Panda project was delayed temporarily yesterday so I went on site and also did an analysis of that block to show where it is (red) in relation to other buildings. No view is immune to development in the downtown core and I didn’t even include the Chelsea hotel or the Aura condo just north of Gerrard St. If there is commercial low rise, developers will eventually buy it up and build a high rise with commercial on the ground floor. Owning a unit here is not about for the view but for the return.
The storeys indicated are approximate give or take a floor and vary between ceiling height. Panda will be 35 storeys and you could pay a premium to be higher than a building but it won’t be guaranteed to be unobstructed indefintely. The rent in downtown Toronto has shown significant increase with an avg last month of $1950 / month for a 1br in the DT core. I’ve also seen some 1br units leased out around $2500 / month. Rent will continue to go up as developers are trying to keep up with the demand.
The areas in green are *potential* future development meaning there is no permit in place to build yet and may not be for years to come. But if there is a dollar amount to a building, developers will have an eye on it and may submit requests in the future. Unless they are designated heritage buildings, they can be taken down, rezoned and rebuilt. Even on the NW corner of Yonge / Elm St. and NW of Edward / Bay St will eventually be potential future developments as well. At the rate Toronto is growing, commercial low rise will be rebuilt to mixed use highrise. The Panda project is unique in that it will set the precedence for this area.