Gairloch adds high-rise building project to Toronto’s development list | RENX

IMAGE: Leaside Common is a nine-story, 198-unit, BDP Quadrangle-designed apartment and townhouse project along Bayview Ave.  Gairloch is collaborating with Harlo Capital on the development.  (Courtesy Gairloch)

Leaside Common is a nine-story, 198-unit, BDP Quadrangle-designed apartment and townhouse project along Bayview Ave. Gairloch is collaborating with Harlo Capital on the development. (Courtesy Gairloch)

Gairloch Developments has made its reputation for building mid-rise condominiums, but a proposed 34-story tower in Toronto’s Mount Dennis area will be its first solo high-rise.

“It’s part of our core business strategy to diversify the product range and make more forms of high-density development,” Gairloch senior vice president Andrew Woods told RENX. “It’s not much different from many of the places we’ve looked at over the years. It’s only the first one we’ve shopped at.

“Part of our whole acquisition strategy is that we tend to see a wealth of volume with opportunities, and we’re very critical of what we move forward with based on a long set of parameters that these sites have to meet. was one that we decided to continue with. “

Development site at 15-23 Hollis St. will be close to a major transit hub with the Toronto Transit Commission, Union Pearson Express and GO Transit stop, a key factor that attracted Gairloch.

“Mount Dennis appears to be one of the most dynamic and forward-thinking neighborhoods in the city, primarily driven by development, chasing places close to transit,” Woods said. “We’ve already seen some of it along the Eglinton LRT.”

The proposed development of 365 units undergoes the justification process with the city of Toronto. architectsAlliance, which designed Gairloch and Centrestone Urban Developments Inc.’s completed 383 Sorauren and Junction Point projects, leads the project team.

Woods hopes to launch the sale in late 2022 or early 2023 and to pave the way by mid-2023.

Dundas West and Junction developments

Junction Point is an eight-story, 111-unit condominium development at 2625 Dundas St. W. and Toronto. The amount of unsold furniture is small, a crane will be erected shortly, and occupancy in the fourth quarter of 2023 is targeted.

“At the time of the takeover, it was not necessarily an area where people were knocking on the door to acquire sites to remodel, but over the last three or four years, things have really gotten better,” Woods said.

“The approach we take with many of these acquisitions, and what has led to a lot of opportunities, is that we are so involved and practical in the management of our projects.

“When you are rooted in society and you make community engagement and you talk to stakeholders, a lot of opportunities seem to emerge. We’ve seen a lot of other options in The Junction that have emerged as a result of it, the other being 3200 Dundas, just across the Keele. “

Gairloch has been working through the justification process since the middle of last year on 3200 Dundas, where he has gone back and forth with the city. It has proposed an eight-storey condominium with 89 units designed by BDP Quadrangle.

The Toronto-based developer has also put together a site at 3239 and 3251 Dundas St. W., but has not yet submitted any development applications to the city.

“Collections always take a long time,” Woods said. “You look at at least a year, from the time you start talking to some of those people, to the point where you close.”

1650 Dupont Street Condos

Gairloch Developments has primarily used reinforced concrete, but the company has been interested in making cross-laminated wood construction and will use it for the six-story, 30-unit, Gabriel Fain Architects-designed 1650 Dupont Street Condos.

“This product is in line with our overall business goal of delivering the mid-range product needed to the market faster, in addition to diversifying our product offering,” said Woods.

“It is something that can be repeated throughout the city and done in a very effective way. It’s something that can get pretty much faster, built much faster and brought to market in an accelerated way. “

The plan is to launch the sale early in Q2 2022, pave the way during the summer and be ready for occupancy a year later.

Other Gairloch developments

Gairloch is well on its way to selling 1414 Bayview following the launch in the early part of the pandemic. The excavation will begin on the eight-story, 44-unit, architects-alliance-designed condominium, which will also have 13 rented replacement units. Occupancy is targeted for Q4 2023.

“Some of the local downsizers have seen this project as really appealing,” Woods said. “They’ve really resonated with the design of it and the fact that it’s a medium-sized boutique building.”

Leaside Common is a nine-story, 198-unit, BDP Quadrangle-designed apartment and townhouse project at 1720 Bayview Ave. that Gairloch is partnering with Harlo Capital on. It will offer easy access to the future Leaside stop on the Eglinton Crosstown light rail transit line.

Woods said Leaside has lots of appealing aspects, but consists mostly of single-family homes – with few apartments built and not many in the pipeline.

“We had to put together a lot of properties and for a while we weren’t so sure it would come together,” Woods said of putting together the development site.

About 2,000 people have signed up for the project, and Gairloch is in the process of setting up agreements for the start of the new year, when the Leaside Common sales center is scheduled to open.

Gairloch is partnering with Harlo and KingSett Capital on a 29-39 Pleasant Blvd. project where a 220,000-square-foot condominium plus has been proposed.

Woods said there will likely be updates next year as the approval process for the Giannone Petricone Associates-designed building is completed for the site just east of Yonge Street and south of St. John’s. Clair Avenue East.

Looking further ahead

“We’re typically very strategic and methodical when it comes to new acquisitions and how we manage our pipeline,” Woods said. “Currently, the company’s focus is on highly calculated execution of the projects we have.”

Building custom-built rental apartments is part of Gairloch’s long-term vision and another way to diversify its product, and Woods said the company is exploring options.

So far, however, none of the potential sites have met Gairloch’s criteria to continue.

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