Metal garage in downtown Toronto will be moved to a new location in a mixed-use development.
The building, which was originally constructed in the 1970s and has been vacant for decades, will be demolished and replaced with a new residential building that will include a new bar, gym and spa.
The company behind the development is MAMAM Group, which has built more than 100 mixed-used residential projects across the GTA, including the Woodbridge project in Scarborough.
“The concept behind this project is to be a very sustainable, mixed-income neighbourhood that’s in close proximity to the existing public spaces, but it also allows us to make an investment that’s much bigger than a single building,” said Mike Hirsch, president and CEO of MAMOM Group.
The project will include apartments, commercial space and offices.
The new MAMAMS complex will also feature a public park, a parkland, a fitness centre and a retail space.
“We’re going to be looking at a mix of residential and commercial space that will be in a very good location that’s close to the train tracks and the waterfront,” said Hirsch.
MAMAMP Group has partnered with a real estate agent to manage the project, which will be completed in 2018.