Toronto, Ontario. What could be built here, how big, how long it takes to approve, and what the land could be worth to a builder.
Illustrative estimate from public records and your inputs. Not an appraisal, a zoning opinion, or a guarantee of approvals. LSG Realty Inc., Brokerage.
The lot
Lot area
409 m²Property report: lot area from the public parcel data
Frontage and depth
10.4 m × 39.5 mProperty report: estimated from the lot lines (not a survey)
Inside the Spadina station area, but the lot is small for a mid-rise building: it would need to be assembled with neighbouring lots.
3 plausible scenarios
Scenario 1
Keep the house and add 2 units
Keep the existing house, add a basement or in-house suite and a garden suite.
Added floor area65–185 m² (700–1,991 sq ft)
Units2–3 units incl. the house
Approval pathAs of right (zoning review and building permit)
Timeline3–6 months approvals + 6–12 months construction
How we estimated it
Additional units
up to 2Property report: second units and garden suites screen
Second unit
65 m²Second unit (basement or in-house) about 65 m² (typical, needs confirmation)
Rear yard
21.5 m deep, 224 m²Existing house about 12 m deep (typical, needs confirmation)
approvals 3–6 months, construction 6–12 monthsApproval and construction months (typical, needs confirmation)
Key risks
Screen: No public lane found along the lot (a laneway suite needs 3.5 m of lot line on a lane)
In the West Annex – Phase II heritage district: design is reviewed.
Garden and laneway suites need fire access from the street and room for servicing; check both early.
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).
Second and third units are exempt. 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 value added.
Scenario 2
New house with 2 additional units
Replace the existing house with a new house built with additional units (for example a basement suite and a garden suite).
Gross floor area327–409 m² (3,519–4,398 sq ft)
Units2–3 units
Approval pathAs of right (zoning review and building permit)
Timeline3–6 months approvals + 12–18 months construction
204 m² × 2 = 409 m² (low end 80%)A house uses about 80% of the full two-storey envelope (typical, needs confirmation)
Additional units inside or beside it
up to 2Property report: second units and garden suites screen
Timeline
approvals 3–6 months, construction 12–18 monthsApproval and construction months (typical, needs confirmation)
Key risks
In the West Annex – Phase II heritage district: design is reviewed.
Coverage and setbacks are typical values; the municipal by-law may differ.
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).
The new house gets a credit for the house it replaces; its second and third units are exempt. 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.
Scenario 3
Toronto multiplex, 4–6 units
Replace the house with a 6-unit multiplex under Toronto's multiplex rules.
Gross floor area439–556 m² (4,721–5,980 sq ft)
Units4–6 units
Approval pathMinor variance (Committee of Adjustment), then building permit
Timeline6–12 months approvals + 12–18 months construction
Not permitted under today's zoning. Shown to illustrate what an approval could allow; approval is not assured.
How we estimated it
Units
up to 6Property report: City of Toronto multiplex screen
+ 117 m²Basement unit: 80% of the footprint (typical, needs confirmation)
Timeline
approvals 6–12 months, construction 12–18 monthsApproval and construction months (typical, needs confirmation)
Key risks
Screen: Heritage Conservation District
In the West Annex – Phase II heritage district: design is reviewed.
Lot coverage (Lot Coverage Overlay or Chapter 900 exceptions) still applies and may cut the footprint.
Five and six units lose the four-unit development charge and parkland exemptions.
The screen flags constraints: a minor variance may be needed.
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).
Up to four units: exempt. Five or six: every 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.
Get a free feasibility review from an LSG land specialist
LSG Realty's parent company has 20 years of land and development work in the GTA. A land specialist will check the zoning, the numbers and the approval path with you, at no cost.
Illustrative estimate from public records and your inputs. Not an appraisal, a zoning opinion, or a guarantee of approvals. LSG Realty Inc., Brokerage.
