Toronto's demand for housing is fuelling a meteoric rise in rental prices and creating the perfect conditions for new purpose-built rental projects to proliferate in the city.

One project percolating since 2020 aims to tear down properties at the northwest corner of the Bloor and Spadina intersection, proposing to replace the current buildings with a 35-storey rental tower.

The 350 Bloor West proposal from Starbank Development features a design by architects IBI Group that has undergone several tweaks since first proposed. The current plan calls for a height of 117.65 metres with a total of 39,936 square metres of gross floor area.

The latest design for the proposed rental tower at 350 Bloor Street West. Rendering by IBI Group.

Most of the building would be dedicated to residential space, including 28,824 square metres of space with a proposed 422 rental units.

A sculptural Jenga tower-like base would include 3,857 square metres of office space housed on the second and third floors. The remaining space includes ground-floor and concourse retail space, an "urban living room," and a connection to Spadina subway station.

This single building would come at the cost of an entire block spanning from 334-350 Bloor Street West and 2-6 Spadina Road. This includes local shawarma joint Zaad, Hong Kong-style tea shop Cuppa Tea, a 7-Eleven, and a Tim Hortons location, as well as offices and rental units.

Looking northwest to the existing buildings at the corner of Bloor and Spadina. Photo by Jack Landau.

While some will lament the independent businesses on the block, I think it's safe to say Toronto is in more desperate need of housing than the latest Timbiebs products and 7-Eleven Slurpees.

And while it would represent a substantial upzoning of the site and its current level of density, the winds of change are already sweeping through the area.

Just across Spadina to the east, a 37-storey tower is in the works at 320 to 332 Bloor Street West, while a 29-storey building is already gearing up for construction a bit further east at 300 Bloor West.