TORONTO – Located immediately south of Toronto’s historic Distillery District, the waterfront property at 351-369 Lakeshore Boulevard East will soon receive an ambitious mixed-use overhaul, following the plot’s recent acquisition by the GTA-based builders Great Gulf and Dream.
Stretching out across 5.3 acres and 230,245 square feet, the acquired property extends from Lakeshore Boulevard East in the north to Lake Ontario in the south. It is bounded on the west and east by 333 Lake Shore Boulevard East and the 3C Lands, respectively.
The parcel is without a doubt one of the most valuable – and convenient – of those situated along Toronto’s waterfront. It is also one of the most recognizable, due to towering presence of the Victory Soya Mills Silos, a connected set of now-defunct grain receptacles that have occupied the site for more than 70 years.
Since the silos were listed as a Toronto Heritage Property in 2004, they will have to be included and incorporated into the redevelopment, via either adaptive use or rehabilitation. That challenge, however, is one that the developers are confident will “add to the uniqueness” of the new community.
“We targeted this area because we believe that this unique and desirable location will become the hub of future development,” said Great Gulf President Christopher Wein in a press release issued November 14.
“The combined experience and extensive knowledge our two groups bring to this project will create an enviable addition to Toronto’s burgeoning East Bayfront Precinct.”
The developers add that, by the time it is complete, the development will be bisected by a planned extension of Queen’s Quay East to Cherry Street – which the City of Toronto plans to eventually equip with LRT service in a dedicated lane.
While specifics have not yet been released as to which purposes the development will serve, or which home types will be available, stay connected with us on our news site – or join us on social media – for the newest updates on this and many other developing stories.