Looks like the cat’s out of the bag: Reserve Properties has coughed up $11 million to purchase the Leslieville Value Village Parking lot ($6,750,000) and the Queen St Value Village building ($4,250,000). The deal closed in December and they didn’t waste any time submitting their plans to the City.
What They’re Building
The first phase of what’s surely to be an iconic development in Leslieville Value Village site includes only 6 enormous townhouses. Like double the size of any house in the area at approximately 3,305 square feet! Each unit will have work spaces on the ground floor then a 4 bedroom home above. Private garage and all. The views from the roof top terraces are going to be insane!
We have no idea how much they’ll be selling for but 3000 square foot townhouses should be trading well north of $2mm by the time they’re ready to sell. This is just the tip of the iceberg, folks. The rest of the lot has so much potential we can’t wait to see what Reserve does with this.
What do I think?
What do you think I think? C’mon! This is a giant eyesore of a parking lot that’s needed some love for a very long time! The City no doubt will put some serious set back requirement to minimize the effect on adjacent homes but overall this will be amazing for the community and solidify Logan and Queen as THE prime Leslieville intersection. Finally a site to give Dundas and Carlaw a run for its money!
Want to stay in the loop? Give me a call 416-879-7609 or visit The Spring Team. https://thespringteam.ca/leslieville-value-village-development/