As seen on Urban Toronto, October 1, 2015 1:33 pm | by Jack Landau
Perhaps one of Toronto’s most dramatic neighbourhood transitions in progress is that of the Dundas and Jarvis area. A part of the city recently considered somewhat undesirable, the area surrounding the intersection is seeing a renaissance of investment, fueled by a surging real estate market and a growing demand for student housing in the vicinity of Ryerson University. Another page was turned in this area’s growth saga yesterday, when ground was ceremonially broken at the future site of Gupta Group’s Dundas Square Gardens.
To celebrate the occasion, Easton’s Group/The Gupta Group Chairman & CEO Dr. Steve Gupta and his daughter, Chief Operating Officer Reetu Gupta were joined by Dipika Damerla, Associate Minister of Health and Long-Term Care and Wellness, Michael Thompson, Chair of Toronto’s Economic Development and Culture and Ward 37 City Councillor, and Barbara Lawlor, President of Baker Real Estate.
The 45-storey, Page + Steele / IBI Group Architects-designed development will rise from the site of the Hilton Garden Inn Toronto City Centre Hotel, located at the northeast corner of Dundas and Jarvis. The hotel is scheduled for closure in December, with demolition expected shortly thereafter. Rising from the former footprint of the hotel, the new tower will add 978 units to the quickly gentrifying area. In addition to contributing new residential density to the community, Easton’s Group/The Gupta Group has donated $1,000,000 to Ryerson University, consisting of $1,000 from every unit sold at Dundas Square Gardens and a top-up from Steve Gupta himself.