Congratulations To Amexon For Office-to-residential Conversion

In April of this year, Amexon Development Corporation, a leading Toronto leading real estate developer, announced e-lofts, a new rental community with a focus on sustainability and connectivity. Located at Eglinton Avenue East and Don Mills Road, e-lofts will transform an existing 15-storey office building into a vibrant residential property, offering loft-style suites. Amexon is the owner and manager of the building, which is nearly vacant. The decision was based on the fact that the building size and floor plates are conducive to conversion. In addition, site services are already in place, making the development less costly than demolishing and starting over.

This is in line with a phenomenon happening across North America, with the glut of vacant office buildings requiring a major rethink when it comes to making them viable again. Part of the reason is the COVID 19 effect, which resulted in the masses engaging in hybrid work. Nowadays, we are seeing a transition from office to residential, especially purpose-built rental housing. In addition to addressing housing shortages while minimizing environmental impact as opposed to new builds, these conversions serve to revitalize urban neighbourhoods.

This is the kind of creative thinking we need to address housing affordability and rental supply. Kudos to Amexon for rejuvenating this office building and making it a vibrant residential connection between the lush nature of the Don River parklands and the urban animation of Eglinton.