Everyone wants in on the condo game in Toronto, from celebrities like Simu Liu and Pharrell Williams, food brands Loblaws and Rabba Fine Foods, and even iconic national automotive and housewares chain Canadian Tire.
Canadian Tire's real estate arm, CT REIT, took its first steps into the condo market in late 2022, submitting a huge proposal to redevelop its commercial property and attached gas station at 835 Yonge Street and replace them with 49-storey and 41-storey condo towers with a redeveloped commercial flagship.
But they haven't stopped there. To start 2023, CT REIT has filed a new development application to redevelop its property at 2681 Danforth Avenue, just east of Main, with another two-condo tower development.
The plan calls for the demolition of a portion of the existing Canadian Tire store building, a single-story garden center and a site with 245 surface parking spaces.
In place of what currently exists, the proposal calls for a complex designed by Turner Fleischer Architects, consisting of a pair of 44- and 33-story residential towers, with a common nine-story podium that would house a new Canadian Tire store and auto service center.
A total of nearly 80,000 square meters of floor space throughout the complex would be devoted primarily to housing, more than 87% of the total. A commercial component of over 11,000 square meters would house the new Canadian Tire, which would replace the existing Canadian Tire.
The proposal also calls for the construction of a 958.6-square-meter park at the southern end of the parcel, bringing 10% of the complex's floor area to a new neighborhood amenity.
The proposed residential component consists of 905 apartments spread between the two towers, with 565 one-bedroom, 249 two-bedroom and 91 three-bedroom apartments.
The area surrounding the existing Canadian Tire is already primed for density, with approved towers to the south and east of up to 39 storeys and proposals for up to 55 storeys.
A comparatively reasonable 44-story and 33-story proposal would likely not face the political resistance typical of high-rise tower projects in predominantly low-rise neighborhoods, but neighbors concerned about traffic might reject the proposed parking garage.
Despite the project's immediate proximity to a subway station on Main Street and a GO station on Danforth, a massive 340-car subway parking garage is proposed.
Although the garage will be split between residential and commercial uses, it represents a substantial increase in parking capacity over the current 245 spaces.
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