Laura Hull –
On September 25, the Toronto East York Community Council considered developer KingSett Capital’s application to build a 46 story residential building at 214-231 Sherbourne Street. After hearing seventeen speakers, Chris Moise, chair of the Council and Ward 13 Councillor, made the unusual call to pass the decision to City Council for further consideration without recommendation. The next City Hall session begins on October 8th.
The owner of 214-230 Sherbourne, developer KingSett Capital, is one of Canada’s largest private equity real estate investment firms. Their plan for the building includes 615 units, including 80 studios, 380 one-bedroom units, 92 two-bedroom units, and 63 three-bedroom units. 230 Sherbourne Street (the William Dineen House) is a heritage building and its facade will be maintained.
The speakers at the meeting ranged from representatives of No Demovictions to Regent Park Community Health Centre.
“Your oath of office binds you to work in the best interest of the people,” said Wasim Ghani, one of the speakers. “Allowing KingSett to go make a 46 storey condo in an area that is populated by the poorest of people is a cruel joke.”
“[The planning report] is positive and it also provides recommendations for the restoration and conservation of the Dineen house, which is vacant,” said Cynthia Macdougall, representing KingSett and the only speaker in favour of the project. “I would also like to point out that there is a very strong endorsement from the Cabbagetown South Residents Association that is very enthusiastic.”
230 Fightback, a group that has been outspoken about its opposition to KingSett Capital’s proposal, released a press release ahead of the meeting. “A luxury development in the heart of a community that desperately needs social housing would express everything that is wrong with how housing is being provided in Toronto,” said Gaetan Heroux from 230 Fightback. “This destructive project must be rejected and the real needs of the community must be met.”
In 2022, KingSett Capital bought the property from a private owner, paying about $54 million and outbidding the City, according to property records obtained by the bridge.
As part of the Dundas-Sherbourne Neighbourhood Revitalisation plan, the City has been trying to buy properties along Sherbourne Street. The plan “will establish a vision for the development of affordable housing and support services around the neighbourhood,” according to the City’s website. “By working with residents, community partners, and other City divisions, the redevelopment plan will identify community sites which can be activated to support improvements to the neighbourhood.”
In the spring of 2023, KingSett offered to sell the property back to the City, but KingSett did not accept the City’s offer.
The Downtown East neighbourhood is home to many vulnerable and marginalized residents who experience disproportionately high rates of poverty, violence, crime and poor housing conditions. Since the 1990s, the neighbourhood has been gentrifying a process expected to continue near the future Moss Park station of the Ontario Line.
