A busy downtown Toronto intersection may soon have a new tower soaring above it with a shiny new TTC subway entrance down below.
Developer KingSett Capital is looking to revamp the southwest corner of College Street and University Avenue with a four-storey extension of the existing Ontario Power Building office tower and a new 56-storey residential tower behind it. The residential tower would bring a total of 475 units to the area.
Plans call for the redevelopment of the Ontario Power Building courtyard, which is where the current TTC entrance to Queen’s Park subway station is located. So, the developers will be constructing a new modern-looking entrance with a glass pavilion and escalator access.
The Ontario Power Building, which will be rising from 20 storeys to 24 storeys, would have a new glass-enclosed entryway built that matches the TTC entrance. The building’s entrance would also have a green roof, according to architectural plans filed with the City.
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The residential tower will go on a small triangular piece of land at the southwest corner of the property behind the office building. Of the 475 units planned for it, there would be 90 studios, 195 one-bedrooms, 138 two-bedrooms, and 52 three-bedrooms. There’d also be over 20,000 sq ft of residential amenity space, both indoors and outdoors.
With immediate access to both the subway and streetcars, anyone who lives or works here would have plenty of readily available transit options.
The plans are currently being reviewed by the City of Toronto and are awaiting approval before construction can begin on the downtown tower.