We recently reported that the city of Toronto was looking to transfer a number of properties to Build Toronto, its real estate partner that sells and markets land on behalf of the city.

1978 Lakeshore, among many of the developments that were listed, is now on the market.

The plot of land is approximately 0.4 acres in size, and located in the Mystic Point area of Toronto, which is booming lately with high-rise developments by Camrost-Felcorp, Amexon Development and The Onni Group.

1978 Lakeshore Blvd. has been designated as mixed use under the official plan, which allows for sever residential and commercial uses. The site is also zoned as ‘CR T2.0 R1.0’, allowing for both Residential and Commercial uses, with a height restriction at 14 stories. Build Toronto is currently working with the city to rezone the site for greater density and height.

It is also worth noting that Build Toronto is looking to increase the plot, incorporating land from the west, into the deal. It is unknown currently as to who the owner of that land would be. The site is currently sitting vacant, with unobstructed views of the lake and over a hundred feet of frontage.

To read more about the development, click here.

There’s an important question worth reflecting upon. What will we build here? Is the site big enough to hold a tower that is nearly 20-storeys high, with 200 plus units? Who would you like to see purchase the site?

Be sure to comment below.