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1 Eglinton Square Condos
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This project is a mixed-use community slated for the corner of Eglinton Avenue East and Victoria Park Avenue, close to the Victoria Village neighbourhood of Scarborough.
Developed by KingSett Capital, 1 Eglinton Square Condos is currently in the pre-construction phase, with an estimated completion date of 2021.
The site backs onto a small park, just southeast of the Eglinton and Victoria Park intersection. Comprising 18.56 acres in total, it’s currently the site of a shopping plaza, surface parking lots and a series of low-rise rental apartments.
It joins a series of underutilized shopping centres across the GTA that are being transformed into vibrant communities featuring new residential, retail and office space.
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For this exciting development, KingSett Capital and their design partner, Quadrangle Architects, plan to leave the mall as it is, while dividing the surrounding portions into five blocks.
With the mall acting as a community anchor, the blocks will share five mixed-use towers ranging from 25 to 40 storeys, along with a selection of 112 stacked townhomes, each reaching 4 storeys. A new private road is proposed for the community as well.
Blocks A, B and C are closer to the north part of the site and will feature mixed-use towers containing residential, office and retail space, each with three levels of underground parking. Block A will add 696 new units, with Block B adding 304 and Block C adding 495. Block A will also feature a modern, public plaza, which will make a great spot to socialize with friends, neighbours or colleagues.
Blocks D and E will sit farther south on the site and share an underground parking garage, with block D featuring two residential mid-rise buildings that house 207 units and Block E featuring the townhomes.
The tallest buildings will be situated in block A - which is the northernmost block - and continuously descend in height along Victoria Park and Pharmacy Avenues. In total, the development will include 852 one-bedroom units, 629 two-bedroom units and 159 three-bedroom units. 2,606 parking spots are planned, with 1,317 of those reserved for residents.
So far, Quadrangle’s renderings show a series of contemporary and artful buildings that will add value to the neighbourhood and incorporate all the conveniences and luxuries of modern condominium living.
Location & Neighbourhood
We’re excited about this new condo project because it sits within the city’s “Golden Mile Focus Area,” a portion of Eglinton Avenue where substantial growth is expected and being planned by the city. The surrounding area is expected to have over 12,000 new residential units and new jobs in the next 30 or 50 years.
Areas like this that are poised for major growth make excellent investment opportunities, especially if you can purchase real estate while it’s still somewhat of a developing neighbourhood.
A big portion of this growth is due to anticipation of the Eglinton Crosstown LRT, which is expected to be up-and-running within a few years. This rapid transit system will connect Scarborough to other parts of the city like never before. A pair of LRT stations will be located at both northern corners of the development site, which is a great perk and will help accommodate the new residential density added by the development.
We also love the idea of investing in mixed-use communities like this project. Largely considered to be the housing style of the future, these are vibrant and desirable places to live that will be in high demand. They’re transit and pedestrian-friendly pockets with a wide range of housing styles that make it possible to live, work and play in the same area.
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1 Eglinton Square Condo Developer
KingSett Capital is Canada’s leading private equity real estate investment firm. They pride themselves on delivering premium returns to their investors and have helped develop several urban mixed-use and residential projects in Toronto.
Read more about KingSett Capital.
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