A major downtown development site has changed hands.Urbanation is reporting, via their Twitter feed, that the Pemberton Group has purchased 177 – 197 Front St. East from Metropia Urban Landscapes.177 – 197 Front St. East is one of the last major undeveloped parcels of land in the City of Toronto. It is bordered by Front St. East at the north, Princess St. to the east, Lower Sherbourne St. to the west, and The Esplanade at the south.Although there are currently no plans submitted to the city, the site, which is currently shared by a car dealership and a Sobeys grocery store, is one that could hold a significant density. With mostly commercial buildings to the north and mid-rise apartments to the south, we doubt that there will be any issues with the heights that Pemberton might propose for the expansive site. We estimate a possibility of three or four towers ranging from 35 to 50 storeys, featuring some significant retail at grade, with perhaps an office component as part of a shared podium.
Pemberton Group has over 50 years of experience in residential and commercial real estate. They focus on design creativity, as well as superb craftsmanship. Their current high-rise portfolio includes U Condominiums in Yorkville, The Uptown Residences at Yonge and Bloor, and Bravo in North York.
We will have more on the future of this site as it becomes available.
What are your thoughts about a potential development at 177 Front St. E.?
What would you want to see from a design standpoint?
