464-468 Winona Drive, Toronto C03, ON M6C 3T7
Toronto C03
An exceptionally rare opportunity to acquire a premier development site in the heart of Midtown Toronto between Humewood and Cedarvale neighborhoods -one of the city's strongest and most resilient rental markets. The listing price includes Site Plan Approval (SPA) for the proposed 200-unit, 11-story rental development. PAC meetings' feedback and prepared Application Package suggest a short approval period. All seller's obligations related to SPA delivery will be detailed in the Agreement of Purchase and Sale. Offers may be made conditional on these final approvals, giving developers valuable certainty as the project moves toward completion of the planning process. Two independent appraisals have valued the land at about $25 million without approvals, reflecting its true highest and best use as a large-scale rental development. The proposed building aligns perfectly with CMHC's MLI Select program. The completed asset is expected to exceed $100 million in value with projected annual rental income of more than $5,500,000.Situated in a prime Midtown location surrounded by established high-demand rental buildings, the site benefits from strong municipal support for rental intensification as Toronto prioritizes new rental supply. The previously approved townhouse plan is no longer the highest and best use of the land, which is now optimized for a transformative multi-residential project. With near-zero vacancy in the area and robust demand for high-quality rental housing, this is a rare chance for forward-thinking developers to deliver a flagship rental asset in one of Toronto's most coveted neighbourhoods.
Estimate only - excludes property tax, condo fees, utilities and home insurance. Rates vary by lender and term; based on semi-annual compounding.
Walkability, transit, and bike-friendliness for 464-468 Winona Drive, Toronto C03, ON M6C 3T7
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MLS# C12554262
Listed by FOREST HILL REAL ESTATE INC.
On market since Nov 18, 2025
464-468 Winona Drive, Toronto C03, ON M6C 3T7 is listed for $29,499,000 CAD.
464-468 Winona Drive, Toronto C03, ON M6C 3T7 has 0 bedrooms and 0 bathrooms.
464-468 Winona Drive, Toronto C03, ON M6C 3T7 is a Vacant Land.
464-468 Winona Drive, Toronto C03, ON M6C 3T7 is in Toronto C03, Ontario.
464-468 Winona Drive, Toronto C03, ON M6C 3T7 is currently for sale.
Contact Michael Mezheritsky to arrange a private showing of 464-468 Winona Drive, Toronto C03, ON M6C 3T7 (MLS# C12554262). You can also send a message through the contact form on this site.
