Redevelopment of the “Don Sommerville” property

Goodmans LLP acts for a joint venture redeveloping a large track of land referred to as the “Don Sommerville” property at 1555-1575 Queen Street.

As part of the redevelopment, the Context Developments/RioCan Joint Venture will demolish the existing Toronto Community Housing Corporation (TCHC) buildings and construct a 10 storey rental replacement building for TCHC containing approximately 138 residential rental units and upon certain lands that are to be conveyed to the Joint Venture, Context/RioCan will also construct a 17 storey market condominium building, an 8 storey mid-rise residential rental building, a 15 storey hi-rise residential rental building and retail uses at grade. The market component of the project will contain 50 affordable housing units that will be subject to a long-term contribution agreement with the City of Toronto and the Joint Venture will sell to the City of Toronto 32 Affordable Housing Units that will be contained within the Market Buildings.

Goodmans’ mandate has included acting on the acquisition of the lands, negotiation a complex memorandum of understanding between the co-owners (Context and RioCan REIT) and the Toronto Community Housing Corporation and the City of Toronto in respect of the redevelopment, complex development agreements with the City of Toronto and other applicable governmental agencies and negotiating (on behalf of Context) complex joint venture documentation, including  a co-owners agreement, two management agreements and a development management agreement.