5.5K 
In Midtown Toronto, a unique urban development scenario is unfolding as two high-rise mixed-use towers are now proposed side-by-side, separated by a mere 0.45 metres. At 2346 Yonge Street, designed by CGL Architects Inc. for Diamond Corp and Fineway Properties, a 56-storey tower proposal has just been submitted to the City, while directly north, another high-rise residential project was already proposed at 2350 Yonge Street as of mid-2022. Set to stand 50 storeys, the side-by-side proposals reflect smaller properties than those typically associated with tall towers, but illustrate the area's draw for redevelopment. Located just a 2-minute walk north of Eglinton station on Yonge Line 1, the site will further benefit from the upcoming Eglinton Line 5 Crosstown LRT.
Currently occupied by a two-storey commercial bank building and a surface parking lot, the site spans an "L"-shaped parcel totalling approximately 1,245m² in area. Situated at the northwest corner of Yonge Street and Orchard View Boulevard, it has about 20m of frontage along Yonge Street. The area features diverse architecture where newly constructed high-rise towers coexist with older mid-rise and low-rise commercial buildings.
The Official Plan and Zoning By-law Amendment applications envision a 56-storey structure rising to 185.91m. This mixed-use development would feature 407 units with 272m² of ground-level commercial space in a three-storey podium, emphasizing retail activity along Yonge Street that would wrap around to Orchard View Boulevard. With a total Gross Floor Area of 36,656m², the design has a Floor Space Index of 29.5.
Each of the residential floors above the podium would have a tower floor plate measuring 646m². (More typical floor-plates on less constrained sites at 750m².) The development would offer 710m² of indoor and 635m² of outdoor amenity space, situated on the 4th and 12th floors, respectively. With four elevators, there would be approximately one for every 102 units, indicating reasonable wait times.
In response to the City’s push for transit-oriented developments, the proposal includes no long-term parking spaces, but accommodates three short-term pick-up/drop-off spaces. For cyclists, the development would include 367 long-term and 82 short-term bicycle spaces, along with 12 public spaces at grade.
Positioned within just 0.45 meters from the shared lot line with 2350 Yonge Street, the development at 2346 Yonge presents a unique architectural challenge typical of dense urban settings. To accommodate this proximity, the north-facing side of the 2346 Yonge Street tower would feature a blank, windowless wall. The design for 2350 Yonge Street to the immediate north includes south-facing windows, however. Currently under review by the Ontario Land Tribunal (OLT), the expectation is that a finalized design for 2350 Yonge Street would also incorporate a blank, windowless condition on its south side so that the buildings could co-exist. It remains to be seen whether the City and/or OLT would approve two tall buildings so close to each other even if the designs have no windows facing their neighbour.
The development is situated within the Eglinton Major Transit Station Area (MTSA), with Eglinton station just 165m to the south. As well as Line 1 and soon-to-open Line 5, numerous bus routes serve the station as well.
The proposal is part of a broader wave of vertical growth reshaping Midtown Toronto, particularly around the Yonge-Eglinton corridor. To the north, 2444 Yonge Street is under construction, set to feature towers of 25 and 31 storeys. To the east, 2323 Yonge Street calls for 37 storeys, and 2345 Yonge Street would stand at 47 and 49 storeys. Southwards, 50 and 36 Eglinton Avenue West call for towers ranging from 46 to 59 storeys, while 1 Eglinton East is proposed at 65 storeys and several tall buildings as high as 65 storeys are proposed at 2180 Yonge. To the east, 77 Roehampton Avenue and 55 Eglinton Avenue East are both proposed at 50 storeys; the dual Madison Group projects at 110 and 150 Eglinton Avenue East call for four towers designed by Rafael Viñoly Architects (with Turner Fleischer as the Architect of Record), ranging from 58 to 61 storeys.
UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database files, linked below. If you'd like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.
* * *
UrbanToronto has a research service, UrbanToronto Pro, that provides comprehensive data on construction projects in the Greater Toronto Area—from proposal through to completion. We also offer Instant Reports, downloadable snapshots based on location, and a daily subscription newsletter, New Development Insider, that tracks projects from initial application.
