Moccasin Trail And Green Belt Drive, Don Mills, Toronto

40 Moccasin Trail And 50 Green Belt Drive, Don Mills, Toronto.

The subject property is located in an established community of residential commercial and industrial uses. The properties have good road accessibility to major arterial roads and highways. Redevelopment of many properties in the surrounding area has been undertaken and is being proposed with the creation of higher densities than currently exist. This is a function of the older age of prior developments and the demand for new housing, particularly condominium styles. Overall, we consider the neighborhood to be stable to improving in character as the updating and redevelopment of the area occurs.

As of the effective date, the Official Plan Amendment and Rezoning applications have been approved by the Ontario Municipal Board and the Site Plan application is in the final stages of approval with the outstanding conditions not considered to be onerous by the City of Toronto. According to the discussion with the property owner, a revised site plan application proposing a total gross floor area of 288,580 square feet, containing 289 residential units, at 2.19 FSI, is being prepared for a formal submission to the City of Toronto.

Based on the foregoing discussion and analysis, the highest and best use of the subject property is considered to be for medium-density residential development in accordance with existing land use regulations and the development proposal. Upon completion of the proposed building, the highest and best use is considered to be a continuation of the existing residential use. As vacant land, the highest and best use is to develop the site with a maximum total gross floor area of 32,100 m2 (approximately 345,521 square feet).