Two 10-story mixed use apartment buildings are proposed; project’s developer plans on transitioning units to condos for purchase down the road.
Scott’s Addition could add two new 10-story buildings to its growing inventory of residential space–the tallest structures in the neighborhood yet–if one local developer’s plans get the green light. Louis Salomonsky of Historic Housing LLC, developer of a number of other residential properties around town, presented plans for “Roseneath Towers” to members of the Scott’s Addition Boulevard Association Wednesday morning.
The project, which would be constructed on an empty lot at Roseneath Road and the terminus of West Clay Street and I-195 offramp, will likely go before the planning commission in May, and Historic Housing LLC hopes to break ground this summer if everything goes as planned. The two approximately 100-foot buildings would be a stark contrast to the one- to two-story buildings currently in the neighborhood, and would likely need a Special Use Permit (SUP) for its height to be approved by city planners. The tallest building in the Preserve at Scott’s Addition development, which faces the project site to the south, is four stories in height.
Salomonsky says the project will encompass 260 residential units that will begin as rentals and could later be converted to condos for purchase, ideally three to four years down the road. The timeline will be dictated by market conditions and demand in the neighborhood, he said during the presentation. Many of the units will feature built-in home offices, and a multi-level parking garage would be constructed as part of the project. Existing commercial buildings abutting the buildings to the north would remain along West Leigh Street between Roseneath Road and Belleville Street.
At the meeting, neighbors cited concerns with the existing traffic pattern, which directs one-way eastbound traffic from the Downtown Expressway and one-way traffic from West Clay Street towards one another. Scott’s Addition Boulevard Association president Roger Bouchard says the association will meet with the city’s traffic engineer to discuss ways to mitigate those concerns and will propose a formal traffic study if city funds permit. Salamonsky, for his part, told the group “our concerns are your concerns,” vocalizing a willingness to work with neighbors on ensuring the development is a good fit.
Save for several blocks of row houses and a condo redevelopment project at Summit and Norfolk known as Summit Lofts, the neighborhood’s housing inventory is largely rental-only. Salomonsky says he thinks this makes Scott’s Addition ripe for more homeownership opportunities. “I have a couple of townhouses [here] that people want to pay me two to three times what I bought them for, so I think there’s a pent up demand.”
Historic Housing LLC owns and/or operates approximately 1,600 residential units in Richmond and around 300 in Washington, D.C. Elsewhere in the neighborhood, the company redeveloped 1 Scott’s Addition at the corner of Norfolk Street and Summit Avenue, which includes two apartment buildings and an Urban Farmhouse Market & Café.
“I grew up in the area when it was all blue collar,” Salomonsky said when asked why he chose Scott’s Addition for the proposed project. “It’s just (becoming) a great, eclectic neighborhood. I think a mix of commercial, retail, and housing creates a synergy that’s very exciting.”
More statistics on real estate: https://precondo.ca/new-condos-etobicoke/