571 Dundas Street West - Alexandra Park Revitalization - Part Lot Control Exemption Application - Final Report

The Subject Lands consist of an integrated 13-storey market condominium building (Site 1 of the Master Plan) and 14-storey affordable rental building (Site 2 of the Master Plan), as well as 5 affordable rental townhomes (Site 3 of the Master Plan). This application proposes to create three (3) ownership parcels: the first is a market condominium building that will be transferred to a joint venture development entity formed between Toronto Community Housing ("TCH") and Tridel; the second is an affordable rental building and five townhouses that will remain in TCH ownership; and the third is a freehold retail space within the ground floor of the market condominium building that will be transferred to a separate entity. The proposed exemption from the part lot control provisions of the Planning Act has been requested by the owner to permit the division of the lands into a number of parcels that will enable the applicant to transfer or mortgage title for portions of the lands along with easements to facilitate the implementation of the Master Plan. This report reviews and recommends approval of Part Lot Control Exemption by-laws to be enacted for a period of up to 5 years on the Subject Lands. In addition, this report recommends that the owner of the Subject Lands be required to register a Section 118 Restriction under the Land Titles Act agreeing not to convey or charge any part of the Subject Lands without prior consent of the Chief Planner and Executive Director, City Planning or their designate.

2. Prior to the introduction of the Part Lot Control Exemption Bill for enactment, City Council require the owner: a. to provide proof of payment of all current property taxes for the Subject Lands to the satisfaction of the City Solicitor; and b. to register, to the satisfaction of the City Solicitor, a Section 118 Restriction under the Land Titles Act agreeing not to convey or charge any part of the Subject Lands without the written consent of the Chief Planner or her designate. c. to register the plan of subdivision for the Phase 2 lands of the Alexandra Park Revitalization. 3. City Council authorize and direct the City Solicitor to register the Part Lot Control Exemption By-law on title to the lands or any portion thereof against which the Section 118 Restriction under the Land Titles Act has been registered. 4. City Council authorize the City Solicitor to release, partially release, or provide consent to charge or convey under, the Section 118 Restriction from title to all or a portion of the lands in their sole discretion after consulting with the Chief Planner and Executive Director, City Planning. Notwithstanding the foregoing, City Council authorizes and directs the City Solicitor, in consultation with the Chief Planner and Executive Director, City Planning, to: a. provide the City's consent to: i. the conveyance of the condominium lands (Site 1) to the declarant of the condominium being developed thereon; ii. the creation of a mortgage or charge against the condominium lands (Site 1) in favour of the lender providing the construction financing for the condominium being developed thereon; iii. the creation of a mortgage or charge against the condominium lands (Site 1) in favour of the surety providing a warranty bond and excess condominium deposit insurance for the condominium being developed on the condominium lands (Site 1); and b. release the Section 118 Restriction from title to the condominium lands (Site 1) immediately prior to the registration of said condominium. 5. City Council authorize the City Solicitor to make such stylistic and technical changes to the draft Part Lot Control Exemption By-law as may be required. 6. City Council authorize City officials to take necessary steps, including the execution of agreements and documents which set out the implementation of the Part Lot Control Exemption By-law to give effect to the above-noted recommendations.