City Council Approves OPA and Rezoning for Build Toronto Development at 4050 Yonge Street

Commercial Development to become Ontario's Most Energy Efficient Office Building

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TORONTO, July 14, 2011 /PRNewswire/ - Build Toronto has received approval by Toronto City Council on its Official Plan Amendment and Rezoning application for its development at 4050 Yonge Street. This Council vote follows similar Council approval received by North York Community Council on Wednesday June 22.

The proposed seven-storey office building, to be located at the northwest corner of Yonge Street and York Mills Road, will include a total gross floor area of 480,800 square feet with 367,000 square feet of rentable area primarily for commercial office use along with retail, restaurant and café uses. Also included in the design plans are a seven-storey atrium, a four-storey grand entrance from York Mills Subway Station, three levels of below grade parking for 371 reserved and public parking spaces, and bicycle parking.

"We are excited to move forward on our first commercial office development", said J. Lorne Braithwaite, President & CEO, Build Toronto. "We have already received a positive response in the marketplace and will continue our efforts on marketing this spectacular building for the right tenant".

Nestled within the Don River and the Don Valley Golf Course in North Toronto, 4050 Yonge Street is designed to be the most energy efficient office building in all of Ontario. Modeled after Manitoba Hydro Place in Winnipeg, one of the most energy efficient office buildings in North America, and designed by its architect, Kuwabara Payne McKenna Blumberg (KPMB) Architects, the building will feature an eight-storey solar chimney to facilitate natural air ventilation.

As part of its LEED Gold designation, the building will include in-floor radiant heating and cooling, a central atrium providing fresh air supply and maximizing daylight harvesting, a high-performance building skin, multiple green roofs and exterior shading to enhance energy conservation.

The building is one kilometre south of Highway 401 on Yonge Street and will feature direct lobby access to the Yonge subway line and direct access to the GO Bus network.

"This innovative, modern and sustainable design truly represents the next generation of office buildings", said Thomas Payne, Founding Partner, KPMB Architects. "An urban development in an accessible location, incorporating smart and sustainable energy efficiencies, 4050 Yonge Street will help its future tenant set itself apart and make a statement that sustainable, well-designed commercial offices are not just the right thing to do, but highly profitable for organizations because a healthy and humane workplace increases productivity." 

The proposed office building is expected to show a 55% reduction in energy consumption compared to the Model National Energy Code for Buildings (MNECB) standard and energy savings of approximately $0.75 per square foot compared to other new downtown LEED Gold designed buildings.

Receiving the highest Design Review Panel rating, 4050 Yonge Street is expected to break ground in 2012, and be ready for occupancy end of year 2015.

About Build Toronto
Officially launched in May 2010, Build Toronto is an independent and self funding real estate and development corporation focused on maximizing the value of underutilized City-owned real estate. Build Toronto's Board of Directors is comprised of both private and public real estate professionals and the City of Toronto is its sole shareholder. Build Toronto works to meet City of Toronto's public policy objectives and achieve City Building by: creating a financial dividend for the City; enhancing employment opportunities; undertaking high quality, environmentally sustainable developments; and acting as a catalyst for responsible neighbourhood regeneration. Build Toronto is part of the City of Toronto's strategy to enhance Toronto's economic competitiveness. For more information, please visit www.buildtoronto.ca.

SOURCE Build Toronto Inc.