Riverside is about to get another condo..maybe.

While speaking to local land owners we discovered this new proposal at 763 Queen Street East beside the Ralph Thornton Centre Heritage Building. The buildings at 759-763 Queen Street East are owned by WHW Property Development Corp. We’ve got our research team out there digging into these guys to make sure they’re up for the job. We know that Colin Claxton, principal at Lankester Claxton & Associates was the one who submitted the application but we’re not sure if he’s the builder or has been hired by the builder as the GC. Claxton’s offices are just a few doors east of the subject site so it might make sense that he’s the principal! Stay tuned as more info comes in. We’ve also reached out to the Broker who sold the site in 2012 for just over $2 million.

We reached out to Jason Tsang, Assistant Planner for the City of Toronto and he had this to say:

We are awaiting documents/studies from them prior to declaring it a complete application.

Not much info from him now but it’s a active file and we should see sometime more concrete soon. We’ve also reached out to KAVE Architects for comment but haven’t heard back yet.

Here’s what the site looks like now

763 Queen East current view

What They Want

6 Storey building with main floor retail (with basements) and 29 residential units. They’re going for 11 parking spaces (good, you don’t need parking…it’s 2015 and it’s Queen Street) with access off June Callwood Way. Cool thing is they’re going to install a stacking parking system sort of like a car elevator.

The 29 units will range from 408sqft with a terrace all the way up to 1075sqft with a balcony. If you look at the floor plan template below you’ll see that 99% of the units are narrow bowling alley style places which buyers have frowned upon in the past. The only good floor plan I can see here is the 1075sqft one plus den on the 6th floor. See full development plans here.

763 Queen east floor plan example

What They’ll Get

They’re probably going to get exactly what they’re asking for. Although the Ralph Thornton Centre is considered to be 3 storeys, this 6 storey proposal will end up being the same height. Actually the 1.9 metre mechanical room on the rooftop will make it a tad taller but basically the same height. See the Northern elevation renderings below

763 Queen East North Elevation 763 queen east north elevation 3d

 What do you think? Comment below.