685 Lake Shore

Once the site of brownfields and industrial complexes, Toronto’s Port Lands represent 356 hectares of mostly vacant land located in downtown Toronto. The City’s 50-year urban renewal plan proposes a district, road and transit layout that will result in an exciting new community with room to grow. Carlyle, in partnership with Slate Asset Management, identified this 0.99-hectare site as having significantly more potential than indicated by the in-place planning framework. After acquiring the site in December 2021, Carlyle and Slate Asset Management proposed a mixed-use development in the McCleary District; two stunning high-rises connected by a commercial podium designed by BPD Quadrangle that will serve as a new gateway to the revitalized area. Our application led the way, being the first privately held development in the District to receive OLT approval in June 2025.