Rendering of proposed development at 2346 Yonge St.

Towering 56-storey condo proposed for area already overrun with development

The Yonge and Eglinton area is one of the busiest intersection in the city for development and construction with multiple projects underway and more on the way including the game-changing Canada Square redevelopment of the TTC bus barns. Now, the tall tower trend is heading a few blocks north where a sleek 56-storey condominium is being proposed at Yonge Street and Orchard View Boulevard.

Diamond Corp has officially submitted applications for an official plan amendment and zoning by-law amendment to support the development of the 56-storey mixed-use tower at 2346 Yonge Street. The proposed development will feature 407 residential units and 272.2 square meters of ground-level commercial space.

The development aims to transform a two-storey commercial bank building. Key elements include a three-storey podium with outdoor amenities, a 53-storey tower on top of the podium, and public realm enhancements such as a new 3.0-metre-wide pedestrian mid-block connection and the addition of street trees along Yonge Street and Orchard View Boulevard. The proposal also includes a 7.3-meter-wide boulevard with a pedestrian clearway to create an active and animated street environment.

According to a cover letter included in the development application, the site’s current zoning allows a height of only 16 metres. The proposal includes 461 bicycle parking spaces and minimal vehicular parking, emphasizing its transit-oriented design given its proximity to the Eglinton subway and Crosstown LRT stations.

Rendering of proposed development at 2346 Yonge St.
Rendering of proposed development at 2346 Yonge St.

Neighbouring the subject site immediately west is the Toronto Public Library – Northern District Branch and the Stanley Knowles Housing Co-operative, a 13-storey residential building.

“The application is not a surprise, because the provincial mandate for that block there is for tall towers,” said Mike Colle, city councillor for the area. “So I knew something was going to come in for that. The problem with the application is that right next door, there’s another developer that’s applied for 50 storeys.”

The proposed tower will feature a windowless north-facing wall to accommodate an adjacent 50-storey residential building, ensuring compliance with local development guidelines and mitigating potential construction impacts. But that is not the real issue with the neighbouring development that Colle has dubbed “The Wafer,” and it is a problematic application due to the complete lack of driveway access and no on-site car parking and slim 40-foot-wide lot.

“SoI tried to tell this applicant, why don’t you get together with the applicant next door and build something that’s essentially combined,” Colle said. “So it works because you can’t have your tower, and then this guy is going to be 50 storeys next door. It doesn’t make any sense. But they tell me that there’s no cooperation with the adjacent landlord to the north.”

An official plan amendment is requested to adjust the unit mix requirements, proposing 7.4% three-bedroom units instead of the 10% mandated by the Yonge-Eglinton Secondary Plan. This adjustment, according to the development company, is based on market trends indicating lower demand for larger units in the area.

“Even with this unit mix, the proposed development provides a significant number of two- and three-bedroom units (37.1% of the total proposed number of units), providing options for families and increasing the range of housing options in the area,” reads the application cover letter. 

Colle said the development to the north has circumvented the city development process and appealed the application to the Ontario Land Tribunal while Diamond Corp. is taking its application for 2346 Yonge St. through the city. As such, there will soon be a public meeting for those in the community wishing to provide input into the plan.