- What Kayra Holdings is looking to sell a redevelopment site in Toronto
- Why The site is approved for a seven-storey residential building
- What next Century 21 Titans Realty has the listing
A redevelopment site on Toronto’s Danforth Avenue is on the block and is expected to go for more than $4m, Green Street News can reveal.
The property, at 3258 Danforth Avenue in the Scarborough region, is owned by Kayra Holdings. Century 21 Titans Realty has the listing.
The property is occupied by a used-car dealership, but it has received approval from the city for the construction of a mid-rise residential development.
A seven-storey, 25-unit residential development is allowed on the site, but marketing materials note that it may be possible to achieve even higher density with an eight-storey, 44-unit building.
The site is 600 m east of Victoria Park Avenue and a number of retailers such as an Esso gas station, LCBO, grocery store and pharmacy Metro, and TD Bank, and several restaurants can be found near the intersection.
The property is also 900 m from the Victoria Park subway station and 2 km from the Danforth GO station.
Offers are being reviewed on a rolling basis.
