260 - 322 King Street West Zoning Amendment Application - Removal of the Holding Symbol ("h") - Final Report

The development includes buildings of 84 and 74 storeys on the West and East Blocks respectively, designed by Frank Gehry. Zoning By-law 1480-2017 (OMB) includes a holding symbol ("h") on the lands subject to conditions. The conditions for the removal of the holding symbol requires the submission of architectural elevation drawings that illustrate building materials, colours and finishes that generally reflect the model images of the development submitted by Gehry International Inc., and considered by Council in 2014. The elevations are also to be secured in a site plan agreement, prior to the removal of the holding symbol. A site plan application for both the East and West Blocks has been submitted and review of the application is nearing completion. Model images and architectural elevation drawings that illustrate building materials, colours and finishes have been submitted and reviewed by City Planning staff and are considered acceptable. These will be secured in a site plan agreement, which would be executed and registered prior to the Bill being enacted for this Zoning By-law amendment application. The removal of the holding symbol ("h") is appropriate at this time, to allow for the progression of the project. The proposed development and request to lift the holding symbol are consistent with the Provincial Policy Statement (2020) and conforms with A Place to Grow: Growth Plan for the Greater Golder Horseshoe (2020). This report reviews and recommends approval of the application to amend Zoning By-law 1480-2017 (OMB) to remove the holding symbol ("h").

3. Before introducing the necessary Bill to City Council for enactment, require the Owner to enter into a site plan agreement, pursuant to Section 114 of the City of Toronto Act, and such site plan agreement be registered on title to the lands.