Old East London may join the list of massive highrise developments slated for the city.
A 600-unit, multi-tower development has been proposed for 809 Dundas St., a large lot across from the provincial offences building that’s now home to a small, commercial plaza.
“I think there is a lot of growth there. The neighbourhood is changing. It will be a chic, happening place with theatre and arts,” said Ian Stone, head of Paramount Developments, which wants to build the towers. “We have a lot of confidence in that area.”
Stone has built several commercial plazas, but this would be his first highrise.
“My forte has been commercial, this would be my first go at residential. It’s a great location for millennials and artsy people and if the (Western) Fair does anything, they may require residences.”
Gateway Casinos & Entertainment Ltd., a privately owned company with a large presence in Western Canada, has been awarded a 20-year contract to operate six gaming centres in the region, including Western Fair.
That may see an expansion at the gaming centre, which now boasts slots and gaming machines, said Hugh Mitchell, chief executive at Western Fair.
“Gateway and OLG (Ontario Lottery Gaming Corp.) has not released any information about its plans yet,” said Mitchell. “We are going to sit down with Gateway in the next two to three weeks to discuss plans for the site.”
The development, however, is a long way from seeing shovels in the ground. Although there have been discussions with the city planning department, there is not yet an application with the city.
A public meeting will be held March 23.
The development was unveiled at an Old East Village BIA meeting last week. It is believed the proposal would see two large towers, two smaller towers, parking underground and above ground and commercial development on the main floors, said officials, who declined to be identified.
“I think it is an area people like. It is starting to rejuvenate. There is a lot of culture there,” said Roger Caranci, a realtor and former city councillor who is representing the developer. “This would be near the Aeolian Hall, which is a jewel, and the Palace Theatre. It would be great to be part of that.”
The lot is about 0.8 hectares in size, with roughly 110-metre frontage.
Old East Village BIA could not be reached for comment.
“We are now doing consulting with the community, architects and the city,” said Caranci. “We have a plan. We want to bring it forward.”