Streetcar Developments has moved into Corktown in a big way. This developer specializes in mid-rise (4-6 floor) developments, and has completed 2 projects in the Beaches. Streetcar Developments has 2 projects underway just east of the DVP: Riverside Lofts (747 Queen E) and Edge Lofts (625 Queen E). Their first Corktown project is the Vinegar Lofts (located at 19 River).
At the March 6 Corktown meeting, Streetcar Developments shared the following tentative plans (subject to change). They have acquired 6 properties in the vicinity of King/Sumach, which they hope to develop in 2 phases during the next 3 years. In total, 300 condo units and 45,000 ft2 of retail space, at at 6 locations. Phase I (construction starting Nov 2007) will be 52 Sumach, 549 King E and 569 King E. For these 3 properties, there will be a single rezoning application, and they will be managed by a single condo corporation. At each location will be a 6 storey condo (42-44 units each) with underground parking. The 52 Sumach development will include 3 townhouses along Bright St. 549 King E will include ground floor retail, 4 townhouses along Percy St. Ground floor retail is also planned for 569 King E. The developer asked for community input on the type of retail that persons would like to see.
Phase II will comprise 510, 512 and 530 King E. Streetcar Developments also hopes to lease and make improvements to 2 parking areas underneath the Richmond / Adelaide ramps.
(March 15: corrected # townhouse units on Bright)