Cool story for a new condo being planned for the University & Dundas area:
'Car-free' condo: 42 storeys, no parking
The condominium would go up on the site of the century-old Royal Canadian Military Institute on University Ave. near Dundas St., which would be demolished, with elements of its facade preserved at the base and a thin tower above.
"If you look at the evidence of what sells downtown, the majority of units under 750 square feet in the downtown core sell without parking,'' said Stephen Deveaux, a vice-president with the developer, Tribute Communities. Parking spots typically add $20,000 or more to the cost of a downtown condo.
Deveaux called the project, which still needs approval from full city council, an opportunity to design and market an "environmentally progressive building." With so many jobs and handy transit nearby, the units will sell, Deveaux said.