The Opportunity
Overview
An exceptionally rare opportunity to acquire a premier development site in the heart of Midtown Toronto between Humewood and Cedarvale neighborhoods -one of the city's strongest and most resilient rental markets. The listing price includes Site Plan Approval (SPA) for the proposed 200-unit, 11-story rental development. PAC meetings' feedback and prepared Application Package suggest a short approval period. All seller's obligations related to SPA delivery will be detailed in the Agreement of Purchase and Sale. Offers may be made conditional on these final approvals, giving developers valuable certainty as the project moves toward completion of the planning process. Two independent appraisals have valued the land at about $25 million without approvals, reflecting its true highest and best use as a large-scale rental development. The proposed building aligns perfectly with CMHC's MLI Select program. The completed asset is expected to exceed $100 million in value with projected annual rental income of more than $5,500,000.Situated in a prime Midtown location surrounded by established high-demand rental buildings, the site benefits from strong municipal support for rental intensification as Toronto prioritizes new rental supply. The previously approved townhouse plan is no longer the highest and best use of the land, which is now optimized for a transformative multi-residential project. With near-zero vacancy in the area and robust demand for high-quality rental housing, this is a rare chance for forward-thinking developers to deliver a flagship rental asset in one of Toronto's most coveted neighbourhoods. (id:61970)
Investment highlights
- 01Vacant Land
Property details
- Property type
- Vacant Land
- Transaction
- sale
- Listing brokerage
- FOREST HILL REAL ESTATE INC.
- Listing representative
- RICHARD ISAAC HIMELFARB
- Board / association
- Toronto
Financial information
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Location intelligence
Documents
Source Record
Current listing facts, with attribution intact.
- Source
- REALTOR.ca DDF®
- Listing status
- active
- Source ID
- 29113592
- Last supplied
- February 25, 2026
- Listing brokerage
- FOREST HILL REAL ESTATE INC.
- Listing representative
- RICHARD ISAAC HIMELFARB
- Board / association
- Toronto
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Listing brokerage: FOREST HILL REAL ESTATE INC. · Listing representative: RICHARD ISAAC HIMELFARB · Board/association: Toronto · Updated: Feb 25, 2026
Listing content is supplied through REALTOR.ca DDF®. Information is deemed reliable but is not guaranteed and should be independently verified. Commercially is not the listing brokerage unless expressly stated.
