The space could allow for three large towers, and with great access to the subway, they’d certainly be in demand.
The Church-Wellesley neighbourhood is buzzing over news that a large Wellesley Street parking lot, plus two adjacent properties on Maitland Street, are being jointly marketed as as an “outstanding development opportunity” in the downtown core, offering a massive 1.3 million square feet of redevelopment space in up to three separate condo towers.
The three properties being offered for sale include the Toronto Parking Authority surface lot at 15 Wellesley Street East, which extends from Wellesley at the north to Maitland Street at the south, as well as a large brick mansion used as office space at 20 Maitland and the Catholic Children’s Aid Society of Toronto building at 26 Maitland.
‘Landmark highrise development opportunity’
A CBRE Limited electronic flyer for what’s being called the “Wellesley Development Lands @ Yonge” has been circulating by email amongst residents in the Church-Wellesley neighbourhood since mid-April. The 4-page PDF document includes an artistic cover illustration depicting three tall towers on the site, described as a “Landmark High Rise Development Opportunity in the Heart of Toronto’s Downtown Core.”
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