Leon's plans to build residential units on 40-acre plot of land in Toronto
Furniture retailer Leon’s says it is moving forward with plans to build thousands of residential units on land it owns in North York.
In a news release issued Monday, the company said it recently received rezoning approval that paves the way for it to build 4,000 residential units on a 40-acre plot of land that currently houses its corporate headquarters near Highway 401 and Highway 400.
- Download our app to get local alerts on your device
- Get the latest local updates right to your inbox
The mixed-used development will include townhouses, mid and high-rise buildings, and community spaces, the company said.
“Phase One of the development will be focused on the building of a new flagship retail store and corporate headquarters on the site,” the furniture company said in a news release.
The residential units will be built in “subsequent phases” of the project, it continued.
The company said the next step is to create a secondary plan with the City of Toronto, which Leon’s expects to be complete by mid-2025.
“Rezoning this large parcel of land creates an unprecedented and historic opportunity, for the City of Toronto and the company,” Michael Walsh, president and CEO of Leon’s Furniture Limited, said in a written statement.
“By establishing more density as part of a multi-year, multi-phase development, we will be helping to meet the overwhelming demand for additional housing within the city, while generating substantial value for LFL shareholders.”
CTVNews.ca Top Stories
U.S. president-elect's son shares post on X of Donald Trump buying Canada on Amazon
U.S. president-elect Donald Trump and those in his corner continue to send out strong messages about Canada.
Economists say more room to fall as Canadian dollar continues downward trend
Experts say the next few months are going to be rough for the Canadian dollar as it appears set to continue its downward trend.
Quebec fugitive killed in Mexican resort town, RCMP say
RCMP are confirming that a fugitive, Mathieu Belanger, wanted by Quebec provincial police has died in Mexico, in what local media are calling a murder.
Revised airline compensation rules will do little to change status quo: experts
Proposed changes to Canada's passenger rights charter will perpetuate loopholes that allow airlines to forego compensating travellers whose flights are disrupted, say airline experts.
5 rescued after avalanche triggered north of Whistler, B.C. RCMP say
Emergency crews and heli-skiing staff helped rescue five people who were caught up in a backcountry avalanche north of Whistler, B.C., on Monday morning.
Parties agree on the need to act on online harms, but time is running out for new law
Justice Minister Arif Virani is unapologetic about the money it would take to set up new regulators to tackle online harms under his proposed legislation.
Bill Clinton hospitalized with a fever but in good spirits, spokesperson says
Former U.S. president Bill Clinton was admitted Monday to Georgetown University Medical Center in Washington after developing a fever.
Trump again calls to buy Greenland after eyeing Canada and the Panama Canal
First it was Canada, then the Panama Canal. Now, Donald Trump again wants Greenland. The president-elect is renewing unsuccessful calls he made during his first term for the U.S. to buy Greenland from Denmark, adding to the list of allied countries with which he's picking fights even before taking office.
King Charles ends royal warrants for Ben & Jerry's owner Unilever and Cadbury chocolatiers
King Charles III has ended royal warrants for Cadbury and Unilever, which owns brands including Marmite and Ben & Jerry’s, in a blow to the household names.