Weston & Lawrence Redevelopment Site For Sale
1.5 min read
Attention all developers! A 0.95-acre commercial property with multifamily redevelopment potential has just hit the market and is looking for a suitable investor. Located in Toronto’s Weston Village community at the corner of John St and South Station St, this development boasts some of the city’s most sought-after amenities, including easy access to public transit, national and local retailers, nature trails and more.
Elliot Medoff, Executive Vice-President of JLL Capital Markets Group, stated, “In 2013, the Weston GO/UP Express station was opened, bringing new residential demand for residents seeking connectivity to the downtown core in an area with moderate end-unit pricing. In turn, land values and the urban planning landscape have evolved favourably, which prompted this sale. The site is presently unzoned; however, our planning consultants, Urban Strategies, have presented a range of development scenarios that contemplate a 30-storey tower with varied podium heights.”
Medoff and sales associate Nick Steele are the JLL Capital Markets Advisory team leads handling the file. Currently occupied by eight tenants, the property can provide significant holding income to offset carrying costs during the entitlements process if the investor seeks to redevelop the land. Vacant possession can also take place in September of 2022.
Learn more about this potential redevelopment site for sale in the heart of Toronto.
Reference
McLean, S. (2021, July 29). Potential west-end Toronto redevelopment site for sale [web log]. https://renx.ca/potential-weston-redevelopment-site-toronto-for-sale/.
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