Last year, we reported on the purchase of 520 Richmond St. West by our friends over at Alterra. At the time, we had no idea what would become of the single-storey commercial building occupying the site. Well, thanks to an application submitted by Alterra, we have a much clearer view of their vision for the high profile site.

Alterra's plans at 520 Richmond St.

According to an application submitted to the City of Toronto, Alterra is seeking permission to develop a new mid-rise condominium at 520 Richmond St. The plan calls for a 13-storey condo, featuring just 108 suites, with commercial on the ground floor, as well as 36 parking spots in a below grade garage. The building will be designed by Quadrangle Architects.

Alterra developing in the Fashion District

Like many of our downtown pockets, the area around Spadina and Richmond is starting to see more and more infill projects. Developers like Lamb Development, Menkes, and Sorbara Development Group have recognized the Fashion District as an area with a lot of potential. The mix of vibrant shops, trendy restaurants, and mid-rise infill projects is definitely a recipe for success.

Alterra’s impressive portfolio

Alterra is a developer who has brought some significant projects to Toronto recently. 36Hazelton, in the middle of construction, is one of the most popular new communities in Yorkville. Another highly anticipated development of Alterra’s is Post House Condominiums (located beside Toronto's first ever post office), which will boast some pretty sleek architecture.

As Alterra and Quadrangle release new information, we will be sharing the news as quick as possible!