159 wellesley st e approved high density development opportunity in downtown toronto SOLD LAND
SERVI C ES
GROUP 159 wellesley street east, toronto on
Property 159 Wellesley Street East, City of Toronto, Ontario Address: The subject property is located on the southwest corner of Wellesley Street East and Sherbourne Location: Street, in the City of Toronto. Lot Size: + 12,895 SF (0.30 acres) The site is zoned for: 247,839 SF Residential GFA 1,614 SF Non-Residential GFA 249,453 SF Total GFA
Height: 116.0 m Zoning: Residential units: One Bedroom 69% Two Bedroom 22% Three Bedroom 9%
Parking: A minimum of 77 parking spaces will be provided in underground parking. An additional 50 parking spaces are to be provided off site.
The Toronto Official Plan designates the property Apartment Neighbourhoods. Apartment Neighbourhoods are primarily apartment buildings and parks, local institutions, cultural Official Plan and recreational facilities and small-scale retail services, as well as office uses that serve local residents. New development in Apartment Neighbourhoods will locate and mass new buildings to provide a transition between areas of different development intensity and scale.
The property is well situated, close to many major transportation routes in the heart of Downtown East, with easy access to the Sherbourne Subway Station on the Bloor-Danforth Line and Wellesley Station on the Yonge-University-Spadina Line. The 506 College Streetcar Transportation runs 24-hours east-west along College/Carlton Street, from High Park Loop/Dundas West Station to Main Street Subway Station and the Danforth GO Station. Three bus lines have stops at the front door. The site forms part of the Cabbagetown-South St. James Town neighbourhood, with North St. James Town to the north of Wellesley Street, and is located at the southwest corner of Wellesley Street East and Sherbourne Street in downtown Toronto. The site is well located in close proximity to the downtown core and a number of educational institutions and amenities, Surrounding including Ryerson University, George Brown College, the University of Toronto, the St. James Area Town Branch Library and the Toronto Reference Library. The site is also nearby to some of the City’s finest public open spaces such as Allan Gardens, situated south of the site at Sherbourne Street and Carlton Street, which features playgrounds, gardens, an off-leash area, and a wading pool. Wellesley Park, Winchester Park and Riverdale Park are located east of the site and are within a 15 minute walk of the subject site. Through a Section 37 agreement with the City, the Developer is required, as a condition Habitat for of approval, to sell seven or eight 3-bedroom residential condominium apartments in the completed project to Habitat for Humanity or a similar non-profit provider of below market Humanity ownership housing. These units will have an aggregated total floor space of approximately 7,300 square feet. PT LT 59 PL D30 DESIGNATED AS PT 1 PL 66R25934 SUBJECT TO AN EASEMENT OVER Legal Description PT 1 PL 66R25934 IN FAVOUR OF SHELL CANADA LIMITED AS IN AT2583718 TOGETHER WITH AN EASEMENT OVER PT 2 PL 66R25934 AS IN EP103203 CITY OF TORONTO Offer wednesday, june 18, 2014 by 12:00 pm (ET) Submission Date:
LAND SERVICES GROUP offering process 1. RECEIPT OF MARKETING BROCHURE This marketing brochure has been provided to potential purchasers highlighting the magnitude and quality of this development opportunity.
2. REQUEST FOR A QUALIFICATION DOCUMENT (RFQ) & CONFIDENTIALITY AGREEMENT (CA) Potential purchasers that require the Standard Agreement of Purchase and Sale are to complete the RFQ and CA and return it to: [email protected] The RFQ should include: • Background of proponent(s); • Financial ability of the proponent(s); • Past projects of the proponent(s)
3. STANDARD AGREEMENT OF PURCHASE AND SALE Upon completing the CA & RFQ, a Confidential Offering Memorandum and a Standard Agreement of urchaseP and Sale will be available for qualified purchasers.
4. OFFER SUBMISSIONS All submissions are requested to be submitted on the Standard Agreement of Purchase and Sale provided by the Vendor on Wednesday, June 18, 2014 by 12:00 PM (ET) for initial review. Based on the submissions received, the Vendor may proceed negotiating with one or more parties with the intention of executing the Agreement of Purchase and Sale.
Submissions should be made to: Lauren White CBRE Limited 2001 Sheppard Avenue East, Suite 300 Toronto, ON M2J 4Z8 [email protected] TORONTO DOWNTOWN LAND SERVICES GROUP
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MUSEUM STATION 625 Arena Museum 45 416 495WASHINGTON 6257 AVENUE 110 CHARLES STREET WEST Rogers
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*Sales Representative STREET RRAY and Retail Mount Sinai Hospital GERRARD STREET WEST **Broker GERRARD STREET EAST 111 Econo Lodge Inn Lucliffe & Suites Downtown Place Eaton Chelsea Hotel 385 This disclaimer shall apply to CBRE Limited, Real Estate Brokerage,700 and to all 378other divisions of the Corporation; to include all employees WALTON STREET WALTON STREET
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655 SHERBOURNE STREET Children University PEMBROOKE STREET JARVIS STREET 720 GEORGE STREET assumptions and estimates obtained from third parties (the “Information”)18 has not been verified by CBRE, and CBRE does not represent, ELM STREET CHESTNUT STREET
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SIMCOE STREET Building Research Learning DARCY STREET and Learning Centre 522 GOULD STREET or liability, direct or consequential, for the505 InformationDowntown or the recipient’s North reliance upon the Information. The recipient of the Information 500 EDWARD STREET 222 should take such steps as the recipient may deem necessary to verify the Information prior to placing any relianceProvincial upon the Information. 123 Coach Terminal Government 336 480 Toronto ST. PATRICK STATION 481 595 Dundas Edward The Atrium on Bay DUNDAS STATION Life 250 Centre DUNDASThe STREET WESTInformation may change and any property described in the Information40 may be withdrawn from the market at any time without notice 180 150 130 20 10 377 DUNDAS STREET WEST GRANGE PLACE 121-123 277 LARCH STREET or obligation to the recipient from CBRE. CBRE and the CBRE logo are the1 service marks of CBRE Limited and/or its affiliated or related Police 52 Hilton Garden Art Gallery of Ontario Division 438 443 Inn CHESTNUT STREET Dundas Square Toronto City Centre
CENTRE AVENUE 439 Metropolitan Ryerson 132 Hotel Business School companies in other countries. All other marks displayed on this BAY STREET document are the property of their respectiveDUNDAS STREET EAST owners. All Rights Reserved. 257 425 21 33 197 258 City-TV GRANGE AVENUE 122 FOSTER PLACE 80 Mapping Sources: Canadian Mapping 393Services [email protected]; MapPoint, DMTI Spatial, Environics Analytics, Microsoft
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70 First Canadian Place Plaza KING STATION Alexandra Tower Tower Building 12 204-214 217 Hyatt Princess of Festival Tower Theatre 10 18 34-36 148 152 166 172 Regency Wales Theatre 200 150 130 100 20 4 8 212 44 Toronto 284 266 260 220 214 KING STREET EAST 430 400 388 370 322 276 KING STREET WEST 125 193 KING STREET WEST 73 95 135125 145 187 55 25 11 The Suites 145 121 North 69 Le Meridien King James Place 65 409 393 355 325 225 77 TD Bank at 1 King BLUE JAYS WAY St. Andrews TD North Pavillion King Edward 161 Standard West Hotel EMILY STREET SIMCOE STREET Church Tower Metro Centre 100 Life Cosmopolitan Parking 244 67 Centre West Hotel 41-43 Le Germain UNIVERSITY AVENUE Toronto-Dominion Centre St. Lawrence 120 Hotel Roy Thompson Ernst 199 COLBORNE STREET 12 24 Metro Hall 21 Market Hall 100 Hall & Young Commerce Square MERCER STREET Tower Court East 60 55 47 55 Northbridge TD Bank Tower Wellington 55 TD West 66 57 HSBC 222 53 Square Metro Centre Tower Victoria Hotel JOHN STREET 70 100 Wellington Tower Design South 49 10 26 36 50 145 Soho 70 Exchange 220 30 48 CLARENCE SQUARE 180 Metropolitan 200 WELLINGTON STREET EAST 109 Hotel WELLINGTON STREET WEST FRONT STREET EAST WELLINGTON STREET WEST Bay Wellington 145 The 95 81 87 Toronto 79 Tower 69 75 Residence 155 40 TD South 277 Strathcona Club Royal Bank Brookfield Place 33 Inn The Hotel Tower Plaza 181 65 St. Lawrence Ritz-Carlton RBC Centre North Tower 49 55 41-45 Market WINDSOR STREET Toronto HEENAN PLACE 37 1 PIPER STREET 320 200 35 8 TD Canada 11 CBC Broadcast Centre Trust Tower 49 Fairmont Royal York Hotel Royal Bank 6 Plaza St. Lawrence 5 South Tower 161 Centre THE ESPLANADE Simcoe Place 22 3 330 310 YONGE STREET Parking 250 200 156 144 SCOTT LANE FRONT STREET WEST 70 Sony Centre WALTON STREET LOWER SHERBOURNE STREET
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Future Subway Office Private/Public Institution Hotel New Development Parking PATH Submarkets Streetcar Existing www.cbre.ca/lsg www.cbre.ca This map was produced using data from private and government sources deemed reliable. The information herein is provided without representation or warranty. This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained CBRE LimitedLimited fromThis third disclaimer parties (theshall “Information”) apply to CBRE has notLimited, been verified Real Estate by CBRE, Brokerage, and CBRE anddoes to not all represent, other divisions warrant of or theguarantee Corporation the accuracy, (“CBRE”). correctness The information and completeness set out of herein, the Information. including, CBRE without does limitation, not accept anyor assume projections, any responsibility images, opinions, or liability, assumptions direct or consequential, and estimates for the obtained Information from or thethird recipient’s parties 2001145 Sheppard King Street Avenue West, East, Suite Suite 600 300 reliance(the “Information”) upon the Information. has not Thebeen recipient verified of bythe CBRE, Information and shouldCBRE take does such not steps represent, as the recipient warrant may or guaranteedeem necessary the accuracy, to verify the correctness Information priorand completenessto placing any reliance of the Information.upon the Information. CBRE doesThe Information not accept may or assumechange and any any responsibility property described or liability, in the direct Information or consequential, may be withdrawn for the from Information the market Toronto ON M2J 4Z8 ator any the time recipient’s without notice reliance or obligation upon the to Information. the recipient Thefrom recipientCBRE. CBRE of theand Information the CBRE logo should are the take service such marks steps of asCBRE the Limited recipient and/or may its deem affiliated necessary or related to companies verify the in Information other countries. prior All to other placing marks any displayed reliance on upon this document the Information. are the property The Information of their respective may change owners. and All anyRights property Reserved. described Mapping Toronto, ON M5H 1J8 Sources:in the Information Canadian Mapping may be Services withdrawn [email protected] from the market at any
Mike Czestochowski** Pat Viele* Lauren Doughty* Ian Hunt* Senior Vice President Senior Vice President Sales Associate Sales Associate [email protected] [email protected] [email protected] [email protected] T 416.495.6257 T 416.495.6258 T 416.495.6223 T 416.495.6268