Another downtown commercial building may be facing a bulldozer soon.
Yellowstone Property Consultants Corp. has listed 984 Bay St. for sale. Why does this interest us? Well, that specific pocket of Toronto has become a go-to area for builders in recent years. So, when news leaks out that a site is for sale, we definitely take notice.
984 Bay St. is a 0.138 acre site, which sits 100 feet deep and has a frontage of 60 feet. It’s an interesting plot of land that could handle a moderately sized tower with some re-zoning.
To this point, it’s unknown if the potential buyer will maintain the building and maximize its profit or simply demolish it and apply for a new development, however if you were to examine the history of most land transactions over the past few months in the City of Toronto, it would be fair to expect some residential density on the site.
As previously mentioned, the Bay/Bloor pocket of Toronto has been on fire with developments in the past few years. To the north on Bay St., U Condos Phase 1 is beginning to rise, while phase 2 is set to debut, and construction at Five Condos is well underway to the east. Also, we recently blogged about 990 Bay St., which will be launching as 1000 Bay St. Condos very soon.
This site is definitely one to keep your eye on. Stay tuned to the Toronto Star’s NewInHomes.com for the latest news on this location.
