In 1978, Terracap made its initial acquisition on Yonge Street by purchasing a store located at 1429 Yonge Street. Building on this investment, the company acquired adjacent stores in 1982, solidifying its presence in this prime location. The property sits just south of the southeast corner of Yonge & St. Clair, a vibrant intersection in one of Toronto’s most prestigious residential neighborhoods. Nestled between Rosedale and Forest Hill, the area is renowned for its tree-lined streets, stately homes, and access to top-tier amenities, including convenient subway connections, making it highly desirable for both residents and businesses.

Over the years, Terracap has strategically assembled the majority of the block, expanding its holdings to encompass the addresses from 1417 to 1429 Yonge Street. This significant land assembly is a key step in the company’s vision for the site’s future. The plan is to transform the property into a high-quality mixed-use development that integrates seamlessly into the neighborhood’s character while meeting the needs of modern urban living.

The proposed redevelopment includes over 225,000 square feet of residential space, offering a range of housing options to attract a diverse community of residents. Additionally, the project will feature 15,000 square feet of retail space, designed to enhance the vibrancy of the area and provide convenient shopping and dining options. This balanced approach aims to create a dynamic, multi-functional space that adds value to the neighborhood while respecting its historic charm.

Planning work for the redevelopment is currently underway, with Terracap working closely with city planners, architects, and community stakeholders to ensure the project aligns with local needs and regulatory requirements. Once complete, the development is expected to become a landmark destination, contributing to the continued evolution of the Yonge & St. Clair area as a thriving urban hub.