KING AND PORTLAND IN PRE-CONSTRUCTION BY ALLIED PROPERTIES AND RIOCAN REIT
King and Portland is a new mixed-use condominium/office and retail development currently in pre-construction at 602 King Street West in Toronto, Ontario by Allied Properties and RioCan REIT. The proposal consists of a 14 storey office building and a 16 storey residential building with 116 residential suites and 113 parking spaces designed by Hariri Pontarini Architects.
The King and Portland Condos project is located at 602 to 622 King Street West, 499, 503 and 505 Adelaide Street West and 1 and 11 Adelaide Place in Toronto. The original proposal was for a 12 storey office building adjoined by a 20 storey residential development but now there is a request for an amendment for the approval of a 14 storey office building fronting on King Street West and a 16 storey residential building fronting on Adelaide Street West. Total proposed dwelling units is 116 of which 50 will be one-bedroom units, 2 will be one-bedroom plus den units, 39 will be two-bedroom units, 14 will be two-bedroom plus den units, 9 will be three-bedroom units and 2 will be three-bedroom plus den units. Total residential gross floor area is 10,228 square metres, total retail gross floor area is 1,264 square metres and total office gross floor area is 23,041 square metres. "The proposal also includes the retention and designation of the listed heritage building at 602-604 King Street West and the retention and designation of the grade related townhouses at 499 and 505 Adelaide Street West and 1 and 11 Adelaide Place. The applicant will be retaining the existing six rental housing units at 505 Adelaide Street West and 1 and 11 Adelaide Place and replacing the two rental units being lost at 503 Adelaide Street West in the townhouse building at 499 Adelaide Street West."
This mixed-use proposal is located at King Street West and Portland Street with the 14 storey (57.8 metres) building having at-grade retail use space with twelve floors of office space above that and the amenity/mechanical floor at the top floor. Because the floor ceiling heights are higher in the office building, it will actually be taller than the 16 storey residential building. The indoor and 140 square metres of outdoor amenity space and mechanical penthouse is located on the 16th floor with a total height of 53.5 metres. Total proposed indoor amenity spaces is approximately 504 square metres and is located on the first, second and sixteenth floor of the residential building. There is also a pedestrian walkway on the 4th floor connecting the proposed office building to the rooftop of the retained building at 602-604 King Street West which will be used as a rooftop amenity space for the office employees.
UrbanToronto's Growth to Watch For Series has tracked the hundreds of development proposals and construction projects across the city. Moving from neighbourhood to neighbourhood. Fashion District is in their series and its definitely a future growth area to watch for. Read more about UrbanToronto's Development Guide: Growth to Watch For 2016 Series - King Portland Centre.
This King Portland Centre development on 602-620 King Street West will have three levels of proposed below grade parking with a total of 113 parking spaces. 84 will be for commercial spaces and 29 will be for tenants of the building. It is also proposed that there will be 49 additional parking spaces offsite within 300 metres of this development. 107 bicycle parking spaces are also proposed for the King and Portland project.
This King and Portland development will be built to achieve a LEED Gold designation for the residential building and will be built to achieve a LEED Platinum designation for the office building. This 50/50 joint venture between Allied Properties and RioCan REIT close to shops and restaurants will "create a true mixed-use office, retail, and residential complex".
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David Vu & Brigitte Obregon, Brokers
Cell: 416-258-8493 Cell: 416-371-3116
RE/MAX Ultimate Realty Inc., Brokerage
1739 Bayview Ave Toronto, ON
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