Skip to main content

The Toronto skyline is seen in this file photo.

Mark Blinch/THE CANADIAN PRESS

A group of real estate companies have reached a deal for redeveloping a parcel of land in downtown Toronto, just north of the railway corridor and near the CN Tower.

Rights to the residential component of the land redevelopment are being sold for $180-million to Tridel Builders Inc. and a limited partnership managed by Woodbourne Canada Partners.

The land covers 7.67 acres, or 3.1 hectares, on the northwest corner of Front Street West and Spadina Avenue.

Story continues below advertisement

The land parcel was assembled in 2012 and 2013 by a joint venture known as The Well, which is jointly owned by RioCan REIT, Allied Properties REIT and Diamondcorp.

The group says rental apartments and residential condominiums will occupy nearly half of the the parcel's approved density.

The Well joint venture expects current tenants on the land to leave by the end of this year and development to begin in early 2017.

Report an error
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

If your comment doesn't appear immediately it has been sent to a member of our moderation team for review

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.