Colliers Private Capital Investment Group has brought a major redevelopment site in Etobicoke to market, offering investors the opportunity to participate in or purchase 900 The East Mall on behalf of Harhay Developments. The 4.2-acre property has permits for a four-door, high-rise, 932-unit, 780,515-square-foot mid-rise property, with the flexibility for a 50-100 percent management sale. The first phase is ready for NOAC by the end of the year and could be ready for construction in the first half of 2027. With Official Plan and Zoning Bylaw approvals in place and site plan approval nearing completion, the project represents a rare, near-construction-ready opportunity just a nine-minute drive from Pearson Airport, which is undergoing a $3 billion modernization project, and a 10-minute walk from the future Martin Grove station on the Eglinton Line 5 West expansion.
900 The East Mall, designed by Core Architects for Harhay Developments
The plans call for a phased redevelopment that will see four residential towers built in two phases, organized around a mix of residential space and ground-level retail use. The program includes a total density of 780,515 ft², including 650,226 ft² of residential space and 11,354 ft² of commercial space, with 932 units ranging from studio to three-bedroom floor plans. The development concept is structured to allow implementation as either a condominium, a purpose-built apartment, a seniors project or even a potential hotel project, providing flexibility to respond to market conditions. The existing site, which currently contains five low-rise commercial buildings, continues to generate operating income during the transition to redevelopment.
The site is located south of Eglinton Avenue and is conveniently located at the southeast corner of the Highway 427 and 401 interchange. The property is approximately a five-minute drive from Toronto Pearson International Airport and is in close proximity to major retail destinations such as Sherway Gardens. At the same time, it benefits from close access to Kipling and Islington stations on Bloor Line 2. Future connectivity is set to be further improved by the westward extension of Eglinton Line 5, where a station on Martin Grove Road will be approximately 10 minutes’ walk or a short bus ride away.
A top view of the current website, image courtesy of Colliers International
From a planning perspective, the project is well advanced, with official planning and development approvals already in place to enable the construction of mixed-use high-rise buildings on the site. Site plan approval is in its final stages, leaving room for refinements to building design and density prior to construction while keeping schedules intact.
The current project, designed by Core Architects, introduces a distinctive wave-influenced architectural expression, although the approved framework allows for further refinement by a new partner. There are opportunities to simplify the building form and improve construction efficiency. Estimates suggest the actual cost could be reduced from about $440 to $380 per square foot, representing potential savings in the region of $46 million.
900 The East Mall, designed by Core Architects for Harhay Developments
Market conditions in Etobicoke suggest the development pipeline is tightening and fewer new projects are underway since 2023. This slowdown coincides with continued population growth and creates a supply gap that is expected to support both rental absorption and renewed demand for condominiums as the market stabilizes. At the same time, reduced construction activity has eased pressure on trade and materials, with cost reductions creating a more favorable window for groups to proceed.
The offering covers a range of transaction structures including joint venture, equity investment, partial ownership or full acquisition. Under a ring-fenced rental scenario, the project is structured as a long-term income-generating asset, with projected returns supported by phased delivery and stabilized operations. In contrast, a condominium approach would follow a pre-sale and sell-out model, requiring an initial equity contribution of around $30 million and offering a more concentrated return profile upon completion.
Interior view, image courtesy of Colliers International
The existing property, consisting of five commercial buildings on 12 lots, generates an annual income of approximately $585,273 and helps offset ongoing costs during construction preparation. On the development side, eligibility for government incentives (including GST rebates and a 50 per cent reduction in development costs for rental projects) provides significant cost relief.
The Etobicoke area supports long-term growth, with the county’s population estimated at 408,936 in 2024 and continuing to grow. A large proportion of residents belong to the 25- to 34-year-old age group, a cohort that is expected to remain dominant until the end of the decade. The area’s average household income is $118,276, with spending well above the national benchmark, providing a strong foundation for retail and amenity-focused development.
View from the balcony, image courtesy of Colliers International
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