After what seems like years without one, the property known as 42 Charles St. East finally has a name. Cresford has finally announced that 42 Charles St. East will soon be home to Casa Condominiums II, a sequel to its successful project at 33 Charles St. E.

Cresford purchased 42 Charles St. E., currently a YMCA building, back in December of 2010, looking to build a 58-storey tower that would contain more than 550 residential units, all on a four-storey podium. The development would also be home to 215 parking spots and 203 bicycle parking spots.

The storey of Casa II has been one of the most interesting developments in Toronto over the past 18 months. Rumors where all over social media and message boards, discussing what the future of the site could be, anything from another hotel and residence complex to a 100-storey condominium. Well, now the rumors can be put to bed.

We also have an initial look at Casa II. The architectsAlliance-designed building will offer some unique architecture on Charles Street East, updating the look at Casa. Another interesting aspect to this development is its location.

Years ago, Charles Street was a quiet secondary street in Toronto with a mix of low-rise retail and offices. It looked like most streets outside of the downtown core. Fast-forward to today, and Charles Street is arguably one of the fastest developing areas in the city.

With Bloor Street Neighbourhood and Casa from Cresford already completed, and other towers like 77 Charles well underway, the once sleepy street is now becoming a hot spot for developers in Toronto. It’s a perfect example of maximizing land use while also bringing cool architecture to the city!

Cresford is a company with a huge résumé of successful projects. From the completed Casa, Lofts 399 and NXT, to the soon-to-be-launched 1000 Bay Condos, they have a long history of successful projects in the downtown area.

What are your thoughts on the development of Charles Street? What impact do you see Casa II having on the area?

Comment below.