Description
There’s no question that this is about to become one of the hottest development areas in the GTA, and that includes this exciting new project.
Soaring at a magnificent 50 storeys, 55 Eglinton Ave East Condos is going to increase the density in this part of Yonge and Eglinton while also bringing new commercial retail space, as well as replacing the existing office space on the current site.
The intersection of Yonge and Eglinton is considered one of the best places to live in the entire GTA, and it’s about to get even better because of the incoming rail line that will revitalize the transit in the region.
A 50 storey tower will rise out of a 7 storey podium in the heart of Toronto’s next urban hub. It will have 4,305 square feet of retail space on the ground level, which will increase the shopping in the region, and provide convenient options for the future residents here.
Floors 2-6 will be allocated for office use, which will replace the existing office in the current building on the site. It will total 68,750 square feet of office space.
There will be amenity space on the 7th and 8th floors. This will include outdoor amenity space that will be on the 8th floor on top of the project’s podium.
There will be 444,195 square feet of residences in the remaining 42 floors of the tower. There will be a minimum of 30% of units allocated for two-bedroom and three-bedroom suites. This is great news for growing families, as well as investors looking for larger condos in which to invest.
Location & Neighbourhood
This tower will soar on the southern side of Eglinton Avenue East, in between Holly Street and Dunfield Avenue, and it is only steps away from the intersection of Yonge and Eglinton.
The building is surrounded by mid-rise commercial and service buildings, with the exception of the high-rise residential building on its south side.
This is about to become one of the most central locations in the city, potentially on par with monumental developments like The One. This is because of the incoming transit line called the Eglinton Crosstown LRT, which will be a rail line that travels down the Eglinton Corridor. This will vastly improve the transit in Midtown Toronto, and it will catalyze development and growth in the process. In addition to condos and other homes on the thoroughfare, it is sure to attract commercial and employment opportunities too.
What makes the Crosstown so exciting for this project in particular, is the nearby presence of Eglinton Station. This is already one of the most used stations in the GTA, but it is set to become a transfer station as this is where the Crosstown will intersect with Line 1 Yonge-University. In addition to the obvious advantages of living near a central transit hub, this could also influence the surrounding neighbourhoods in becoming the next Yorkville or Annex.
