Scenario 1
Mid-rise, about 226–379 units (needs rezoning)
A mid-rise apartment building, if the City approves a rezoning.
- Gross floor area24,758–34,661 m² (266,487–373,082 sq ft)
- Units226–379 units
- Approval pathRezoning (Zoning By-law Amendment) and site plan; not permitted today
- Timeline12–24 months approvals + 24–36 months construction
Not permitted under today's zoning. Shown to illustrate what an approval could allow; approval is not assured.
How we estimated it
- Station area
- Highway 404 (protected MTSA), target 160Property report: Major Transit Station Areas
- Official Plan
- Urban AreaProperty report: Official Plan designation
- Density
- FSI 2.5–3.5 × 9,903 m² = 24,758 m²–34,661 m²Mid-rise density FSI 2.5 to 3.5 (typical, needs confirmation)
- Units
- 82% sellable ÷ 75–90 m² = 226–379Average unit 75 to 90 m² (typical, needs confirmation)
- Timeline
- approvals 12–24 months, construction 24–36 monthsApproval and construction months (typical, needs confirmation)
Key risks
- Not permitted today: a mid-rise building needs a rezoning (and site plan approval); the outcome is not assured.
- The local Official Plan may also need an amendment to reach this height and density.
- Protected station areas can require affordable units (inclusionary zoning).
- Height and density depend on angular planes, shadow, parking and the City's urban design guidelines.
- Servicing: Limited: reserved for priority projects. Larger projects may wait for water and sewer allocation.
Rough budget and residual land value
Enter your own figure. We could not verify the Altus Group 2026 Canadian Cost Guide ranges (free download at altusgroup.com/featured-insights/canadian-cost-guide); use its range for this building type in your market, or a builder's quote.
Your own estimate of what the finished space sells (or is worth) per sq ft. This public tool does not use MLS® sales data.
Design, permits, consultants, legal, insurance and marketing: commonly 15–25% of hard cost (typical, needs confirmation).
Every new unit after the first (credit for the existing house) is charged. Rates: York Region development charges, By-law 2026-20, effective May 21, 2026, full water and wastewater (single/semi $84,718; multiple $72,392; apartment 700 sq ft or more $58,721) · Education development charge in York Region (public and Catholic boards), $8,934 per dwelling (combined guide effective July 1, 2026) The local municipality's own development charge is not in our table yet: add it to the per-unit figure.
Construction loan rate (typical, needs confirmation).
On average about half the cost is drawn over the build (typical).
Builder's margin on revenue: commonly 12–20% (typical, needs confirmation).
Share of gross floor area that is sellable or rentable (walls, stairs and halls excluded).
Enter a hard cost and a sale value per sq ft to see the residual land value.