In Canadian real estate, the purchase agreement is the core document governing a transaction. It details rights, responsibilities, and legal obligations for both parties, covering key terms like:
Conditions (financing, inspection, sale of buyer’s home)
Included chattels and excluded fixtures
Once signed by both parties, the agreement is binding and enforceable under provincial law. Any changes must be made in writing and agreed to by both parties.
Understanding the purchase agreement ensures all aspects of the sale are clearly defined, minimizing disputes and guiding the transaction to a successful closing.
Example of a Purchase Agreement in Action
A buyer and seller sign a purchase agreement with a 60-day closing, $25,000 deposit, and conditions for inspection and financing.
Budgeting in real estate refers to the process of forecasting and managing income and expenses associated with owning, operating, or developing a property.. more
Tenant improvements refer to custom modifications or build-outs made to a leased space to suit the tenant’s operational needs, often negotiated as. more
Rendering of 1911 Finch Avenue West/BDP Quadrangle
A fixture of Toronto's Jane and Finch neighbourhood for upwards of 50 years, Jane Finch Mall has seen its fair share of change, from updated stores and restaurants to the addition of new grocery offerings to meet the evolving needs of the community. And it’s in for its biggest transformation yet. In the coming 15-20 years, the property at 1911 Finch Avenue West will be redeveloped into seven mixed-use blocks with a dozen new mid- to high-rise buildings and over 4,600 new residential units.
The proposed redevelopment, which comes from an affiliate of Southdown Builders Brad-Jay Investments Ltd., got the City's go-ahead in August 2024, around eight months after the company filed plans for Phase 1 of the master plan. Most recently, Brad-Jay has announced that they have brought on prominent investment and development company Hullmark to see the transformation through. The project will join similarly ambitious development endeavours in the company’s portfolio, including Beltline Yards, a master-plan community in the works from Hullmark and BGO.
Towers planned for phases 1 (outlined in pink) and 2 (outlined in brown) of the proposal/BDP Quadrangle
Concept plan/BDP Quadrangle
In a press release, Brad-Jay revealed that Hullmark has “acquired a minority interest in the Jane Finch Mall property,” and “will act as the Master Development Manager for the project.”
"We've been clear from the beginning that we will take the time needed to find the right partner, and we found that in Hullmark," said Jay Feldman, CEO of Brad-Jay, in the release. "Hullmark brings deep experience in thoughtful, community-minded urban development. We're looking forward to working collaboratively in the years ahead to help shape the future of this site in a way that reflects the needs and aspirations of the Jane Finch community."
"My grandfather, Murphy Hull, played a key role in establishing this neighbourhood — helping bring York Finch General Hospital to life and leaving a lasting legacy in the community,” added Jeff Hull, President of Hullmark. “Today, that same spirit of long-term partnership and community focus inspires us. Taking a minority stake in this site reflects our belief in honouring the community's decades-long vision and building together for the next generation."
View of Jane Finch Crossroads Plaza looking south from Finch Avenue/BDP Quadrangle
View of Jane Finch Crossroads Plaza/BDP Quadrangle
While the Jane and Finch neighbourhood hasn't always had the rosiest reputation and has been known in the past for its high unemployment and crime rates — however, the development focus from companies like Brad-Jay is indicative of its promising future. The area has been long overdue for better public infrastructure, and the future Finch West Light Rail Transit is expected to answer that need, increasing connectivity from Jane-Finch to other segments of the city. Meanwhile, large-scale projects like the Jane Finch Mall redevelopment will bring new people and jobs to the neighbourhood.
As mentioned, Brad-Jay already has plans in place for the the first phase of the development, which is set to deliver six towers from 28 to 47 storeys in height to the northwest corner of of the site. The site covers around 3.2 hectares, is predominantly made up of surface parking, and is minutes away from the forthcoming Finch West LRT.
View of neighbourhood park looking west from Driftwood Avenue
View of neighbourhood child-care facility and park/BDP Quadrangle
According to a City report from March 2024, the towers would jointly contain 2730 new residential units — including 186 studios, 1439 one-bedrooms, 821 two-bedrooms, and 284 three-bedrooms, for around a 40% share of larger family-sized units — and 61,009 sq. ft of non-residential gross floor area to accommodate retail, community space, and a daycare. In addition, plans call for the creation of new streets, parks, and public spaces. Per the project website, most of Jane Finch Mall would be retained during the first phase, with around 26,909 sq. ft set to be demolished.
Renderings prepared by Toronto-based architectural firm BDP Quadrangle show the six towers perched atop a series of mixed-use podiums ranging from two to eight storeys in height. The renderings also show four additional condo towers and two mid-rise buildings that will be delivered in a later phase.
Office towers in downtown Toronto. / Erman Gunes, Shutterstock
Just before the weekend, Toronto-based H&R REIT (TSX: HR.UN) disclosed that it had formed a special committee in February "to review and consider strategic alternatives after receiving an unsolicited expression of interest," confirming the possibility that the REIT may be sold.
H&R REIT says that after receiving that unsolicited proposal, it has received other proposals for potential transactions.
Details about the received offers were not provided, with H&R REIT only saying that the special committee has retained National Bank Financial as its independent financial advisor and Fasken Martineau Dumoulin LLP as its independent legal counsel. CIBC Capital Markets and Blake Cassels & Graydon LLP are also serving as advisors.
"The Special Committee continues to discharge its mandate and is currently considering and in discussions in respect of confidential non-binding offers received from a number of interested parties," said the REIT in a press release. "No decision has been made as to whether the REIT should proceed with a Potential Transaction, nor has any agreement been reached with a counterparty, and there can be no assurance that the Special Committee’s process will result in any Potential Transaction or any other alternative transaction. In addition, the timing, structure and terms of any Potential Transaction remain uncertain. The REIT continues to believe in its long-term strategy and its strategic repositioning plan, and will only pursue a Potential Transaction that is in the best interests of the REIT."
The REIT said that it will not be providing further comment on the process unless it is warranted and required by securities laws.
H&R REIT is one of the largest REITs in Canada, although a significant portion of its portfolio includes assets in the United States. As of March 31, 2025, H&R REIT had $10.5 billion in assets under management, split between residential, industrial, office, and retail properties across North America that totalled over 25 million square feet.
An overview of H&R REIT's portfolio as of Q1 2025. / H&R REIT
H&R REIT was founded in 1996 by Thomas J. Hofstedter, who currently holds the title of Executive Chairman and CEO. The firm began with a collection of office assets owned by the Hofstedter family and grew substantially in the years after going public. It has also made several large acquisitions over the years, including The Bow in Calgary and a stake in Scotia Plaza in Toronto, both of which have since been sold.
In 2013, H&R REIT made an attempt to purchase Primaris REIT (TSX: PMZ.UN) for $2.7 billion in a deal that would have made H&R REIT the largest REIT in Canada. However, H&R faced strong competition from Toronto-based private equity real estate investment firm KingSett Capital, and the two ultimately split Primaris' portfolio, with H&R REIT acquiring the rights to Primaris' name.
In 2022, H&R REIT then spun out its various enclosed shopping centres to Primaris REIT, which then immediately acquired a portfolio of properties from the Healthcare of Ontario Pension Plan (HOOPP). Today, Primaris REIT continues to target enclosed shopping centres and this year made several large acquisitions, including the Lime Ridge Mall in Hamilton for $416 million, although it has also been affected by the insolvency of the Hudson's Bay Company.
For H&R REIT, it currently has several notable development projects in its pipeline, although it is unclear when those projects will proceed as a result of the market downturn. Notable projects in Toronto include a 60-storey tower at 145 Wellington Street W, a 66-storey tower at 53-55 Yonge Street, two 65-storey towers at 310-330 Front Street W, and a multi-tower project at 77 Union Street.
H&R REIT's unit price jumped approximately $1.75 to a peak of $12.55 on Friday after it made the disclosure, but has since cooled off by approximately $0.35 on Monday as of time of publishing. If a transaction for H&R REIT is secured it would be the second big REIT sale of the year with the first being the pending sale of InterRent REIT (TSX: IIP.UN).
Joseph Feldman (left), David Feldman (right) of Camrost Felcorp
As it gears up for its 50th year in operation, Camrost Felcorp has made major changes to its senior leadership team, including the appointment of Joseph Feldman to President and Chief Operating Officer. The company behind landmark projects like Upper East Village in Leaside and the Exchange District in Mississauga announced Monday that former President David Feldman will stay on as Chairman and Chief Executive Officer, and will maintain an active role in Camrost’s “overall direction.”
“As we reflect on the company’s success over the past 50 years, it’s not only a moment to appreciate the legacy we’ve built — but more importantly, an opportunity to think boldly about the next 50,” said David in a press release. “We’re evolving our leadership and sharpening our focus to be even more responsive, ambitious, and future-oriented—building on the strength of our team, the values that have guided us from the beginning.”
Joseph credits his father as being “one of the most nimble” individuals in the industry. “He has no problem [thinking] differently and tackling projects that others are scared of, he has no problem being pioneering,” he adds. “For me, it’s a matter of maintaining that open-mindedness and think-outside-the-box approach that has driven his success, and the company’s success, over the last 50 years.”
While Joseph is stepping into the role during an inexplicably challenging time for the industry, he expresses that Camrost Felcorp is in a better position than most in the real estate development space.
“We're very fortunate because of the way in which we've operated over the last five decades,” he says. “We've done it all. We're not just condo developers, we've always dabbled in other tenures such as purpose-built rental. And the ability to be nimble is important when the industry is facing turbulent times. We're confident and we're excited.”
Notably, Joseph is one of more than 30 private and not-for-profit development sector experts from across Ontario on Mississauga’s Mayor’s Housing Task Force, which was assembled in 2024 and has already had a hand in lowering development charges by 50% for all residential projects, and 100% on all three-bedroom purpose-built rental units until November 2026.
“The City of Mississauga, where we do a lot of business, has stepped up. The Region of Peel, as of recently, has stepped up. The Province, as part of that announcement, has stepped up. And, come September, we're really excited to hear how the federal government [intends] to tackle this housing crisis,” he. “We have a strong team and we're ready to take advantage of the path forward that government provides.”
Camrost Felcorp has also promoted Jonathan West, Tara Welat, and Sabrina Carpino to vice president roles. “Each brings proven leadership and deep expertise that will help shape the company’s continued success in its next chapter,” says Monday’s release.
“The goal is to continue what we do very well, which is create communities that people love and to make any neighbourhood that we develop in better than before we started,” adds Joseph. “We're really excited to tackle the challenges to come at this pivotal time in the industry.”
A Scarborough housing proposal is moving ahead with a Site Plan Approval (SPA) application that seeks to replace a low-rise commercial plaza with a 34- and 11-storey mixed-use development that would offer 565 new rental units.
According to the planning materials, the SPA follows a September 2023 Zoning By-law Amendment application for a smaller 24- and 21-storey structure, which was approved in April 2024 with amendments that brought the heights up to their current specifications. With the approval came a (“H”) Holding Symbol to be cleared with the successful review of a Functional Servicing Report, Stormwater Management Report, and Methane Gas Study.
The developer filed a Lifting of the (H) application last September, and in December, following feedback from the City, and is resubmitting plans in tandem with the current SPA application.
If approved, this development would deliver hundreds of much-needed rental units within a 10-minute transit ride to Kennedy GO and subway stations. Located at 2157-2183 Lawrence Avenue East on the southeast corner of the Birchmount Road intersection, the development would also be well served by existing infrastructure and amenities along Lawrence Avenue.
Getting into the building itself, the structure would feature a shared six-storey podium from which the 34-storey 'Tower A' and 11-storey 'Tower B' would rise. The design has been crafted by Kirkor Architects, whose renderings reveal a liberal use of brass or brown coloured slabbing on the facade.
2157-2183 Lawrence Avenue East/Kirkor Architects
At grade, 4,970 sq. ft of retail space would wrap around the corner at Birchmount and Lawrence, while the residential lobby, pet wash, 4,538 sq. ft of indoor amenity space, and a 794-sq.-ft cafe and bistro would be located along Lawrence. The remaining 24,477 sq. ft of amenity space would be found on the mezzanine level and on the seventh floor rooftop patio and amenity level, which would include a 3928-sq.-ft terrace and 2,496 sq. ft of indoor amenity space divided between the two towers.
Across the two towers, the 565 rental units would be comprised of 308 one-bedroom units, 198 two-bedroom units, and 59 three-bedroom units. Available to residents within the three levels of underground parking would also be 235 vehicle parking spaces, including 176 residential spaces and 59 visitor parking spaces, and 425 bicycle spaces, made up of 385 long-term spaces and 40 short-term spaces.
Once complete, the development would be one of the larger towers in the surrounding area, offering a range of new housing options and as well as business and employment opportunities.
Welcome to Meet the Agent, an ongoing series profiling real estate agents from across Canada. With more than 150,000 agents, brokers, and salespeople working in 75 different boards and associations across the country, we thought it was about time they had a place to properly introduce themselves.
If you or someone you know deserves the same chance, email agents@storeys.com to apply.
THE DETAILS
Name: Ankur Singla
Areas of Focus: Brampton, Caledon, Mississauga, Toronto and the Waterloo Region.
I was born and raised in India, but Canada became my home when I moved here as an international student at 18. My journey from washing dishes to becoming a top real estate professional shaped my perspective on financial independence and success.
Where do you live now? And what neighbourhood (in Canada, or worldwide) would you love to live in (that isn’t your own)?
I currently live in Brampton, a thriving hub for families and real estate investors. If I had to choose another place, I’d love to experience downtown Toronto’s energy — there’s something about that skyline and fast-paced vibe that excites me.
I realized early on that real estate is the fastest way to build generational wealth. From renting to owning my first home, I saw the potential and wanted to help others achieve the same. My passion for guiding first-time buyers, investors, and families led me to this career.
In a few sentences, describe what a typical “day in the life” looks like for you. Does this align with what you expected before you became an agent?
Every day is different — calls, showings, negotiations, and content creation to educate my audience. I knew real estate would be demanding, but I didn’t expect to love it this much! Seeing clients get the keys to their dream homes is the best feeling.
What’s the single best advice you have for sellers?
Price your home right the first time! The market speaks, and overpricing can cost you valuable time and money.
What’s the single best advice you have for buyers?
Get pre-approved and know your budget — then act. Focus on what you can afford.
What made you choose to work for your current brokerage?
I wanted a brokerage that aligned with my vision — supporting growth, marketing innovation, and providing clients with top-tier service. Most importantly, I wanted to be part of a 100% Canadian brokerage that understands the local market inside and out, ensuring my clients get the best insights and opportunities.
Who do you believe is making the biggest waves in the industry today? Is there anyone you recommend people should be paying attention to right now?
I believe agents and creators who share real, honest market updates — not just hype — are making the biggest impact. In Canada, professionals who combine local data with practical advice on social media are changing how buyers and sellers make decisions. Anyone helping people cut through the noise and make informed moves is someone to watch right now.
What is one professional goal you have for the next year? What’s one that you have for the next 10 years?
Next year: Build a strong team under Singla Realty to serve more clients and expand my reach. Next 10 years: Become Brampton’s top realtor known for results, trust, and helping families build wealth through real estate.
Tell us about your favourite (or most memorable) sale, and why it stands out to you.
A first-time homebuyer who thought they’d never qualify for a home called me in tears after we closed the deal. That moment reminded me why I do this — to help people build a future.
What are the three words you hope your clients use to describe you?
Pre-approved plan for two-bedroom laneway suite/City of Toronto
In 2018, the City of Toronto amended zoning bylaw to allow laneway suites on residential properties in the Toronto and East York District, expanding the permissions citywide by 2020 and with the addition of garden suites in 2022. The amendment was intended to increase the number of housing options and infill opportunities in the city, ultimately helping to improve affordability for Torontonians.
Now, the City is implementing additional measures to cut down approval timelines and make the construction of garden and laneway suites more accessible, including releasing free blueprints, expanding online services for building permit submissions, and including garden and laneway suites in the existing Reliance on Professional Engineer’s Seal program.
“We need to build more affordable homes faster that people can afford. The City of Toronto is taking action to cut red tape and accelerate housing development in our city," said Mayor Olivia Chow in a press release on Friday. "Today’s announcement will simplify approvals at city hall by enabling online applications, supporting faster approvals and providing pre-approved designs to accelerate building. We’re tackling the housing crisis by enabling more housing development, including missing middle homes.”
The flashiest of the new measures is the collection of 'made in Toronto' building plans for laneway and garden suites, which include detailed plans for both studios and two-bedroom units. The designs are free, publicly accessible, and standardized.
Studio garden suite/City of Toronto
According to the press release, each design has been prepared by the City and aligns with the Ontario Building Code. The idea is to save builders time and money by streamlining and speeding up the design stage, though applicants will still be expected to prepare and submit building permit applications, and site-specific code and zoning reviews will still be conducted.
Mississauga launched their free garden suite designs last June, but when only one application was received in the first two months, the City began thinking of ways to encourage development. At the time, Andrew Whittemore, Commissioner of Planning and Building for the City of Mississauga told STOREYS this could include providing residents with more information about materials, measurements, and costs, streamlining the application process by reducing unnecessary requirements like grading plans, and waiving certain fees.
As of April 2018, laneway and garden suite projects in Toronto enjoy deferred development charges that can be paid up to 20 years after the issuance of a building permit. As well, the City is expanding the Reliance on Professional Engineer’s Seal program, which permits licensed professional engineers to sign off on designs, vouching that they do not violate the Ontario Building Code.
The program was implemented as a pilot in 2024 and, as of July 14, will include "accessory structures such as laneway suites and garden suites, mechanical systems, as well as enhanced fire protection measures." According to the press release, the measure is expected to speed up the time between submission and occupancy by around 28 days.
Additionally, the City is also enabling self-service permit application submissions laneway and garden suites, alongside multiplex conversions, secondary suites, new houses, and new residential units. Essentially the system would streamline permits by automating document checks and submission processes, further reducing timelines.
Finally, what the City calls 'Demonstration Plans' will be shared with the public to help residents understand where garden and laneway suites, as well as multiplexes, can be built across Toronto.
The City is expected to deliver 285,000 new homes by 2030, but in 2024, Toronto logged only 20,999 housing starts, falling short of its goal of 23,750 housing starts for the year. The City also failed to meet the deadlines laid out for several year-one milestones in their Housing Accelerator Fund (HAF) Action Plan, before missing out on millions in bonus funding delivered through the HAF in March for municipalities that met their housing targets and milestones and proposed additional initiatives to accelerate housing.
Toronto says they saw 850,000 homes proposed between 2020 and 2024 — the largest in its history, according to the City. Today's measures are apart of a larger effort by the city to meet housing targets, address lengthy timelines, and speed up approvals to deliver more housing.
A rendering of the new W Calgary and JW Marriott Calgary. / Truman, Louson
This week, Calgary-based real estate developer Truman and hospitality giant Marriott International announced plans for a group of new hotels that are "poised to transform the hospitality landscape in Calgary and will debut as part of a dynamic mixed-use development ideally situated within the city's rapidly evolving Culture + Entertainment District."
The first is the 69-storey W Calgary that will include 157 guest rooms and 239 branded residences. Guests of the hotel will have access to amenities such as a 7,500 sq. ft AWAY Spa, 16,259 sq. ft of meeting space, the W brand's signature Living Room, expansive FIT studio, and a rooftop bar. Residents will also have access to the amenities, in addition to a dedicated private entrance. The W Calgary is expected to open in 2029.
The second is the adjacent 62-storey JW Marriott Calgary that will include 248 guest rooms and 120 branded residences, each of which will be "meticulously designed to embody the brand's world-class approach to well-being and luxury hospitality." Both guests and residents will have access to 32,500 sq. ft of meeting space, an indoor pool, an outdoor pool, the brand's signature JW Market, a tranquil JW Garden, a curated retail area, and more. The JW Marriott is expected to open in 2030.
Both hotels are set for 232 15 Avenue SE, a corner site located at the intersection of 15 Avenue SE and Macleod Trail SE, directly across the street from Victoria Park / Stampede Station and the BMO Centre. The property is currently a large vacant lot being used as a parking lot, and has an assessed value of $9,590,000.
The announcement comes exactly a month after Truman and the Calgary Municipal Land Corporation (CMLC) announced plans for a new 13-storey hotel with 320 guest rooms at the southeast corner of 17 Avenue SE and Macleod Trail SE, immediately south of BMO Centre. In this week's announcement, Truman said this hotel will be under Marriott's Autograph Collection Hotel brand and will include 15,000 sq. ft of meeting and event space, several restaurants, a lobby bar, coffee shop, rooftop lounge, leisure terrace, jacuzzi, swimming pool, outdoor bar, and fitness club. The Autograph Collection Hotel is expected to open in 2028.
An overview of the Calgary's Culture + Entertainment District and the forthcoming hotels. / Truman, Louson
Truman will be developing all three hotels with its joint venture partner Louson and the two new hotels announced this week are set to be two of Western Canada's tallest residential towers and will together "redefine luxury in the city, offering elevated living and travel experiences in the city."
HOTEL TIMELINE
The Autograph Collection Hotel is expected to open in 2028
The W Calgary is expected to open in 2029
The JW Marriott is expected to open in 2030
"We are incredibly excited to announce our newest hotel development right here in our hometown of Calgary," said Tony Trutina, Chief Operating Officer of Truman. "Truman and Louson, as Calgary-based and family-owned companies, have a deep commitment to this city, and we believe this project will be a significant catalyst for the local economy. Beyond creating numerous construction jobs, these hotels are expected to generate substantial long-term employment opportunities, boost tourism, and support local businesses through increased visitor spending. We are immensely proud to invest further in Calgary's future and contribute to its vibrant growth."
"As Marriott continues to expand our hospitality options in Canada to meet the diverse needs of guests, owners and developers, W Calgary, JW Marriott Calgary, and the Autograph Collection Hotel are poised to usher in an unparalleled level of hospitality to this high- energy city," added Paul Cahill, Chief Operating Officer, Canada, Marriott International. "We are thrilled to closely collaborate with Truman and Louson, whose combined passion and love for Calgary will be a perfect complement to the elevated service that guests have come to expect from the Marriott Bonvoy portfolio."
A rendering of the W Calgary and JW Marriott (left), Autograph Collection Hotel (centre), and all three hotels (right). / Truman, Louson
Calgary's Culture + Entertainment District
The new hotels continue the City of Calgary's efforts to solidify its Culture + Entertainment District, after the Calgary Municipal Land Corporation (CMLC) and Calgary Stampede unveiled a 20-year master-plan vision in 2018 to transform east Victoria Park into a vibrant high-density neighbourhood with over 4 million sq. ft of new mixed-use development and 8,000 new residents.
So far, the CMLC has invested more than $650 million into foundational infrastructure and city-building projects, including the completion of the $500 million expansion of the BMO Centre in June 2024. Since then, the 17 Avenue SE Extension and Victoria Park / Stampede Station Rebuild have also been completed.
"Our shared vision for The Culture + Entertainment District as a vibrant, mixed-use neighbourhood is coming to life, with more than $2B in city-building infrastructure and cultural destinations completed or underway," said Kate Thompson, President and CEO of CMLC in this week's announcement. "As we knew it would, our city's public investment in the C+E is now attracting significant private interest and investment, bringing forward the hotels, residences and commercial spaces envisioned in the master plan that will, critically, support the needs of meetings, conventions and major events taking place in The District."
According to the press release, that private investment will total to $1.47 billion from Truman and Louson, which will not only deliver over 700 premium hotel rooms and 360 branded residences, but also support over 9,100 jobs during construction and over 2,000 ongoing jobs after completion. Truman says it also expects the three projects to generate over $120 million in GDP from hotel operations, an additional $111 million from visitor spending, as well as $76 million in government revenue.
Ground-level rendering of 81-83 Isabella Street/Arcadis
If you find yourself on Isabella Street, between Church and Jarvis in downtown Toronto, you may walk by a heritage building known as The Merlan without even knowing it. Designed by Ontario’s own Norman Alexander Armstrong, the 49-unit, Edwardian Revival-style apartment building has occupied 81-83 Isabella Street for just shy of a century.
However, with The Merlan rising just three storeys, its location in Church-Wellesley Village stands to be better utilized. As such, site owner Akelius Canada Inc. is proposing the demolition of the existing apartment in favour of a residential tower rising 69 storeys — some 744 feet, inclusive of the mechanical penthouse. The heritage facades of The Merlan would be integrated into the new build through adaptive reuse, according to a planning report that went to the City in early June.
The report also says that a total gross floor area (GFA) of 496,582 sq. ft has been proposed, translating to a floor space index (FSI) of 31.5. The entirety of the GFA would be dedicated to residential uses, with 647 units planned, including nine studios, 315 one-bedrooms, 254 two-bedrooms, and 69 three-bedrooms. That translates to a precise 50% share of larger family-sized units “to meet the range of market demands and household needs.” The total unit count also includes 48 replacement rentals, all of which would be configured as one-bedrooms.
In terms of amenity space, a total of around 25,769 sq. ft has been proposed, and that would be split between a series of indoor amenity rooms, dedicated outdoor amenity terraces, and what’s being called a “sky garden.” Although the building would be served by only 29 short-term vehicle parking spaces, 711 bicycle parking spaces are planned within the mezzanine level.
Renderings prepared by Arcadis show a two-storey base with the retained heritage facades, topped with a 10-storey lower tower element and a 57-storey upper tower element. The heritage facades retained from The Merlan are meant to read primarily from Isabella Street.
Isabella Street has become a popular location in Toronto for intensification — likely because it runs through the Church-Wellesley neighbourhood of the city, and also because it’s proximate to other high-traffic areas like the University of Toronto and Toronto Metropolitan University (formerly Ryerson). It’s also a short walk from Yonge Street. Other approved developments in the area include 69 storeys at 90-94 Isabella Street and 62 storeys at 88 Isabella Street. In addition, 135 Isabella is slated for a 69-storey tower, which KingSett Capital proposed in June 2023 — however, the firm has seemingly moved on from the project, as it was listed for sale by RBC Capital Markets Real Estate Group last fall.