Sun Life proposes four-tower residential complex on Bank Street south

Sun Life wants to build four mixed-use highrises ranging from 25 to 40 storeys on the south end of Bank Street in a multi-phased plan that would see nearly 1,500 new housing units added to the neighbourhood. The financial services giant’s site plan includes a proposal for a 25-storey tower as well as a pair […]

Sun Life wants to build four mixed-use highrises ranging from 25 to 40 storeys on the south end of Bank Street in a multi-phased plan that would see nearly 1,500 new housing units added to the neighbourhood. The financial services giant’s site plan includes a proposal for a 25-storey tower as well as a pair of 34-storey buildings and a 40-storey highrise at 1822 Bank St., just north of Walkley Road near the Jim Durrell Recreation Centre. The 1.74-acre property, which is currently occupied by a single-storey retail plaza and a surface parking lot, is about 200 metres west of the new Walkley LRT station on the expanded Trillium Line. In planning documents recently filed with the city, consulting firm Fotenn describes the proposed development as “a new mixed-use, 15-minute community offering a dense residential neighbourhood, leveraging the site’s proximity to rapid transit, integrating Bank Street into the neighbourhood, and enhancing the corner of Bank Street and Walkley Road to serve as a model for future development along Bank Street.”

The document says the buildings would feature a total of 1,432 residential suites in a mix of unit sizes, including 1,009 studio and one-bedroom apartments averaging about 540 square feet and 423 units of two or three bedrooms averaging about 830 square feet.  About 9,000 square feet of ground-floor commercial space would be built in the 40-storey tower and one of the 34-storey buildings. The tallest tower would contain 422 suites, with the others containing from 262 to 393 units. The 40-storey tower would be located at the corner of Bank Street and Walkley Road on the southeast corner of the site. One 34-storey tower would front Bank Street, while the other would be built on the north end of the property. The 25-storey highrise would be located in the southwest corner of the site, fronting Walkley Road. Three new private streets would be constructed to connect the buildings. A three-level underground parking garage would include 979 spaces, while an additional 20 parking spots would be located at ground level. A half-acre public park would be built along the western edge of the site. A series of “parkettes” proposed for the southwestern corner of the site next to Walkley Road, at the corner of Bank Street and Walkey Road, and at the northeastern corner of the site along Bank Street would provide “safe pedestrian- and cycling-friendly connections from Bank Street through to Walkley Road and beyond,” the application says.  While the current Bank Street South Secondary Plan limits buildings to 16 storeys at the site, the developer says its proposal is “consistent with” the city’s push for more density near transit nodes. Sun Life says the project presents a “unique opportunity to build a new urban community capitalizing on existing amenities such as grocery and service stores, employment areas, and access to transit.”