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    For Sale - 464-468 Winona Drive, Toronto, Ontario

    Est payment $141,651/mo
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    Views   2
    Time on Jump  255 day

    AI Summary *

    • Rare development opportunity in Midtown Toronto between Humewood and Cedarvale neighborhoods.
    • Site plan approved for 200-unit, 11-story rental project with fast approval potential.
    • Land appraised at approximately $25 million, reflecting high value for rental development.
    • Strong municipal support for new rental supply in a high-demand market.
    • Expected project value over $100 million with significant annual rental income.




    An exceptionally rare opportunity to acquire a premier development site in the heart of midtown toronto between humewood and cedarvale neighborhoods -one of the city's strongest and most resilient rental markets. The listing price includes site plan approval (spa) for the proposed 200-unit, 11-story rental development. Pac meetings' feedback and prepared application package suggest a short approval period. All seller's obligations related to spa delivery will be detailed in the agreement of purchase and sale. Offers may be made conditional on these final approvals, giving developers valuable certainty as the project moves toward completion of the planning process. Two independent appraisals have valued the land at about $25 million without approvals, reflecting its true highest and best use as a large-scale rental development. The proposed building aligns perfectly with cmhc's mli select program. The completed asset is expected to exceed $100 million in value with projected annual rental income of more than $5,500,000. Situated in a prime midtown location surrounded by established high-demand rental buildings, the site benefits from strong municipal support for rental intensification as toronto prioritizes new rental supply. The previously approved townhouse plan is no longer the highest and best use of the land, which is now optimized for a transformative multi-residential project. With near-zero vacancy in the area and robust demand for high-quality rental housing, this is a rare chance for forward-thinking developers to deliver a flagship rental asset in one of toronto's most coveted neighbourhoods.
    Listing IDC12554262
    Address464-468 Winona Drive
    CityToronto, Ontario
    Price$29,499,000
    StyleVacant Land
    TypeVacant Land
    StatusFor Sale

    Subtype Vacant LandAmenities Park, Public Transit, School, School Bus RouteOwnership FreeholdWaterfront NoneSewer Sewer

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    Listing Agency:  FOREST HILL REAL ESTATE INC.

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    464-468 Winona Drive
    Toronto , Ontario
    $29,499,000
    Get more info