Steven McLean, Residential, Real Estate News Exchange
The Lake Suite condos will be constructed by Greenland Group at Toronto’s East Bayfront area. (Courtesy Greenland Group)
“East Bayfront is our long-term focus,” Greenland Group deputy director of construction and contract Liwen Deng told RENX. The company is about to break ground on Phase 1 of the project, which will ultimately consist of seven buildings.
“With all of the development in The Port Lands and East Bayfront, we want to ensure that this vibrant community continues to emulate the best of urban waterfront living and that it has an active part in bridging city and lake.”
Lakeside Residences is a 3.34-acre master-planned community at 215 Lake Shore Blvd. E., just west of Lower Sherbourne Street, which was formerly occupied by FedEx Corporation. It will include more than 1,800 residential units and more than 25,000 square feet of retail.
The 14-storey City Suites Building was the first to launch with an estimated June 2021 occupancy, followed by the 49-storey Park and Sky Building with an estimated July 2022 occupancy.
Greenland Group’s Lake Suites
Park and Sky is being followed by a 39-storey, 374-suite condo tower called Lake Suites.
Lake Suites will include one-bedroom, one-bedroom-plus-den, two-bedroom, two-bedroom-plus-den and three-bedroom designs. Prices start in the $700,000s.
Sales started earlier this year, with occupancy estimated for March of 2023.
Hoarding is about to go up and Phase I demolition and construction will start this fall.
Deng said July was a very busy sales month. Greenland Group just closed its presentation centre on Lake Shore and moved sales to an office at 493 Davenport Rd.
Lake Suites’ fourth-floor exterior amenities will include a putting green, a fireside lounge with seating, an outdoor barbecue and a dining area. Park and Sky will include an outdoor infinity pool with lounge and terrace areas atop its adjacent podium.
Hariri Pontarini Architects designed the buildings at Lakeside Residences. Landscape designer Janet Rosenberg & Studio Inc.’s courtyard and other exterior spaces will highlight the development’s walkability, surrounding parkland and opportunities for leisure, cafes and retail experiences nearby.
“The master-plan for the East Bayfront neighbourhood includes a network of pedestrian connections and pathways merging the city with the waterfront, and it is also a short streetcar ride to Toronto’s financial district,” said Deng.
“The area will become a true extension of the downtown core and this community will be part of what links the city to the water. The landscape will provide residents with a unique four-season environment woven into the master-planned design.”
Waterfront Toronto is overseeing the transformation of the East Bayfront area with investment from all levels of government and the private sector. Just a block away from Lakeside Residences, Canada’s first “smart cities” neighbourhood is being planned by Google sister company Sidewalk Labs.
Deng believes the smart cities neighbourhood will be good for the area.
“The future neighbourhood brings an aspect of modern living to Toronto that will help maintain Toronto’s trajectory as a leader in tech. Its impact on living and evolving better infrastructure will be a model for future development and we’re excited to see it become part of the community.
“We’re watching as consultations proceed to see how this will change East Bayfront.”
The next phase of Lakeside Residences is still in the planning stages.
Among other completed or under construction buildings nearby are:
* the mixed-use Daniels Waterfront – City of the Arts;
* and Menkes’ Sugar Wharf Condominiums.
Greenland Group’s King Blue
Towers of 48 and 44 storeys are nearing completion and will feature more than 900 condo suites, with occupancy to begin this fall. King Blue will also feature a theatre museum and Qube Hotel, which is scheduled to open in the autumn of 2020.
China-based Greenland Group is a company owned in part by the state, its employees and investors. It was founded in Shanghai in 1992. Greenland is one of the few developers in the world that’s part of the Global Fortune 500, with projects in North America, Europe, Asia and Australia.
“We are recognized worldwide for creating iconic landmark communities and vibrant neighbourhoods,” said Deng. “We take pride in our attention to detail, our use of only the best materials and choosing the best and most prime locations in every city.”