Elysium Investments Inc. announced that it has secured approval from the Toronto City Council to proceed with a 36-story rental housing development in Toronto’s Bayview-Eglinton neighborhood.
The development will provide 339 rental homes, including 83 two-bedroom and 52 three-bedroom suites; 40% of the units will contain two or more bedrooms. The approval follows a refinement of the original proposal, with Elysium reducing the tower from 39 to 36 stories, reshaping the upper-floor massing to improve its relationship with neighboring properties and relocating pick-up and drop-off activity underground to preserve a pedestrian-focused Glenavy Avenue frontage.
The application was submitted in August 2024. Elysium will now advance the remaining site plan, technical and pre-construction work ahead of construction mobilization. Timing details will be announced as the project progresses.
“We do not measure good development by height alone,” said Sayf Hassan, CEO of Elysium Investments. “We measure it by the quality of the homes, the strength of the design and how carefully the building responds to the neighborhood around it. Glenavy delivers on all three.”
0 Comments