Toronto-based developer Canderel announced Thursday it has acquired a 1.8-acre-site at the corner of Bathurst Street and Lake Shore Boulevard West.
545 Lake Shore Boulevard West was purchased from Rogers Media for an undisclosed price. It’s currently home to a Rogers Media complex that houses production studios, as well as offices for several Rogers-owned brands.
Canderel considers it to be a prime development site in the city's West Harbourfront neighbourhood, near Queens Quay and the Toronto Island Airport.
“545 Lake Shore and the urban lakeside community in which it is located offer our company yet another opportunity to bring positive change to one more iconic Toronto neighbourhood through distinctive design and smart urban planning,” says Ben Rogowski, Canderel’s Chief Operating Officer, in a media release.
“With an unparalleled location, which already provides a host of residential, commercial and recreational amenities, we are confident that we will be able to create something truly distinctive in this lakefront community,” he adds.
No specific plans for the site have been announced yet, but Rogowski says the developer will be working with community members, city staff and local politicians on an “exciting new future for the site.”