16-26 Coburn Ave, Toronto, Ontario, M4K 2E7

Description

Approved high-density redevelopment assembly with in-place multifamily income in East York's Broadview North neighbourhood. Three adjacent parcels at 16, 20 & 26 Cosburn Ave., totaling approx. 23,203 SF (0.53 acres) with 186 ft of frontage. Zoning by-law Amendment approved for a 25-storey (80.93 m) apartment builidng with 211,284 SF of FGA, including indoor amenity space. The current plan includes 299 units (38 bachelor, 153 one-bed, 76 two-bed, 32 three-bed; mix is flexible) and 29 parking spaces. Site Plan Application deemed complete September 2022, with a second resubmission made December 2024; a buyer may assume and finalize the application. Rental Housing Demolition approved by City Council in July 2023, subject to a Section 111 Agreement requiring 30 replacement rental units (27 affordable, 3 mid-range). The site is currently improved with a 3-storey, 30-unit apartment building (20 Cosburn), approx. 90% occupied, and two vacant detached homes (16 & 26 Cosburn), providing holding income and lease-up upside during pre-development. Located witin an MTSA, approx. a 6-minute walk to the future Ontario Line Cosburn Station, with TTC bus service to Broadview and Pape stations steps away. Cloe to the DAnforth, Pape Ave. shops and the Don Valley trail systems.