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464-468 WINONA DRIVE Toronto
  • 464-468 WINONA DRIVE Toronto
  • 464-468 WINONA DRIVE Toronto

464-468 WINONA DRIVE, Toronto, Ontario

$29,499,000

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:50212)

  • Listing ID: C12554262
  • Property Type: Vacant Land
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Details

  • Amenities Nearby: Park, Public Transit, Schools
  • Community Features: School Bus
  • Transaction: For sale

Building

  • Fireplace Present: False
  • Utility Water: Municipal water

Land

  • Amenities: Park, Public Transit, Schools
  • Sewer: Sanitary sewer
  • Size Frontage: 71 ft
  • Size Irregular: 71 x 303 FT
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Listing provided by FOREST HILL REAL ESTATE INC.
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 464-468 WINONA DRIVE in Toronto Ontario. It was last modified on November 18th, 2025. Contact The TanTeam to schedule a viewing or to discover other Toronto real estate for sale.

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