Leon’s Furniture Ltd. says it’s planning to build upwards of 4,000 homes on land around its head office at the intersection of Highways 400 and 401 in Toronto.
The land has been rezoned from employment uses to allow housing development. The next step will be to complete a secondary plan with the City of Toronto which is expected to be completed by mid 2025.
Phase one of the development will be focused on building a new flagship retail store and corporate headquarters on the site. Leon’s home office has been located on this parcel since 1969.
Subsequent phases will focus on plans for 4,000 homes which will include townhouses, mid and high rise buildings and community spaces. LFL will be partnering with top-tier developers to co-lead the project. Leons has a track record building retail showrooms and large scale distribution centres across Canada as it continues to move toward a centralized distribution model.
“Rezoning this large parcel of land creates an unprecedented and historic opportunity, for the City of Toronto and the company,” said Michael Walsh, president and CEO of LFL. “By establishing more density as part of a multi-year, multi-phase development, we will be helping to meet the overwhelming demand for additional housing within the city, while generating substantial value for LFL shareholders.
“We would like to acknowledge the City of Toronto and the Province of Ontario for their help and support of LFL’s plans. LFL has been working closely with Councillor Frances Nunziata’s office, as well as the City of Toronto and looks forward to commencing public consultation.”
The 40 acres is bordered by Highway 401 to the north, Highway 400 to the west/southwest and Jane Street to the east.
