Case Study

Unlocking Site Value Through Strategic Intensification

90 Sheppard Avenue East, Toronto

Additional residential condominium density identified through site intensification

Excess land and a portion of the parking lot sold to a condominium developer

Existing parking garage enhanced to maintain parking ratios for office tenants in a better underground environment

Unlocking Site Value Through Strategic Intensification

Overview

Crown acquired 90 Sheppard Avenue East with an opportunity to create additional value beyond the existing office use. Through a strategic review of the property and its development potential, Crown identified an opportunity to intensify the site with additional residential condominium density while maintaining and enhancing the functionality of the existing office asset.

Strategy

Crown identified a strategic partner to unlock additional density and acquire an underutilized portion of the property. The existing surface parking lot was rezoned for residential development and sold to the condominium partner. To support the office property, Crown enhanced the existing parking garage to maintain parking ratios in a more desirable underground garage for office tenants.

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Results

The intensification strategy unlocked value from excess land while preserving the functionality and marketability of the existing office asset. The sale of development lands created additional value from the site, while enhancements to the parking garage strengthened the office tenant offering. The result was a more efficient use of the property that balanced new residential density with the long-term needs of the existing office asset.

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