First Capital REIT to redevelop properties in Yonge-Eglinton area

Goodmans LLP acted for First Capital REIT in connection with the approval of the official plan amendment and rezoning application to permit the future redevelopment of 13 neighbourhoods-designated properties situated within the Yonge-Eglinton Protected Major Transit Station Area with a 27-storey mixed-use tower comprising 353 units, including 10 affordable rental housing units.

Situated along the north side Montgomery Avenue, between Yonge Street and Duplex Avenue, the site is located approximately 350 metres from Eglinton Subway Station on Line 1 and the soon-to-be-completed Eglinton Crosstown LRT. The proposal incorporates a pedestrian colonnade and will introduce several public realm improvements, including a widened pedestrian boulevard along Montgomery Avenue. The project will also benefit from a new public park planned for the south side of the street.