$29,499,000
164 days on market
An exceptionally rare opportunity to acquire a premier development site in the heart of Midtown Toronto between Humewood and Cedarvale neighborhoods -one of the city's strongest and most resilient rental markets. The listing price includes Site Plan Approval (SPA) for the proposed 200-unit, 11-story rental development. PAC meetings' feedback and prepared Application Package suggest a short approval period. All seller's obligations related to SPA delivery will be detailed in the Agreement of Purchase and Sale. Offers may be made conditional on these final approvals, giving developers valuable certainty as the project moves toward completion of the planning process. Two independent appraisals have valued the land at about $25 million without approvals, reflecting its true highest and best use as a large-scale rental development. The proposed building aligns perfectly with CMHC's MLI Select program. The completed asset is expected to exceed $100 million in value with projected annual rental income of more than $5,500,000.Situated in a prime Midtown location surrounded by established high-demand rental buildings, the site benefits from strong municipal support for rental intensification as Toronto prioritizes new rental supply. The previously approved townhouse plan is no longer the highest and best use of the land, which is now optimized for a transformative multi-residential project. With near-zero vacancy in the area and robust demand for high-quality rental housing, this is a rare chance for forward-thinking developers to deliver a flagship rental asset in one of Toronto's most coveted neighbourhoods.
464-468 Winona Drive
Closest publicly funded schools within 5 km, ranked by EQAO standardized test scores
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Top 50% of Ontario elementary schools
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EQAO score is the average of available reading, writing & math results, 0–100 · Source: Ontario Ministry of Education
Nearest rapid transit and bus stops
50 within a 10-min walk · 483 within 20 min · click a card to see the closest ones
Listing provided by FOREST HILL REAL ESTATE INC.
Based on information from the Toronto Regional Real Estate Board (TRREB). All information deemed reliable but not guaranteed and should be independently verified. The accuracy of information is not guaranteed, has not been verified, and does not constitute professional advice.
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Data last updated: May 2, 2026 at 09:40 a.m.
R = Reading · W = Writing · M = Math · arrows show 3-year change
R = Reading · W = Writing · M = Math · arrows show 3-year change
Arrows show 3-year change
Arrows show 3-year change
Source: TTC GTFS · straight-line distances · routes shown are short names
© OpenStreetMap contributors · counts are amenities tagged in OSM within walking distance