Commercial Property: 34-50 King Street East
2 min read
The plans for a new mixed-use development at 34-50 King Street East and 2 Toronto Street have recently been adjusted. Originally proposed in 2016, the plan for the 33-storey tower has shifted its focus from office space to residential and commercial space.
Developer Larco Investments is now seeking approval to replace the office space with 8,836 square metres of hotel suites alongside 1,317 square metres of commercial and retail space. The revised plan includes 142 new hotel suites as an addition to the 216 condominium units originally planned. The new development will complement the existing heritage building, the Quebec Bank Building, to preserve its rich history.
Situated in a prime area of Downtown Toronto, this development earns a walk score of 98 and a transit score of 100, providing convenient access to Toronto’s transit system and nearby attractions. This development is located in the heart of Downtown Toronto, offering an abundance of amenities nearby, including restaurants, cafes, parks, entertainment, and nightlife.
The redirection of 34-50 King Street East from office space to residential and commercial space reflects a broader transformation of Downtown Toronto into a mixed-use space to work, live and play.
References
Landau, J. (2024, August 15). A new hotel is in the works for downtown Toronto. blogTO. https://www.blogto.com/real-estate-toronto/2024/08/34-50-king-street-east-toronto/
UrbanToronto. (n.d.). 34-50 king east: Urbantoronto. News. https://urbantoronto.ca/database/projects/34-50-king-east.21220
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