Description
This new condo project, 39 Newcastle Street Condos is a pre-construction condominium development proposed by VANDYK Group of Companies for the Mimico neighbourhood of Etobicoke.
The site sits just east of Royal York Road and is steps north of the Mimico GO station. VANDYK’s proposal calls for a mixed-use development involving two high-rise buildings and a mid-rise element grounded by an expansive two-storey base. They’re calling for a 30-storey tower to occupy the southwest corner of the site and a 28-storey tower to occupy the northeast corner, fronting onto Newcastle Street. The first floor of the base will contain a series of retail shops, while the entire second floor will be occupied by a grocery store.
In total, the development will house 606 residential units, consisting of 48 one-bedroom layouts, 310 one-bedroom-plus-den, 115 two-bedroom, 70 two-bedroom-plus-den and 63 three-bedroom layouts.
13,358 square-feet of indoor amenity space is proposed, along with 17,233 square-feet of outdoor amenity space, which will be located on the top floor of the podium.
The development also calls for significant improvements to the public realm, including a two-way bike lane, planted trees and pedestrian walkways throughout the site. 983 parking spaces are also proposed, which will be housed in five levels of underground parking.
We’re expecting this new development to contribute significantly to the regeneration of the Mimico area. The neighbourhood is a great candidate for intensification, as its served well by municipal infrastructure, including public transit.
Thanks to its proximity to the Mimico GO station, the site is considered a “major transit area,” as defined by the province’s growth plan. Not only is the station itself undergoing a significant capital investment – which includes a platform renovation and addition of pedestrian tunnels to connect surrounding neighbourhoods – but with the province’s commitment to increasing train service, we’re expecting properties in surrounding areas to increase in value.
Location & Neighbourhood
Mimico has also been designated as a “regeneration” area, which makes property here a great investment. Though much of the neighbourhood is still occupied by industrial and creative warehouses, we’ve seen development proposals starting to pop up and the amount of vacant land in the surrounding area likely means we’ll see even more within the next few years. In addition, the Mimico Secondary Plan – a growth policy put in place by the city – has some improvements in the works that will improve pedestrian and cycling experiences in the area. These includes cycling and walking connections between Ourland Park and Grande Avenue Park, just northeast of the subject site. This shared trail will integrate landscape features and link existing parks and open spaces in the surrounding community.
Once the area has built up somewhat, this project will be a great destination for growing families and professionals who appreciate proximity to public transit. From the GO station, you can get to Toronto’s Union Station in fifteen minutes. A network of regional bus routes as well as easy access to Lakeshore Boulevard West make getting around a breeze, whatever your commuting style may be. Proximity to parks, schools and the waterfront are also great perks for the neighbourhood.
