River & Fifth, Broccolini’s first residential tower in Toronto, began its 37-storey ascent today in a virtual ground-breaking ceremony that illustrated the future of the emerging downtown east side.
The 580-unit condominium, designed by Graziani Corazza Architects, NAK Design Strategies, is located at Dundas Street East and River Street in Corktown, a historic neighbourhood wedged between Regent Park and the Distillery District.
The development brings more housing to what Councillor Kristin Wong-Tam notes is “the largest revitalization housing site in North America.” About 59 per cent of people who live in Corktown are renters, in an area where rents are still relatively cheap.
Although the major commercial expansion at East Harbour will bring 50,000 employment opportunities and proximity to Google, developers also envision residents intricately connecting to the natural surroundings known to the area, such as Corktown Commons, Riverdale Farm, the Don Valley and Evergreen Brickworks.
“River & Fifth is a really special project because it marks our first residential tower property in Toronto and we feel really grateful it can be in a neighbourhood with so much promise and connected to green space and public parks,” says COO Anthony Broccolini. “Greenspace and public parks in urban settings are so important, as we’ve seen over the last few months.”
When it’s completed in 2023, it will have a mix of studio to three-bedroom units, ranging between 485 to 900 square feet. There will also be access to outdoor amenities on three floors and 8,800 square feet of indoor amenity space, including a children’s play area, a pet-washing station and co-working space.