Five years after first launching the vision for a sprawling mixed-use community in Scarborough, Toronto-based developer Republic Developments and private equity firm Harlo Capital are putting their sprawling Scarborough Junction master-planned community on the market, in what will likely be one of the largest and most unique commercial real estate listings this year.
The Scarborough Junction project is set for a land assembly immediately west of the Scarborough GO Station. The site is roughly bounded by St. Clair Avenue East on the north, the railway corridor on the east, a few commercial properties to the south, and Danforth Avenue on the west.
The property is comprised of 11 legal parcels — 411-415 Kennedy Road, 636-663 Danforth Avenue, and 3569-3595 St. Clair Avenue East — that total to 26.24 acres. The various properties are currently occupied by warehouses, a large sports complex, and several commercial buildings.
The development application was submitted in 2020, revised in 2022, then went through the Ontario Land Tribunal appeal process before the developers reached a settlement with the City of Toronto in February 2024.
The Scarborough Junction site and its existing context. / Colliers
Approved for the site is a total of 7,655 units — 5,398,796 sq. ft of residential floor space — across 12 towers between 19 to 58 storeys and 206,191 sq. ft of commercial space, for a grand total of 5,661,108 sq. ft of gross floor area. The master plan envisions the overall site as 10 blocks that would be redeveloped across three overarching phases.
The project is also to include 3,478 parking spaces and 425 new trees to be planted, with 15% of the project site to be dedicated as parkland.
The Listing
Although the property listing has yet to be made public, the 26-acre site will be listed by Jeremiah Shamess, Matthew Soper, Reid Taylor, and Johann Rodrigues of Colliers in the coming days, according to a sales brochure provided to STOREYS. No asking price or price guidance is listed in the sales brochure.
- Address: 411-415 Kennedy Road, 636-663 Danforth Avenue, and 3569-3595 St. Clair Avenue East
- Site Area: 1,143,036 sq. ft (26.24 acres)
- Net Site Area: 963,013 sq. ft (22.11 acres)
- Approved Gross Floor Area: 5,661,108 sq. ft
- Units: 7,655
- Price: Unpriced
- Listed By: Colliers (Jeremiah Shamess, Matthew Soper, Reid Taylor, Johann Rodrigues)
"The site, historically isolated by wide roadways and railways, now offers a unique opportunity for reintegration," the listing notes. "With direct access to the Scarborough GO Station, the Scarborough Junction Master Plan will transform this previously disconnected industrial area into a cohesive, pedestrian-friendly, transit-oriented community. Central to the vision is a new 2.63-acre (144,453 square feet) public park, which will be surrounded by a network of new streets, pedestrian pathways, and privately owned publicly accessible open spaces (POPS), seamlessly connecting the development to the surrounding neighbourhoods."
A breakdown of the Scarborough Junction Master Plan project. / Colliers
The listing also notes that the approved parking for the project is to be provided above-grade, which significantly reduces construction costs and shaves at least four months off of construction — per phase. The listing team also notes that premium condos in the nearby Scarborough South area have achieved prices of over $1,275 per sq. ft and that Scarborough Junction is "anticipated to deliver $142.1 million to $318.3 million in added value, translating to a $25.1 to $56.2 PSF GFA premium over comparable land."
"To be honest, our business plan from the get-go was always to zone and sell the land, and we're really just following through on our business plan" said Republic Developments President & CEO Matt Young in a brief interview with STOREYS on May 20. "There was always a potential that we could stay in the deal, if we raise enough capital or have a joint venture partner who came in, and those are all still options and possibilities. But per our business plan with our investors, the plan was to zone and sell the land, so we're now at the point where we're able to put it out there and see who's interested."
"It's obviously a tough time in the market, but it's also basically the only 26-acre site on the GO train that's 20 minutes to downtown Toronto, so it's a pretty, I'd say, once-in-a-lifetime opportunity for the right buyer," added Young, who declined to comment on the current ownership split between Republic and Harlo.
