The Canada Post building on Avenue Road might be bought up by a developer as the Crown corporation searches for a more suitable location in its bid to modernize mail service across the country.
Located at 1780 Avenue Rd., it is among three midtown Canada Post properties that are currently up for grabs.
One, located at 2384 Yonge St., north of Eglinton Avenue, is a national historical site. It was the former home of William Lyon Mackenzie’s headquarters leading up to the Upper Canada Rebellion of 1837. Another is located on Charles Street, near Yonge and Bloor.
Eugene Knapik, a Canada Post spokesperson, said that the Crown corporation issued requests for proposals in pursuit of buyers that can provide it with sites in these areas that will meet the mail service’s new needs — land swaps, so to speak. In an advertisement taken out by Canada Post, all three midtown locations are billed as having “potential for significant density.”
John Robb, a commercial sales representative at Bosley Real Estate with knowledge of the request for proposals, said that all the biggest developers in the city are vying for the properties. Robb identified the properties in question as high-end condo sites.
“All of those sites are pretty much stand-alone sites with the exception of the Avenue Road [site], which is one that they would need to assemble some adjacent properties [in order to build condos],” he said.
Following the Avenue Road Avenue Study, which paved the way for developments of up to seven storeys, the upscale shopping district has already started to see mid-rise condo applications.
Coun. Karen Stintz said that she was aware of the request for proposals and would be monitoring the situation.
“That building is part of the Avenue and would be subject to those planning guidelines,” Stintz said.