Aug. 27, 2019
RioCan, Metropia and Capital Developments are partners to develop the 11 Yorkville condominium tower in Toronto. (Courtesy RioCan/Metropia/Capital)
Three of Canada’s leading developers are set to launch sales this fall for one of downtown Toronto’s most significant condominium projects, the 62-storey 11 Yorkville.
Partners RioCan Living, Metropia and Capital Developments will develop the project, which will feature 593 residential suites ranging from 400 to 1,140 square feet. The partners bill 11 Yorkville as “one of the last chances to live on Toronto’s most beloved street.”
The tower will include premium residences, a parkette and a retail component. Recognizing the need for more public space in the neighbourhood, the parkette will be a hardscaped, 14-metre-wide area fronting the building’s retail space, connecting Cumberland Street to Yorkville Avenue.
“There is only one Yorkville Ave. in Canada, and we have a responsibility to deliver a project that lives up to its surroundings,” said RioCan REIT (REI-UN-T) founder and CEO Ed Sonshine in a release issued Tuesday morning.
“Yorkville has always been synonymous with prestige in Toronto, and it is experiencing a retail renaissance. It’s an exciting time to be contributing to the vitality and longevity of this neighbourhood.”
11 Yorkville will be located across from the new Four Seasons Hotel & Residences.
The land assembly for 11 Yorkville began in 2014 as RioCan and Metropia began consolidating their properties along Yorkville Avenue, with the goal of bringing a “visionary project” to Yorkville.
Capital Developments, which recently partnered with RioCan and Metropia on E2 Condos, then became involved as a third partner.
The development received full zoning approval last month.
“11 Yorkville is the culmination of Toronto’s best developers and consultants coming together to offer a landmark project,’ said Todd Cowan, co-founder and managing partner of Capital Developments, in the release.
“I am very proud of our tremendous team for pushing the envelope and creating such a unique project that lives up to its iconic address.”
The building’s amenities are highlighted by an indoor-outdoor infinity pool which opens onto an expansive patio terrace overlooking Toronto’s skyline. Other features include a hammam spa, a chef’s kitchen and lounge, piano lounge and a boutique porter offering personal shopping and errand services.
The 62-storey 11 Yorkville condominium tower in Toronto. (Rendering courtesy RioCan / Metropia / Capital)
The building’s design is reminiscent of 1920s gothic architecture which influenced New York’s first skyscrapers. It features limestone cladding at the base and tapers as it rises upwards, complimenting the larger stone piers which anchor it to the ground.
“The design of 11 Yorkville creates a sense of heightened desire that is so fitting for its location. Well-founded in the park, it’s as if the ground is holding up the final piece of Yorkville Ave. and leading it towards the sky,” said Dermot Sweeny, president of Sweeny&Co Architects Inc., in the release.
The park area is designed by Janet Rosenberg and Studio.
“Yorkville has some of the city’s greatest public spaces, such as the Four Seasons’ Rose Garden and the Village of Yorkville Park,” said Howard Sokolowski, chairman and CEO of Metropia, in the release. “The site presented the perfect opportunity to contribute to the unique vibrancy of the neighbourhood.
“Enhancing Yorkville’s active public realm is part of the great legacy we hope to leave behind.”
Interiors are designed by Cecconi Simone. They offer high-end finishes, and design-focused kitchens which include a two-level black marble island with a built-in wine trough, a wine fridge and a marble range hood enclosure.
RioCan Living develops and operates purpose-built rental units and condos along Canada’s most prominent public transit lines.
RioCan Living developments leverage RioCan’s vast portfolio of more than 200 major market retail and mixed-use properties. RioCan Living delivers transit-oriented communities backed by RioCan’s extensive track record.
Metropia is a Toronto-based real estate developer of master-planned communities and condominiums across Canada.
Building on founder, chairman and CEO Howard Sokolowski’s four decades of industry experience, Metropia’s expertise covers every facet of the development industry.
Capital Developments is an industry-leading Canadian real estate company, with international roots. Co-founder and managing partners Todd Cowan and Jordan Dermer each bring 25 years of real estate experience, working across North America and Europe.
Capital Developments has delivered or been a partner in some of Toronto’s top developments, including: Art Shoppe Lofts & Condos, Azura Condos, E2 Condos, Bloor & Dufferin, 150 & 155 Redpath and MA Condos.