Anthem Properties’ announced on Tuesday the acquisition of new 4.4 acre site at 10232 Whalley Blvd on the corner of 102 Avenue. The site is currently occupied by a Toys R’ Us and Dollarama, and is located directly across the street from the developer’s soon-to-be underway ‘Georgetown’ master-planned community – which received preliminary approval for Phase 1 back in April.
In the news release, Anthem notes that they plan on submitting a development application for rezoning of the site in the near future, to allow for a new ‘master-planned residential community’ in line with the City Centre Plan. The site is currently designated ‘Mixed-use / Mid to High-Rise 3.5 FAR’, similar to ‘Georgetown’ across the street, but is likely to see lower towers heights as a transition away from the core to lower density designated lands to the east.
It is unclear whether the new acquisition will become an extension of ‘Georgetown’ or be marketed as a stand-alone development. Also unclear is how the project will fit into the anticipated decade-long phasing of Georgetown’s 7 towers across the street – whether the project will come to market concurrently with one of those phases or be marketed after the build-out of Georgetown.
For more on Anthem’s Georgetown: