Some people work to live, but now you can live where others used to work at this new Toronto development coming to Eglinton Ave. E. and Don Mills Rd.
Amexon Development Corporation is hoping to transform an existing 15-storey office building at 250 Ferrand Drive into a “vibrant residential property” housing hundreds of new rental units.
The 331-unit project has been dubbed “e-lofts” to reflect the development’s environmental focus and the energy of Eglinton Ave. It’s promising “contemporary loft-style living, with a focus on sustainability and connectivity.”
The specific location will boast a panoramic view of Lake Ontario — connecting to Don River parklands. “e-lofts” will also be accessible by transit, being within walking distance of Don Valley station as well as stations close to the Eglinton Crosstown LRT opening (hopefully) later this year and Ontario Line coming in 2031.
“‘e-lofts’ represents an environmentally sustainable approach to modern urban loft living,” says Founding Partner at CORE Architects Deni Poletti in a press release.
“Our design introduces bold, authentic loft character and seamlessly blends contemporary style with environmental responsibility.”
The existing office building at 250 Ferrand Drive. Google Street View.
Some of the more “forward-thinking” sustainability features include a copper-toned exterior façade with integrated solar panels to “[enhance] the building’s energy efficiency while creating a bold and contemporary architectural identity.”
Projects like this have become solutions for Toronto’s dying office market, as demand for office space hit new lows at the end of 2024.
The vacancy rate for office buildings in downtown Toronto currently sitting at 19.7 per cent in contrast to the 2.2 per cent record-low in the last quarter of 2019 — despite many businesses returning to in-office work.
Turning the plethora of vacant office space into residential units is one solution that’s been proposed by many Toronto residents, and it’s one the city has invested into. However, most developers don’t want to take on the cost, and often opt to tear down existing offices to make way for residential units.
“Working on ‘e-lofts’ allows us to craft living spaces that take full advantage of the building’s great ‘bones’ — the high ceilings, ideal floor plate, and exposed concrete elements,” says Principal at II BY IV DESIGN Dan Menchions.
There’s no word on when this project is slated to be completed, but further updates will be made via Amexon’s website.
Amexon Development Corporation
