This is a rare, shovel-ready vacant lot located at 185 Gerrard Street East in the heart of downtown Toronto, fully zoned (RM) and approved for a 4-storey residential development featuring 28 self-contained microunits. All architectural drawings, site plans, and permits are in place, allowing for immediate construction. Ideally positioned just steps from Toronto Metropolitan University (TMU), George Brown College, major hospitals like St. Michaels and SickKids, and within walking distance to the Financial District, this property is perfectly suited for student housing, hospital staff residences, or young professionals seeking affordable, efficient urban living. Each unit is thoughtfully designed with modern layouts to meet the high demand for compact residential spaces. With exceptional walk, transit, and bike scores, and close proximity to public transit, parks, and daily amenities, this development offers significant rental upside and long-term value. Whether you're a developer looking to build and hold, an investor seeking strong rental returns, or a joint venture partner looking to collaborate on a turn-key downtown project, this site presents an outstanding opportunity in one of Torontos most supply-constrained and growth-oriented neighborhoods.
Address
185 Gerrard Street E
List Price
$3,499,000
MLS® Status
New
Expiration Date
2025-09-30
Property Type
Residential Freehold
Type of Dwelling
Vacant Land
Transaction Type
For Sale
Area
Toronto C08
Sub-Area
Moss Park
Region
Toronto
Lot Size Source
MPAC
Lot Depth
150
Lot Size Range (Acres)
Not Applicable
Lot Size Units
Feet
Lot Width
14.45
Parcel Number
211000141
Occupant Type
Vacant
Cross Street
Gerrard St. E. and Sherbourne St.
MLS® Number
C12310850
Listing Brokerage
HIGH POINT REALTY LIMITED
Postal Code
M5A 2E5
Tax Amount
$2,768.00
Tax Year
2025
Cable
Available
Central Vacuum
No
Hydro
Available
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Direction Faces
South
Tax Legal Description
Lot
Waterfront
No
Waterfront
None