The University Heights Professional and Medical Centre, to be located at 35 Tangiers Road, will likely begin construction in 2015, states developer Paolo Abate of Real Wealth Group.
[USPRwire, Tue Jan 09 2018] Location was top of mind to the developer of the eight-storey, 165,000-square-foot University Heights Professional and Medical Centre, which is currently in development at 35 Tangiers Road.
"Itís the first new commercial office development inÖnorth of 35 years in the area," says Paolo Abate, of Real Wealth Group, developer of the project.
"Without the announcement several years ago that construction was going to start on whatís going to be called new Finch West station, I donít think this area would have been right for redevelopment."
But since the TTC subway and Light Rail Transit (LRT) station will be within steps of the centre when they are complete, Abate states this project was the right fit in the resurging Downsview Corridor in northern Toronto.
"Itís everything," Abate says of the Finch transit project, "because you already have 40,000 cars now that go by the intersection and now youíre going to have a transit hub thatís projected to have more commuters every hour than Bloor and Spadina, if you can believe that. This is what the TTC has indicated to us. Itís a very important re-emerging part."
Constructed with professional and medical occupancy in mind, University Heights is being built 200 metres from the corner of Finch Ave. W. and Keele Street and will contain retail space on its lower level with professional and medical offices on the upper levels.
Slated to be finished in the summer of 2016, Abate says they are looking to break ground next year and start construction.
This comes after years of negotiating the acquisition and getting proper approvals from the City of Toronto. Abate says it took about two years to get through the site plan application process and, in July of this year, the project obtained site plan approval and rezoning.
"Things are taking longer and itís not uncommon for a project like this to take two years, sometimes more," he states.
"Weíve been behind the project for several years making it a reality."
The budget for the project is between $25 and $30 million, Abate adds, and a builder has not yet been selected. The developer is working with ACK Architects and the buildingís design will feature an open and sun-lit commercial concourse for restaurant and retail tenants and will be built to Toronto Green Standard Tier 2 qualifications.
"Itís going to benefit from the most advanced technology when it comes to material selection, energy efficiency," Abate says.
"Itís also interesting; weíre going to have an accessible green roof. Weíve taken the extra step to actually make it accessible as a common element in the building. In an emerging new urban area, revitalizing urban area, itís quite interesting to have that feature."
The 7,100-square-foot green space will be located on the third floor. In all, University Heights will contain 89 units of 550 to more than 2,500 square feet.
"The value for tenants of University Heights is that itís situated in close proximity to the Yorkdale Shopping Centre, Downsview Park, York University and four hospitals, including the new Humber River Regional Hospital," Abate adds.
Courtesy : https://canada.constructconnect.com/dcn/news/Projects/2014/11/Location-key-for-University-Heights-medical-centre-1004078W