Panel adopts guidelines for Yonge-Eglinton revamp
New guidelines for the rejuvenation of Toronto's Yonge and Eglinton area that would allow for 40-storey office towers or condominiums were approved by city council's planning and growth committee yesterday.
The guidelines, largely supported by local councillors who have fought previous high-rise developments, would see the tallest buildings allowed only at the intersection, with heights farther away from the main streets scaling downward, and a new park.
The Toronto Transit Commission's former Eglinton bus garage in the area is seen as a key site for redevelopment that has been poorly exploited by the city, which is also considering using a new tax-break scheme to spur investment.
The intersection sits on top of the Yonge subway line at the centre of one of the city's most desirable residential and commercial areas, and is slated to become a major transit hub if the planned Eglinton light-rail line, which would be partly tunnelled under the road, goes ahead.
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