Scenario 1
Mid-rise, about 64–107 units (needs rezoning)
A mid-rise apartment building, if the City approves a rezoning.
- Gross floor area7,013–9,818 m² (75,482–105,675 sq ft)
- Units64–107 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
- North York Centre (protected MTSA)Property report: Major Transit Station Areas
- Density
- FSI 2.5–3.5 × 2,805 m² = 7,013 m²–9,818 m²Mid-rise density FSI 2.5 to 3.5 (typical, needs confirmation)
- Units
- 82% sellable ÷ 75–90 m² = 64–107Average 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.
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: City of Toronto DC rates effective June 26, 2025, non-rental (singles and semis $137,846; multiples 2+ bedrooms $113,938; apartments 2+ bedrooms $80,690) · Toronto Catholic DSB education development charge, $3,893 per unit (Dec 3, 2025 to Dec 2, 2026; $4,193 from Dec 3, 2026). The TDSB levies none
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.