Just west of Toronto’s downtown core, King-Spadina, once known for run down warehouses, is growing into a forest of glass and steel. The area continues to astonish,as it undergoes a construction like Toronto has never seen. Since 2004, at least 99 projects have been constructed, approved or pitched and the movement isn’t slowing down.
King-Spadina is overtaking even high-rise hubs such as Yonge and Eglinton in midtown Toronto and the Bay and Yonge corridors downtown. A development summary for the Entertainment District, which includes King-Spadina, shows that more than 1.5 million square metres of residential space is soon to be added to the area, which means over 20,000 new housing units, 2,443 additional storeys and therefore 40,000 new residents by 2020.
The land prices as a result will also be expected to rise significantly, running from $4-million to $70-million an 24acre. For this reason, developers want to find ways to build to the maximum height possible and include the maximum number of units.