This application proposes to amend the Zoning By-law for the lands at 2444 Eglinton Avenue East to permit the construction of a mixed use building consisting of 3 towers above a base building containing above grade parking and non-residential uses at grade. The development would include a 31-storey condominium building above a 4 storey podium, along with two co-op buildings of 19 and 41-storeys atop a 5-storey podium. The two co-op buildings consist of 612 co-op housing units and the condominium building consists of 307 units. The tenure of the units includes, market condominium units (307), market co-op units (306) and affordable co-op units (306). The total gross floor area of the proposal is 64,143 square metres, inclusive of 1871 square meters of non-residential uses. The proposed development is consistent with the Provincial Policy Statement (2020) and conforms with A Place to Grow: Growth Plan for the Greater Golden Horseshoe (2020). The proposed development also conforms to the City's Official Plan. The development is part of the City’s Housing Now Initiative to deliver affordable housing and mixed-income, mixed-use, transit-oriented communities on City-owned properties. This proposed development intensifies an underutilized site with a range of housing options in terms of tenure and affordability, while providing a mix of at-grade non-residential uses that will support and enhance the public realm. It is immediately adjacent to a multi-modal transit station with convenient connections to multiple transit lines and surface transit routes. This report recommends approval of the application to amend the Zoning By-law subject to a Holding Provision required to address servicing matters.
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