There is plenty of construction in the works for the section of Yonge Street between Dundas and Bloor, with Five Condos having been one of the first buildings along that stretch to make its mark several years ago when it was first launched.
One of the newest proposals takes over the space where the existing Eaton Chelsea hotel is located by placing a grouping of four new condo towers on the site. Consisting of 46, 50, 74 and 80 stories, the proposal will include approximately 1900 residential units along with 300 hotel units as well.
This is directly across the street from the already existing 79 story Aura Condo that set the precedent for height downtown with the label of Canada’s tallest residential condo when it was completed.
On the south east corner of Yonge & Gerrard are two other proposed towers in the range of 62 and 73 stories that will be linked with an impressive golden sky bridge near the top.
Further up Yonge Street are the under-construction towers of Karma Condos & YC Condos, and then continuing north takes you to Totem Condos, Tea House Condos, the un-named project at 484-494 Yonge Street, Wellesley on the Park Condos, Vox Condos, The Clover on Yonge, One Bloor and a speckling of other projects that are probably still so underground in the development stages that they haven’t been released yet.
All of this is to say that Yonge Street is the next Bay Street: Just 10 years ago, Bay street was littered with surface parking lots but then underwent a building boom that totally changed the face of the area. Likewise, Yonge Street is the next strip of land that will see the same intensity of development, which will simultaneously alter the retail landscape as well, as a result of the changing demographics in the neighbourhood.
Five Condos is clearly on the cutting edge. Those who bought from the builder years ago can see this already, and those who will be purchasing soon will still be able to see dramatic changes in the coming years.