A revised proposal has been filed for 200 University Avenue<\/a>, where GWL Realty Advisors<\/a> is seeking approval for a 53-storey mixed-use tower designed by KPMB Architects<\/a> atop the site\u2019s Modernist heritage office building. The updated plan, following an Ontario Land Tribunal (OLT) settlement in 2024, replaces the previous proposal for a 51-storey concept that retained office uses with a residential program containing retail at grade. It would rise where Toronto\u2019s Financial District meets the Entertainment District, steps from Osgoode station.<\/p>\n Occupying the southwest corner of University Avenue and Richmond Street West, the property is home to a 1961-built, 14-storey Modernist office building designed by John B. Parkin Associates. Recognized on the City\u2019s Heritage Register, retail units occupy the ground floor, while upper levels contain professional offices. Located at the transition between the Financial District and the King\u2013Spadina area, the building sits among a mix of heritage structures, corporate offices, and new residential towers.<\/p>\n The redevelopment journey began in June, 2022<\/a> with applications to add a 35-storey residential tower above the existing office building, creating a 51-storey, 174.7m, mixed-use project with replacement office space, and heritage work overseen by ERA Architects<\/a>. Following appeals to the OLT for City Council\u2019s lack of a decision, and then its 2023 refusal of a heritage alteration permit, the file advanced to mediation.\u00a0<\/p>\n In mid-2024, a settlement was reached allowing a 37-storey addition for a total of 53 storeys, converting the office space to residential units, and introducing some affordable rental housing. The Tribunal issued an interim approval that December. Bousfields<\/a> has now submitted Official Plan Amendment, Zoning By-law Amendment, and Site Plan Approval applications to the City of Toronto on behalf of the developer, reflecting those settlement terms.<\/p>\n The latest tweaks to 53-storey, 193m plan envision a residential tower with 197m\u00b2 of retail fronting University Avenue at ground level, with 36 new storeys above the retained heritage structure. The heritage structure would have its upper storeys converted from mechanical space, adding 3 new storeys to total 17 storeys.<\/p>\n The proposal totals 50,964m\u00b2 of Gross Floor Area, up from 48,572m\u00b2, with the office replacement component of 13,257m\u00b2 now removed. The Floor Space Index increases from 27.7 to 29.0 times coverage of the 1,754m\u00b2 lot. Residential space would account for 50,767m\u00b2, up from 35,315m\u00b2, supporting 626 units, an increase from the previous 478. This includes 24 secured affordable rental suites. Six elevators are proposed for the tower, equating to about one per 104 units, requiring high speed motors for prompt service.<\/p>\n Indoor amenities would occupy 1,594m\u00b2 in the revised plan, slightly above the 1,583m\u00b2 previously proposed, while outdoor amenities increase from 285m\u00b2 to 294m\u00b2. Below grade, a private six-level underground garage would replace the existing commercial parking facility, with 48 vehicular spaces, down from 56 in the earlier plan, including 40 reserved for residents and 8 for visitors. There would be 710 bicycle parking spaces, up from 548 previously, with 564 long-term stalls and 126 short-term stalls.<\/p>\n Osgoode station<\/a> on University Line 1 is about 100m north, less than a two-minute walk, where Ontario Line 3<\/a>, now under construction will introduce a new interchange. St Andrew station lies about 250m to the south, while Union Station is approximately 600m away. The area is also served by frequent TTC surface routes.<\/p>\n The proposal is within an intensifying pocket of Downtown West. To the north, 250 University<\/a> is planned to rise 47 storeys, while westward developments include 241 Richmond West<\/a> at 41 storeys and RioCan Hall<\/a> with towers of 37 and 42 storeys. Southwest, 260 Adelaide West<\/a> and the Freed Hotel & Residences<\/a> is planned at 61 and 63 storeys respectively. South of the site, proposals include 217 Adelaide West<\/a> (23 storeys), 150 Pearl Street<\/a> (57 storeys), and 100 Simcoe<\/a> (67 storeys).<\/p>\n UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you’d like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.<\/p>\n * * *<\/p>\n UrbanToronto’s research and data service,\u00a0UTPro<\/a>, provides comprehensive data on construction projects in the Greater Golden Horseshoe\u2014from proposal through to completion. Other services include\u00a0Instant Reports<\/a>, downloadable snapshots based on location, and a daily subscription newsletter,\u00a0New Development Insider<\/a>, that tracks projects from initial application.\u200b<\/p>\n <\/imgx><\/imgx><\/imgx><\/imgx><\/imgx><\/imgx><\/imgx><\/div>\n<\/div>\n <\/p>\n \t\t![\"-\"](\"https:\/\/cdn.skyrisecities.com\/release\/img\/more-content.png?14728329483\")
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November 12, 2025 by Anthony Teles<\/span><\/span>\u00a0\u00a0
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\u00a0571\u00a0<\/span><\/div>\nHeight Increased, Offices Removed in Latest 200 University Avenue Plan<\/span><\/p>\n<\/div>\n