Adjacent proposals near Yonge and Eglinton increase height and density

RioCan REIT and Minett Capital have resubmitted redevelopment proposals for two sites in Midtown Toronto’s Yonge and Eglinton neighbourhood at 2323 and 2345 Yonge Street. Both proposals, designed by DIALOG, are now larger, with 2323 Yonge Street featuring a 58-storey tower and 2345 Yonge Street featuring two towers at 54 and 56 storeys.

2323 Yonge

Located on the northeast corner of Yonge Street at Roehampton Avenue, the site currently occupied by an eight-story office building. Initially approved as a 34-storey building with four floors of office space and 352 residential units, the new proposal eliminates the planned office space, with increased density and height at 58-storeys, with 750 residential units Retail spaces are also planned at grade.

2345 Yonge

Mirroring the adjacent 2323 Yonge Street proposal, the site at 2345 Yonge Street is located between Roehampton and Broadway Avenues, and is currently occupied by a 10-storey office building. Initially proposed as 34 and 36 storey towers in 2021, and revised to 47 and 49 storeys in 2023, the latest plans call for two towers at 54 and 56 storey towers, with a 10-storey podium and ground-floor retail. The project would contain a total of 1,370 residential units.

Located just north of Eglinton Station, both proposals fall within the Yonge-Eglinton Major Transit Station Area (MTSA), targeted for higher density by the Province. Several dozen high-rise residential developments are planned for the neighbourhood, reflecting the area’s rapid growth.

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