- What Northbridge Capital has filed a development application on 16 acres in the Toronto suburb of North York
- Why The firm aims to build six industrial buildings on the site
- What next Toronto’s city council must approve the proposal
Northbridge Capital has proposed to develop an industrial complex on 16 acres in suburban North York.
Developer Biglieri Group, on behalf of Northbridge, filed an application with the City of Toronto for six one-storey buildings totaling 365,000 sq ft that would use the addresses 16-20 Lesmill Road as well as 840 and 842 York Mills Road.
The Toronto-based Northbridge and Nicola Wealth Real Estate paid $67.5m for the site in 2021, according to Green Street’s Sales Comps Database.
Five of the buildings would be multi-unit industrial condominiums, four with 26-foot clear heights and one with a 32-foot clear height. The sixth is designed for single-tenant occupation, with a 26-foot clear height. A vacant one-storey office building at 20 Lesmill would be demolished.
The application is under review and may be revised depending on feedback provided by various city departments. The site plan application must be approved by the city’s planning department before receiving a final endorsement from Toronto Council.
Northbridge had initially planned to build a 250,000 sq ft industrial park at the site, Hub at York Mills, marketed for last-mile distribution. Colliers launched a promotional campaign in 2022 for the project before the plan was shelved.
The site is 2 km away from the nearest on-ramp to the Don Valley Parkway, which connects to Highway 401 and provides access to downtown Toronto.
