Cromwell Management Proposes New 45-Storey Mixed-Use Development in Toronto

📅 3 days ago

Cromwell Management has filed plans for a new 45-storey mixed-use building in Toronto, adding to its recent development proposals in the city, amidst a growing shift towards rental housing.

Cromwell Management, a Montreal-based developer, is actively pursuing a series of development proposals in Toronto, having recently submitted its third major application since this spring. The latest initiative involves the construction of a 45-storey mixed-use tower located at 525 Eglinton Avenue East, conveniently situated just a five-minute walk from the newly inaugurated Leaside Station of the Eglinton Crosstown Light Rail Transit (LRT).
This ambitious project is designed to replace an existing 10-storey rental building on the site, proposing a total of 526 residential units, which includes 53 replacement rental units alongside 473 new rentals. The unit distribution will consist of 45 bachelor apartments, 342 one-bedroom units, 113 two-bedroom units, and 26 three-bedroom units, all of which are planned for the second through the forty-fifth floors.
As of June 2026, the site statistics for the proposed development detail a height of 45 storeys (496 feet, including the mechanical penthouse), with a residential gross floor area (GFA) of 373,130 square feet and a retail GFA of 3,509 square feet. Additionally, the project will feature an indoor amenity space of 11,151 square feet, an outdoor amenity area of 6,178 square feet, and provisions for 84 vehicle parking spaces and 291 bicycle parking spots.
Renderings provided by Wallman Architects depict the building featuring a six-to-seven-storey podium, designed to gradually increase in height to seven storeys at the western property line adjacent to 503 Eglinton Avenue East. The podium's first floor will incorporate retail space characterized by floor-to-ceiling glass, creating a seamless connection to the street, while the upper levels will include a dedicated amenity floor.
Cromwell’s planning letter highlights the site's historical context, indicating that the area has traditionally been characterized by auto-oriented land uses that supported prior suburban characteristics, including tower-in-the-park apartment buildings, commercial plazas, and other retail establishments. However, with significant investment in transit infrastructure such as the Eglinton Crosstown LRT, the neighborhood is undergoing a transformation, increasingly accommodating high-rise residential and mixed-use developments.
Currently, there are over a dozen projects at various stages of entitlement in the vicinity, with notable developments including a 40-storey building at 589 Eglinton Avenue East by Terracap and a 46-storey tower at 1802 Bayview Avenue from Gairloch Developments and Harlo Capital, both of which have received approval. Should Cromwell's project gain the necessary approvals, it will likely rank among the tallest buildings in the area.
In addition to this proposal, Cromwell recently put forth plans for two additional rental towers at 6200 Bathurst Street, measuring 39 and 43 storeys, and a striking 75-storey skyscraper at 55 Isabella Street. Collectively, these three projects aim to deliver approximately 2,400 rental units, reflecting a broader trend in Toronto's development landscape that favors purpose-built rental housing, particularly as the condominium market experiences challenges.

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