Yonge-Richmond settlement reached between Great Gulf, city

Dennis Hanagan –

Toronto hopes to avoid an Ontario Municipal Board (OMB) hearing with Great Gulf now that the developer has revised its proposal for its 681-unit Yonge-Richmond tower.

Great Gulf has reduced the proposed building height to 45 storeys (from the original 50) for the site at 25 Richmond St. E. and 20-26 Lombard. On Aug. 25, council approved a motion by councillor Pam McConnell to have city staff attend the OMB hearing to support the settlement.

Great Gulf argued that the site is close to the Financial District where building heights can be 45 storeys and taller.

Under Section 37 of the Planning Act, Great Gulf is to contribute to the city $500,000 toward the North St. Lawrence Market redevelopment, $500,000 for implementation of heritage lighting and an interpretation master plan for Old Town Toronto, $1.5 million for local streetscape and park improvements and $500,000 toward the First Parliament Building site.

The city also wants planning staff to continue discussions with the developer to create an exterior north-south pedestrian walkway to connect Lombard and Richmond and also to provide an art feature on the Richmond side. The heritage building at 26 Lombard will be preserved and contain 12 condo units.