“We don’t want Yonge & Eglinton [to grow] like Yonge & Sheppard,” is what Karen Stintz, City Councillor of the Eglinton-Lawrence ward and Chair of the TTC, said during the ULI Toronto event on June 5th, echoing the concern of residents located in the Yonge & Eglinton ward. With one snide comparison to another Toronto intersection most new urbanists would likely balk at, the core issue at Yonge & Eglinton was revealed: uncontrolled intensification.

The area, which is known affectionately to its residents as “Yonge & Eg” (and also “Yonge & Eligible” in reference to its popularity with young professionals), has undergone a surge of condominium development in recent years with plenty of projects in the development pipeline. Situated in midtown Toronto, the community has witnessed a population increase of almost 20 per cent in the past 10 years. Compounding this rapid growth is the recently-announced Eglinton Crosstown LRT, a new east west light rail transit route running both above and below ground along Eglinton Avenue and through the heart of this neighbourhood, leaving an expected wake of new development in the area.

Understandably current residents are concerned about protecting Yonge & Eg’s palpable charm from adverse impacts stemming over-development. On the other hand, planners, developers and councillors wrestle to mould this “urban growth centre” as identified in the province’s intensification strategy “Places to Grow” in a sustainable, pedestrian oriented fashion. In an aim to shed light on the impending transformation of Yonge & Eglinton, ULI Toronto hosted a diverse cross-section of panellists from the public and private sectors whom offered insight in a sold-out moderated discussion at the Toronto Board of Trade, in downtown Toronto.

With a wealth of experience in planning and experiencing population growth first-hand, Ms. Stintz, opened the discussion diplomatically by gently reminding stakeholders that “managing change is easier when people aren’t surprised.” This concept of partnering with the public has experienced success in preventing NIMBYism as the residents of Yonge and Eglinton, according to Ms. Stintz, “don’t want to stop growth but be part of it.” Having receptive residents to development is likely encouraging news to developers as there are currently over 30 projects in various stages of construction in the area.

Many onlookers witnessing the brisk pace of development seem to forget that the neighbourhood is subject to a City of Toronto secondary plan which prescribes the types of land uses permissible in the area. Leo deSorcy, the City of Toronto Urban Design City Planner for the neighbourhood, stated that in addition to this secondary plan, the “City of Toronto has just commissioned a public realm master plan that will guide improvements to public space with completion in the next 9 to 10 months.” With the objective of this plan to improve the “streetscapes, open spaces, and public parks of the neighbourhood,” the neighbourhood is poised to maintain the vibrancy current residents are keen to protect.

While residential development has flourished, commercial development, namely office and retail, has significantly lagged in terms of growth and development, but that is about to change according to Jordan Robins, Senior Vice President of Planning and Development with RioCan REIT. As RioCan owns the iconic Yonge-Eglinton Centre, Mr. Robins provided insight into the office market noting “that five years ago the math wasn’t there for office but in five years from now there will be more office development.” RioCan is expected to contribute to this new supply of office space as Mr. Robins hinted “we [RioCan] are very close to a 250,000 square foot office addition to RioCan’s Yonge-Eglinton Centre.”

The numerous cranes dotting the skyline of Yonge & Eglinton may suggest that condo demand is exceptionally strong however according to Shaun Hildebrand, Senior Vice President of Urbanation, “35 per cent of the units are unsold in the Yonge & Eglinton area while the rest of Toronto’s unsold inventory is approximately 20 per cent.” Suggesting the area has entered a slowdown may be welcome news to some residents, but in the medium to long-term the area is expected to experience “strong growth in rental demand” which will likely be further fuelled by the Eglinton Crosstown LRT.

Confirming the development community’s heightened interest in the area since the LRT announcement was Steve Upton, Vice President of Planning and Development with Tridel, commenting that “where transit is going is where you should develop.” Mr. Upton also noted that Tridel, which currently has condominiums under development in the neighbourhood, expects the “residential intensification in the area to revitalize office space as was the case Downtown.”

There is no doubt the Yonge & Eg area has experienced a high level of development which will only be further precipitated by the addition of new public transit systems. However, it appears the proper check and balances are in place to not only preserve but improve the area which should be welcome news for the area’s concerned residents.

Braiden Goodchild
Communications Committee
PricewaterhouseCoopers Real Estate Inc.

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