On October 30th, the director of community planning at the Toronto and East York District released a decision report for the amendment application of the 1-7 Yonge Street development. The application sought to add 10 typical floors to the Phase 2 building, increasing the number of floors for Phase 2 from 95 floors to 105 floors (344.9 meters); and add 12 typical floors into the Phase 3 building, thus increasing the number from 80 floors to 92 floors (306.8 meters). The building floorplates and site layout for Phases 2 and 3 will be unchanged from the previously Ontario Land Tribunal (OLT) approved settlement. The only changes are to the approved height. This amendment was approved and allows for the addition of 10 and 12 stories to phases 2 and 3 of Pinnacle's 1-7 Yonge Street development, which had already been approved.
In July 2018, the OLT approved an agreement between Pinnacle and the City of Toronto regarding the development at 1-7 Yonge Street. Subsequently, in April 2019, the OLT issued an order authorizing this agreement which granted permissions for a mixed-use residential and commercial project. It allowed for the construction of buildings ranging from 65 to 95 stories in height for the mixed-use residential buildings on the north block, and 22 to 35 stories in height for the commercial development on the south block.
In the October 2023 report, the planning staff recommends approval of the amended design, city council has to approve it as well which will tentatively occur in mid-December. This would authorize the City Solicitor to make necessary changes to the amendments and require the Owner to enter into an amending Section 37 Agreement. This agreement includes a cash contribution of CAD$3,000,000 (USD $2.1 million) for community benefits, which can be redirected for other community purposes if unused within three years.
Read the full report here.