If Yonge Street south of Bloor already seems like an endless series of excavation and construction sites, a new plan for the site of the Marriott’s
Courtyard Toronto Downtown may add even more hustings to the mix.
The address 475 Yonge Street is currently home to the largest Courtyard Marriott in the country, with 575 rooms in two buildings, nine and 16 storeys each, connected by a one-storey commercial podium. The proposal submitted this month by Hunter and Associations Ltd. on behalf of CYM Toronto Acquisition LP, would replace the existing structures with two towers, one 65 storeys, the other 45 storeys, connected by a five-storey podium, all designed by Toronto’s
Quadrangle Architects.
“
KingSett Capital and
InnVest REIT are pleased to announce major plans to position a key downtown Toronto hotel property for the future,” says Nicholas Lakas, vice president of asset management at InnVest REIT.
475 YongeThe new complex would contain 988 residential units, a 289-suite hotel—about half the rooms of the existing hotel—four levels of underground parking, two stories of retail and commercial property and a mid-block pedestrian promenade on the east side of the property to link streets and open spaces in the community. “In our opinion, two sensitively designed tall towers elements are appropriate for the site and fit this key site along Yonge Street, just north of College Street. It will positively contribute to the downtown skyline, with heights that are compatible with the recently approved buildings,” states the report.
In the meantime, the Courtyard by Marriott Toronto is undergoing a $14-million renovation project to renew all the guestrooms, meeting rooms and public spaces. “The renovation project, scheduled for completion in June, demonstrates ownership’s commitment to the on-going operations of the hotel and the delivery of memorable customer experience to our guests,” says Lakas.
The project is certainly in the middle of a hot development zone. Immediately north, at 501 Yonge, excavation has begun on
Lanterra’s TeaHouse, which will have two towers at 52 and 25 storeys each. Across the street at 484 Yonge, Kingsett Capital has a 45-storey tower planned, while just a smidge south at 460 Yonge,
Canderel is putting up its 66-storey YC Condos building.
The skyscrapering of Yonge aside, the proposed reduction in the number of hotel rooms on the site is also noteworthy. Just a few blocks further south, a
proposal for the Chelsea Hotel submitted last fall would see the existing building at Yonge and Gerrard replaced by four towers—80, 50, 74 and 46 storeys—and one six-storey mid-rise structure. Although that plan would create 1,897 residential units, as well as more commercial space, the number of hotel rooms at the Chelsea would drop to 300 from the 1,590 it now has.
Writer: Paul Gallant
Source: Nicholas Lakas, Planning Rationale Report