464-468 Winona Drive, Toronto C03, ON M6C 3T7, Toronto C03, ON
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.
Property Highlights
For Sale
MLS NO.
C12554262
Type
Residential Freehold
Sub Type
Vacant Land
Complete Property Details
Property Type
Residential Freehold
Sub Type
Vacant Land
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
C12554262
Total Bedrooms
0
Total Bathrooms
0
Total Kitchens
0
Central Vacuum Yn
No
Lot Width
71.0
Direction Facing
West
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
464-468 Winona Drive, Toronto C03, ON M6C 3T7
City
Toronto C03
Neighbourhood
Oakwood Village
County / Region
Toronto
Province / State
ON
Postal Code
M6C 3T7
Cross Street
St. Clair and Winona
Directions
St. Clair and Winona
Country
CA
List Price
$29,499,000
Annual Taxes
$16,500
Tax Year
2025
Legal Description
PART LOT 20 PL 115 TWP OF YORK PARTS 3 & 4, PLAN 66R26535, TORONTO (YORK) TOGETHER WITH AN EASEMENT OVER PART LOT 20 PL 115 PARTS 1 & 2, 66R26535 AS IN AT5005921 CITY OF TORONTO and PT LT 20 PL 115 TWP OF YORK AS IN CY643901
Possession Type
Flexible
Possession Details
30-180 DAYS
Listing Office
FOREST HILL REAL ESTATE INC.
Board
Toronto Regional Real Estate Board
Original Entry
2025-11-18T15:31:33Z
Media Updated
2025-11-18T15:33:46Z
Photos Updated
2025-11-18T15:31:34Z
Last Modified
2025-11-18T15:33:46Z
System Modified
2025-11-18T15:33:46.514847Z
MLS Status
New
Ddfyn
Yes
Expiration Date
2026-05-31
Hstapplication
Included In
Occupant Type
Vacant
Originating System Id
A00001796
Property Features
Park, Public Transit, School, School Bus Route
Public Remarks
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.
