159 Wellesley St E Approved High Density Development Opportunity in Downtown Toronto SOLD LAND
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SOLD LAND SERVICES GROUP APPROVED HIGH DENSITY DEVELOPMENT OPPORTUNITY IN DOWNTOWN TORONTO APPROVED 159 WELLESLEY ST E 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 Lan34D 41 ServiceS grOuTheP Hazelton Four Seasons Hotel Toronto Hotel and Condo COLLIER STREET YORKVILLE AVENUE BELLAIR STREET 129 69 Toronto R 101 OSED 1235 Reference ALE VA 99 Library LLEY ROAD Yorkville 28 Plaza PRINCE ARTHUR AVENUE ASQUITH AVENUE 1233 Park 162 94 50 25 9 Hyatt CUMBERLAND STREET CBRE Limited | 2001 SheppardBEDFORD ROAD Ave E, Ste 300| Toronto, Ontario | T 416 494 0600 | www.cbre.ca/mclsg 1234 AVENUE ROAD AVENUE Toronto CRITCHLEY LANE Hudson’s Bay Centre MAYFAIR MEWS Marriott Manulife InterContinental Bloor/Yorkville Unilever Holiday Inn Hotel Building 200 250 Midtown 2 120 160 250 130 60 350 360 150 146 80 1200 2 252 244 170 180 BLOOR STATION SHERBOURNE STATION BAY STREET STATION YONGE STATION BLOOR STREET EAST ST. GEORGE STATION BLOOR STREET WEST SPADINA STATION 175 Bloor 131 101 89-91 121 321 365 157 151 77 55 One Bloor 55 69 CHURCH STREET Street East MIKE CZESTOCHOWSKI** East 33 North Tower University of Toronto Schools The Colonnade Rogers ST. THOMAS STREET ST. Manulife Centre Condos Xerox and Ontario College of Education Building 162 153 STREET BALMUTO and Retail Centre Windsor 175 Bloor JARVIS STREET JARVIS BAY STREET BAY ROYS SQ Street East Arms Grace ST. GEORGE STREET ST. South Tower Executive Vice President SULTAN STREET 1170 48 Hospital Victoria BPNICOL AVENUE BPNICOL HAYDEN STREET HURON STREET Varsity Village SELBY STREET Stadium 1140 DEVONSHIRE PLACE Varsity Royal Ontario MUSEUM STATION 625 Arena Museum 45 416 495WASHINGTON 6257 AVENUE 110 CHARLES STREET WEST Rogers LA SCALA LANE SCALA LA LINDEN STREET CHARLES STREET EAST Isabel Bader ST. NICHOLASST. STREET 675 Comfort Emanuel Theatre Hotel Town [email protected] College Downtown 661 Inn and Victoria Suites SUSSEX AVENUE College 10 ST. MARY STREET 698 90A 1075 Trinity College ISABELLA STREET Humanities YWCA Massey College INKERMAN STREET LAURENSPADINA AVENUE GLEN MORRIS WHITESTREET Research Library* St. Basil’s Roman Catholic Church IRWI N AVENUE ELMSLEY PLACE ELMSLEY SHERBOURNE STREET Senior Vice President HOSKIN AVENUE 615 St. Michael’s EARL PLACE EARL STREET College GLOUCESTER STREET HARBORD STREET Wycliff College TOWER ROAD QUEENS PARK CRESCENT WEST CRESCENT PARK QUEENS Queen’s Park 22 416 495 6223 North ST. JOSEP H STR WELLESLEY LANE EET MONTEITH STREET Zoology Ontario 593 14 Research Hart House WELLESLEY PLACE Foundation DUNDONALD STREET 519 ST. GEORGE STREET ST. CAWTHRA SQUARE S C AS I QUEENS CRESCENT PARK EAST 17 lauren.CLwhiteAVENUE @cbre.com 984 PHIPPS STREET CIRCLE E S WELLESLEY STATION WELLESLEY New College Sydney Smith U St. Joseph The Britt O School Residences Hall University H BAY STREET BAY College T Condo 40 R 60 56 24 A H WELLESLEY STREET EAST WELLESLEY STREET WEST WILLCOCKS STREET 31 65 460 Chemistry LE C IR Jarvis C 543 Collegiate E Queen’s Park G YONGE STREET The National Ontario Government 400 Buildings Ballet School Ontario Physics BANCROFT AVENUE Parliament 530 Knox College Building BREADALBANE STREET MAITLAND STREET MAITLAND PLACE GS COLLE DONNA SHAW LANE SHAW DONNA ALEXANDER PLACE ALEXANDER N I K HOMEWOODAVENUE TERRACE S MAITLAND P 60 880 YMCA A MUTUAL STREETMUTUAL D I N RUSSELL STREET Convocation Hall A C Queen’s Park R South GROSVENOR STREET E S D SURREY PLACE C GALBRAITH ROA Medical Sciences ALEXANDER STREET E N CHURCH STREET T Government Women’s Government HURON STREET College Church Street Addiction Research Hospital Public School Engineering Courtyard SubjecT SiTe: Clinical Institute MARIBETH AVENUE By Marriott University of Toronto Hotel Toronto Psychiatric 32 Hospital GRENVILLE STREET 441 Clarke WOOD159 STREET weLLeSLey STreeT e. Institute 85 Toronto Police Bantry COLLEGE STATION QUEENS PARK STATION QUEENS PARK Headquarters Best Carlton 455 Wallberg Building 80 76 Holiday Inn Institute 800 801 Towers Toronto 260 30 22 14 Toronto Downtown 2 Hydro Centre COLLEGE STREET COLLEGE STREET 14 243 229 67 101 203 149 790 777 21 L CARLTON STREET 101 A PLANTE MaRS GLASGOW STREET 27 Best Western ROSS STREET MaRS Phase 2 College Park HENRY STREET 220 Ontario Power Primrose Generation 661 AVENUE MCCLEAR PLACE 700 SHEARD STREET GRANBY STREET ORDE STREET Ramada 19 620 Plaza Hotel HORTICULTURAL AVENUE HORTICULTURAL Toronto General Hospital 60 Princess Margaret HAYTER STREET MCGILL STREET Cancer Centre 415 MU 720 Aura Condominiums *Sales Representative RRAY STREET 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 CHURCH STREET GLENHOLME PLACE Toronto Rehab - The Hospital for Sick Children The OKEEFE LANE YONGE STREET MUTUAL STREET University Centre ELIZABETH STREET Comfort Inn and independent contractors (“CBRE”). 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