RioCan REIT increases density at mixed-use development in Toronto 

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Ontario Construction News staff writer

A proposed development at 2323 Yonge St. in Toronto, led by RioCan REIT, aims to create a mixed-use building that blends residential units with retail and office spaces.

The 58-storey tower will include 750 residential units and residential space. Lower floors will house retail spaces, designed to attract high-end tenants. This will include shops and restaurants.

A revised Official Plan and Zoning By-law Amendment applications submitted in June requests increased density and height including 24 more storeys, to create a 58-storey mixed-use, predominantly residential tower.

The development would include several public amenities to enhance community engagement:

Fitness Center: A fully equipped gym for residents

Community Spaces: Areas for social gatherings, events, and meetings

Green Spaces: Rooftop gardens and landscaped areas

Initially proposed in 2020 as a 37-storey tower, Toronto city council approved a 34-storey tower with 4 storeys of office space and 352 residential units.

Provincial legislation now directs increased densities in designated Major Transit Station Areas around rapid transit stations, and the proposal was changed to respond to the need for more housing.

The design by architects Dialog focuses on modernity and functionality. Key design elements include a vertical garden that incorporates greenery throughout the building to promote sustainability and enhance aesthetics.

DataBid is currently reporting on this project – 2323 Yonge Street Mixed Use Development Midtown – Toronto(0052062724)

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