real estate portfolio manager, have named Kilmer Group and Tricon Residential as partners on a redevelopment project.
The project, comprising two towers, is slated to transform the decommissioned Toronto Coach Terminal at 610 Bay Street and 130 Elizabeth Street into a mixed-use development with 873 rental residential units, 290 of which will be affordable rental homes. It also will have a 23,000 sq ft Toronto Paramedic Services hub, a public plaza and retail spaces.
Plans also include an organ repair centre, operated by the University Health Network and housing specifically allocated to healthcare workers; WoodGreen Community Services; the March of Dimes; and Wigwamen.
The Bay Street units are expected to be completed and leased in the first quarter of 2029, with the Elizabeth Street homes coming in the first quarter of 2030.
The sites were selected for redevelopment through the ModernTO program adopted by the Toronto City Council in October 2019. The properties are part of the eight sites the city has identified as being underused and has selected to be redeveloped.
According to the CBC, the site was decommissioned in 2021 as bus services were moved to Union Station.
