Company description
Greenland Group Canada's second development in Toronto will be at 215 Lake Shore Boulevard East at Lower Sherbourne Street called Lakeside Condos. Hariri Pontarini Architects have won a competition to design the complex. Lakeside Condos phase one includes a 39-storey tower, plus a 49-storey tower with a 14-storey building along Lake Shore Boulevard. Lakeside Condos is a new condominium development by Greenland Group currently in pre-construction located at 215 Lake Shore Boulevard East, Toronto in the Waterfront neighbourhood with a 93/100 walk score and a 100/100 transit score.
Lakeside Condos is designed by Hariri Pontarini Architects. The project is 49 storeys tall and has a total of 1148 suites. Greenland Group Canada recently announced plans to bring a major new residential development to Toronto’s rapidly modernizing East Bayfront district. Artist’s conceptions of the proposed development show a pair of gleaming high-rise condominiums that will occupy 215 Lake Shore Blvd East Condos, formerly the site of a FedEx warehouse. Greenland confirmed the project at a gala event held in May, 2017 in celebration of the company’s third anniversary.
Few details about the project were released by Greenland Group Canada at the event, as company representatives noted that the 215 Lake Shore Blvd East Condos development is still in its very early stages. Official architectural plans have not yet been finalized, and Greenland added that it has a significant amount of work ahead before a final design can be submitted to city officials for zoning and planning approval. The expected Platinum Access release date is Mid to late October 2017.
However, the details that were confirmed point to an exciting new East Bayfront residential space. Conceptual designs, which were created by the renowned firm Hariri Pontarini Architects, were inspired by the smooth curves of the sailboats that regularly dock on Toronto’s waterfront. The 215 Lake Shore site will be within easy walking distance of Toronto’s scenic harbour, which is about one and a half blocks south of the site.
215 Lake Shore Condos will be Greenland Group Canada's Second Residential Project in Toronto
Artist’s conceptions of the 215 Lake Shore Blvd East Condos site confirm Greenland Group Canada’s intent to develop a high-density dual-tower project. The development’s east tower will have 49 storeys, and the shorter west tower will have 39 storeys. The west tower will also include low-rise and mid-rise elements, as well as a limited number of townhouses. No estimates regarding the total number of units, or their floorplans, have yet been released.
In October, 2016, real estate media outlets reported that Greenland Group Canada paid approximately $166 million for the site. This translates to approximately $115 per buildable square foot of property. The $166 million sale price is believed to be one of the largest dollar-for- dollar condominium development site sales in Toronto’s history. Industry insiders note that the massive scale of the transaction indicates Greenland Group Canada’s intention to build a flagship project that will become a major East Bayfront landmark.
West of the site, across Richardson Street, the brand-new Daniels Waterfront mixed-use development is currently under construction. Greenland Group Canada’s 215 Lake Shore Boulevard East residential towers will add further appeal to the fast-changing neighbourhood, which is quickly becoming one of the hottest places to live in Toronto’s downtown core.
Discover Toronto's East Bayfront
In the past, Toronto’s East Bayfront neighbourhood was an industrial area, home to commercial manufacturing, distribution, storage, and shipping facilities. However, the area has benefitted in a big way from a dramatic recent transformation, which has seen the precinct quickly evolve towards residential and mixed-use spaces. In the past few years, this conversion has accelerated at a very rapid rate, giving an exciting and dynamic facelift to what was once considered among the most underdeveloped parts of the city.
East Bayfront occupies an expanse of land on Toronto Harbour, south of the Gardiner Expressway between the Jarvis Street and Parliament Street slips. In addition to the scenic and quaint Sugar Beach development, a new park named Sherbourne Commons has also recently been completed. These projects add some welcome green space to complement the beautiful harbour and lakefront scenery that helped attract residential development to the area in the first place. Pedestrian pathways will connect 215 Lake Shore Condos to the adjacent neighbourhood, including the Daniels Waterfront mixed- use commercial and artistic space and the Sherbourne Commons park.
Downtown Toronto’s financial and entertainment districts are within walking distance of East Bayfront, and major pieces of transit infrastructure including Union Station and the Gardiner Expressway are very close by. The TTC has announced plans to launch streetcar service in the East Bayfront district, and city officials are also reportedly pondering proposals that would introduce light rail service along Queens Quay to Parliament Street.
