New Development Preview 297 College Street Located at College and Spadina

January 27 / 2012

Alex J. Wilson does a new development preview of 297 College Street which is currently the location of the Zen Buddhist Temple. Due to increased density of the area and the Monks search for enlightment they felt they should seek a location which would be better suited for this. This has led to the sale of the property to Tribute Communities. The proposed site calls for a 15 storey condo tower with 20,000 sqr. ft. of ground level commercial space. It is rumoured that this space will be used for a new Loblaws location. This would not be the first time that Loblaws and Tribute Communities have partnered together. Tributes most recently completed project Queen & Portland Lofts and Condominiums has three levels of commerical space with condo units on top. The commercial space contains a Loblaws, Winners, BMO and Joe Fresh.

As for the location it is ideally set in between Spadina and Bathurst along college. It borders little Italy to the East, U of T to the West and Kennsington market to the south. There are not many options for condo units in this area which makes this boutique building attractive to both investors, as it close to U of T, and end users that enjoy the area. Sitting on the college street car line and only minutes away from the spadina street car it makes it very easy to get around the city.

The building is not without controversy. Kensington has been able to fight off development in the past but with the scarcity of land and increased development of the city it was only a matter of time before they would have to share the space with a condo. To learn about how the residents of Kensington Market feel about the new use of the land check out the article in The Grid TO .

For a map of what is in the area chick here.

For all your buying, selling, development and leasing needs in Toronto Real Estate send me an email contact@alexjwilson.com or call me at 416 996 5181.