464-468 Winona Drive Toronto, Ontario M6C 3T7
$29,499,000
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. (id:50886)
Property Details
| MLS® Number | C12554262 |
| Property Type | Vacant Land |
| Community Name | Oakwood Village |
| Amenities Near By | Park, Public Transit, Schools |
| Community Features | School Bus |
Building
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Park, Public Transit, Schools |
| Sewer | Sanitary Sewer |
| Size Depth | 303 Ft |
| Size Frontage | 71 Ft |
| Size Irregular | 71 X 303 Ft |
| Size Total Text | 71 X 303 Ft |
Utilities
| Cable | Available |
| Electricity | Available |
| Sewer | Available |
Contact Us
Contact us for more information
Richard Isaac Himelfarb
Salesperson
www.foresthill.com/
www.facebook.com/rhimelfarb
ca.linkedin.com/pub/richard-himelfarb/40/b97/561/
28a Hazelton Avenue
Toronto, Ontario M5R 2E2
(416) 975-5588
(416) 975-8599
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
November 18 2025 04:40:57
Toronto Regional Real Estate Board
Forest Hill Real Estate Inc.