One of Toronto’s most underdeveloped stretches of waterfront real estate is undergoing a major facelift.
In 2015, real estate investment firm Hines and property developer Tridel began construction on a $910 million project called Bayside. Its vision was to turn the derelict 13-acre strip between Lower Sherbourne Street to the west and Parliament Street to the east, and Lake Ontario to the south, into a vibrant community.
Bayside is the largest plot of the East Bayfront community, which is part of Waterfront Toronto’s 25-year master mandate to revitalize 800 hectares of lakeshore property.
The development will be comprised of four condos: the soon to be finished Aqualina, the currently under construction Aquavista, the pre-construction Aquabella, which just wrapped up sales, and the recently unveiled The Waves.
The Waves is a collaboration between Tridel and Danish architect firm 3XN, who released renderings of the serpentine structure late last week.
The Waves features two peaks at 19 and 16 storeys with a forward-thinking tiered terrace alignment that prevents the closed-off urban canyon effect observed in many downtown developments. A side benefit is that such a design reduces the impact of wind tunnels, which will be especially appreciated in the winter months.
The building is currently in the proposal phase and will wind through various planning processes in the months to come.
The first building of Bayside, Aqualina, registers 13 storeys and is marked by a large “cube” and suites boasting unparalleled views of the lake and skyline.
The second building, Aquavista, is less architecturally impressive but scores big on its open facade facing the waterfront. A hotel’s worth of amenities complement the 13-storey building, which is expected to be complete next year.
The third building of the quartet, Aquabella, is awaiting construction and is also pretty neat. While it doesn’t wow, it certainly fits its surroundings. The golden ticket, of course, is snapping up one of the lakefront terraces.
Bayside promises to be Ontario’s first LEED® Gold certified neighbourhood and will apparently offer Internet speeds up to 100 times faster than generally available to residents in other parts of the city.
Isn’t it nice to read about new condos without groaning and sighing?