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As a historically industrial neighbourhood, Carlyle identified the Junction as one of Toronto’s key growth markets with the City’s announcement of the SmartTrack transit network. As vacant land, Carlyle foresaw an opportunity to reimagine the property at 6 Lloyd Avenue, acquiring the property in 2017.
The Junction is a vibrant, up-and-coming neighbourhood in Toronto packed with art galleries, local coffee shops and craft breweries. Young families have flocked to the area in recent years thanks to its close proximity to downtown and distinctly unique community spirit.
Originally obtaining approvals for a 15-17 storey mid-rise development in 2022, Carlyle reacted to an evolving municipal policy and provincial legislation landscape by revising the zoning to permit the development of two towers at 35 and 28 storeys, respectively. With 20+ development applications in the pipeline within 1km of the property, the area is primed for significant growth over the next 5-10 years.
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