Toronto-based international developer Hazelview Investments Inc. is selling a four-building Thornhill redevelopment site for 100% freehold interest.
The 7.7 acre site at 300 John Street is located at the Bayview Avenue and John Street intersection in Thornhill, "ideally situated proximate to the rapidly expanding Yonge and Steeles node and Langstaff GO Station, in an area that is being targeted for significant intensification," says the listing.
Alongside Graziani + Corazza Architects, Hazelview Investments has planned a mixed-use condo, rental, commercial, and parkland development, which will consist of 615 residential units across four buildings and 752,920 sq. ft, with towers ranging in height from 19, 17, 12 and seven storeys.
Throughout the development will be 592,499 sq. ft of residential floor area and 154,440 sq. ft of retail, office, and commercial space. Additionally, there is a 0.69 hectare public park planned along John Street and plans to preserve the heritage building that houses Santorini Estiatorio, a beloved Greek restaurant.
- Address: 300 John Street, Thornhill
- Lot Size: 7.7 acres
- Price: Unpriced
- Listed By: JLL Capital Markets (Matt Picken, Bryce Gibson, and Tyler Randa)
One major selling point is that Hazelview has already received zoning and approvals to permit the redevelopment of the existing commercial property. Set to be redeveloped: a 95,918-sq.-ft office building and a 74,310-sq.-ft retail plaza, "which will provide an attractive income stream throughout the site plan approval process," according to the listing.
300 John Street/JLL Capital Markets
The site was recently listed without an asking price by JLL Capital Markets who describes the property as an "excellent opportunity to acquire an approved, scalable development site in a highly sought-after area, with attractive holding income throughout the site plan approval process." Plus, the property is being sold free and clear of existing debt.
Additionally, the site is not only located near planned and existing transit options, but it has easy access to Highway 401 and 407, Johnsview and Pomona Mills Park, the Ladies Golf Club of Toronto, and conveniences like a Food Basics and Shoppers Drug Mart locations, which are contained within the planned redevelopment site itself.
