Sales for a controversial condo development project on the northwest corner of Yonge Street and Park Home Avenue have been strong, according to a development representative.
“They’ve been fantastic,” said Mimi Ng, for Menkes Development. The Gibson Square project at 5170 Yonge St. will add 937 residential units and more than 1,100 underground parking spaces to the site.
The development — which consists of two 42-storey towers on a five-storey podium — will also include a dozen live-work townhouse units and retail space.
Ng said that since the sales centre opened in November more than 50 per cent of the approximately 450 units of the south tower have already been sold. Sales of the north tower would likely begin later this year, she said. “The response from the marketplace has been quite strong, and we’re very happy with how things have gone so far.”
Concerns still exists, however, for the impact the development will have.
"The Gibson House is not in a great place now, visually,” said Elizabeth Nelson-Raffaele, curator of the Gibson House Museum. Built in 1851, Gibson House Museum — one of Toronto’s 10 historic museums — sits next to the condo development site.
