- What Amexon is pursuing an office-to-residential conversion project
- Why There has been decreased demand for suburban office space
- What next The city will review the application for approval
Amexon is the latest Toronto developer to pursue an office-to-residential conversion, filing plans to revamp a 14-storey building near a busy interchange in the city.
The developer is looking to build out 331 loft-style rental apartments, the majority of which would be two- and three-bedroom suites, in the 24,000 sq ft building at 250 Ferrand Drive.
As part of the project, Amexon would split the 14th floor, which has “an overly large floor-to-ceiling height” and create a new 15th storey.
Indoor and outdoor amenity space would be provided on the top floor. On the ground floor, there would be a cafe fronting onto Ferrand Drive.
The building is “substantially vacant,” Amexon said in its application, and has been “underutilized for several years” — a reflection of the decreased demand for suburban office space, the firm added.
The above-grade parking structure behind the building would be demolished and replaced with sod until a long-term use for that portion of the site is determined. Twenty-nine parking spaces would be provided at grade, with electrical vehicle charging made available.
Amexon said it will market the project as “e lofts” as a nod to the environmental sustainability of adaptive reuse projects. The building will also have energy-efficient facades and solar panels.
The building is less than 300 m south of the future Eglinton Crosstown LRT. It is close to amenities like the Aga Khan Museum, Flemingdon Park Golf Club and several retail plazas. It is 350 m southwest of where the Don Valley Parkway meets Eglinton Avenue East — one of the city’s major highways and throughways.
The City of Toronto will now review the application for approval.
Amexon is a Toronto-based developer primarily focused on commercial and residential condominium projects.
