Bazis Inc., one of the developers who owns a stake in the TD Canada Trust property on the northeast corner of Yonge Street and Eglinton Avenue, has submitted a formal planning application for a 44- and 64-storey tower. The buildings would share a three-storey podium with office and retail uses and feature 1,166 residential units and 371 underground parking spaces. A rezoning application is required, as the site is currently zoned for roughly 21 storeys and five times lot coverage. But, according to a city planner, the more up-to-date official plan has the site slated for greater density.
Coun. Josh Matlow recalled being furious when he learned the application had been submitted, based on where the dialogue between the developers and the community had left off. Matlow would like to see the developers re-engage with the community and revise the application.
“It’s ridiculous,” he said of the drawing. “It’s a big cube. There’s no way to even see what it looks like.” Matlow suspected that the hasty application was made in anticipation of a city lockout — a sentiment that was echoed by Terry Mills of the Sherwood Park Residents’ Association.
Mills, also a local planner, would like to see the application assessed in the broader context of the 200-metre stretch of Eglinton Avenue, between Duplex Avenue and Cowbell Lane, that is expected to see at least seven developments in the coming years.
“The success of this building will be measured in how well it serves the public,” he said.
Tom Cohen, president of the Eglinton Park Residents Association, cited good integration with surrounding buildings, public space, shopping and transit access as key concerns.
“The real interest is less in how high you go — if you don’t pass Minto [the nearby 54-storey building] — than in hitting the street well,” he said.
Michael Gold, president and CEO of Bazis Inc., did not respond to a request for an interview.