Is this the look for another new condo for Yonge Street? Fitzrovia Capital Inc. released plans at the end of 2017 that show a block-form tower at 10 Wellesley Street of 65 stories with 466 residential units, 419 bicycle parking spaces and 47 vehicle parking spaces (but no plans for electric vehicle charging stations) at the north west corner of Yonge & Wellesley. The staggered rooftops mean that the building will cap off at different sections at floor levels 40, 54, 56, 57, 64 & 65 with a total proposed height of 199.7 metres.
Critics of the project complain that the massing is too heavy and clunky, with the blocks piled up for seemingly no particular reason. Worry over the quality of the materials has also been expressed, potentially making the tower appear “cheap” when viewed at ground level at close range. There are a number of condos along the Bay/Yonge corridor that have suffered from this, in an attempt for builders to create cost-effective projects, without the expressed desire to be particularly world-class in the quality of construction.
Interestingly, the breakdown for the bedrooms is currently set at 60% 1-bedrooms, 30% 2-bedrooms and 10% 3-bedrooms. Will 40% of the building as “family-sized” units be enough for the growing family demand downtown? There will no doubt be interest from students and young professionals for this location, being close to both the University of Toronto and Ryerson University, as well as the Hospital District and Wellesley Subway Station, but the City is working towards making the core more family friendly, and it will be hard to do this with potentially tiny (think 650 or 700 sq.ft. two bedroom units) or a limited supply of three bedroom units in the neighbourhood.
With the project up for City Staff review this week, we’ll soon know whether we’ll be seeing something like this appear on the corner of Yonge & Wellesley in the coming years, or whether a major project revision will be in order. The density is certainly something to consider as the site isn’t very big, and the shadow effect on the neighbourhood, particularly on Dr. Lillian McGregor Park across the street, should be considered. Though with the growing density and heights of towers in the neighbourhood, maybe people should only consider high noon to be the only time of day to see sunlight in any downtown park!