Two condo towers and a retail strip will take the place of a patchwork of storefronts near campus if a developer’s application gets approved.
KingSett Capital submitted a proposal last summer to take over eight storefronts at 363-391 Yonge Street and 3 Gerrard St., which each back onto Ryerson’s O’Keefe Lane. The stretch includes destroying fast-food joints, clothing stores and Remington’s Men of Steel, an all-male strip club.
The proposed two towers will be 62 and 72 storeys tall respectively.
They will flank an 11-storey podium, which will contain retail and office space, and a possible connection to the PATH system. The towers will consist of residential space, mostly one-and-two bedroom condo units.The project is being designed by Quadrangle Architects.
According to city documents, the developer must address several issues with the application before the application moves forward.
The concerns include the impact on two heritage properties in the stretch of land, conformity with the Downtown Tall Buildings guidelines — which regulate the design and function of developments over a certain height — and potential interference with flight paths for hospital helicopters at St. Michael’s Hospital and the Hospital for Sick Kids.
The report must also consider how the traffic generation and proposed driveway locations will affect O’Keefe Lane, where Ryerson’s Social Venture Zone is planning a garden and revitalized gathering space.
According to the city, KingSett is expected to submit a revised proposal with those considerations by the first quarter of 2016.