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Real Estate


Does one tall tower inevitably lead to more? Residents near U of T think so

The University of Toronto created a stir earlier this year when news surfaced about an agreement with Knightstone Capital Management to build a 24-storey student residence south of College Street, between Spadina and Huron. Residents weren’t thrilled at the prospect of 800 (possibly) soused-up and raucous students living nearby, and worried that one high-rise in the low-lying neighbourhood could open the door to others. With the revelation this week that a different American company, Bailey and Company, has filed a rezoning application to build a 30-storey mixed-use structure right next to the proposed residence, the latter fear appears justified. The Ontario Municipal Board’s next pre-hearing on the Knightstone building isn’t until November—giving residents’ associations plenty of time to hone their “slippery slope” arguments. [Globe and Mail]