Toronto's former bus terminal is set to gain new mileage as a mixed-use housing development under the city's real estate arm. _CreateTO cityoftoronto
The rebirth of the former Toronto Coach Terminal site is one step closer to materializing. , on behalf of the City of Toronto, announced it has initiated a Request for Expression of Interest as part of a two-stage market offering process for development teams to reimagine the Toronto Coach Terminal site. The prime downtown real estate sits at 610 Bay Street and 130 Elizabeth Street.Union Station’s
The proposed redevelopment of the combined 1.26-acre property will also include adaptive re-use of the existing heritage building, as well as streetscape improvements and the ability to generate financial returns. The ModernTO program, adopted by Council in 2019, aims to modernize the City’s office space, save money, and strategically use its real estate assets. Through this program, City Council identified eight underutilized City-owned properties that present an opportunity to unlock value and address city-building priorities, including the delivery of affordable housing, City services, financial sustainability, and other priorities.
Gupta says that the property’s location within Toronto’s Discovery District was also a major draw of the site. “The property’s location within Toronto’s Discovery District presents an opportunity to work with the development community to repurpose this site in a unique way and I think that’s an exciting prospect,” says Gupta.
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