A Zonix Group development site has hit the market for an unlisted price, offering developers the opportunity to erect a high-density, transit-oriented residential development at the border of Toronto and Markham. The sale of the site is being represented by Jeremiah Shamess and Matthew Soper of Private Capital Investment Group at Colliers and it currently has approvals in place for a 40- and 44-storey complex set to deliver 1,060 residential units, and potentially more.
Located at 36-48 Steeles Avenue East and 37-49 Highland Park Boulevard, the site spans 2.3 acres and is bounded by Steeles Avenue in the south, Dudley Avenue in the west, Highland Park Boulevard in the north, and single-detached dwellings in the east. Currently the site is occupied by 14 single-family homes that would be demolished upon redevelopment of the land.
Zonix first proposed the redevelopment of the site in early 2019 with an Official Plan Amendment (OPA) and Zoning Bylaw Amendment (ZBA) application filed the City of Toronto, City of Markham, and York Region. At that point, plans called for a lesser 27- and six-storey development that would have delivered 533 units.
Now approved for the site, as of May 2024 via the Ontario Land Tribunal (OLT), is a two-tower residential complex with total heights more than double the original proposal. In total, the project would contain 858,648 sq. ft with a Floor Space Index (FSI) of 8.27. Plans provide for 510 vehicle parking spaces, 740 bicycle parking spaces, a 19687-sq.-ft public park, and a 4843-sq.-ft privately-owned publicly-accessible space.
Specs:
- Address: 36–48 Steeles Avenue East and 37-49 Highland Park Boulevard
- Zoning: Residential zoning and designated Residential Mid Rise under the OPA
- Approvals: OPA and ZBA approved
- Size: 2.3 acres and 858,648 sq. ft of GFA
- Sales Inquiries: Colliers (Jeremiah Shamess and Matthew Soper)
In addition to the already secured OPA and ZBA, Colliers shares that a third building could be added into the mix. "On June 23, 2025 the Vendor had a positive pre-consultation meeting with the City regarding adding a 23 storey rental tower, which would deliver an additional 250 units and 180,000 SF of GFA to the development," reads the listing. "Initial feedback from the City was positive, and a formal resubmission is anticipated in Summer 2025."
36–48 Steeles and 37-49 Highland Park/Arcadis via Colliers
From a location perspective, the site is situated along one of North York's major roads and, as such, is well-serviced by existing and planned transit options. The site enjoys easy access to Highways 407, 404, and 401, numerous high-frequency bus services on Steeles Avenue and Yonge Street, and is located within walking distance of a major transit station on the planned Yonge North Subway Extension.
On top of that, the neighbourhood is ideal for residential development, with amenities like the Centerpoint Mall and a wide array of restaurants, parks, schools, and other conveniences in the vicinity. As well, the area has promising demographic features, such as a well-educated, high-income, working-age population, and an over 90% employment rate, according to Colliers.
Interested developers would have the opportunity to deliver much-needed intensified residential development to this vibrant corner of North York, helping to facilitate development and growth of a neighbourhood already undergoing significant transformation. Major developments nearby include two proposed 50-storey mixed-use towers, one at 7 Steeles Avenue East and one at 6979 Yonge Street.
