If there's one thing that Toronto can't get enough of when the weather turns blissfully pleasant, it's outdoor spaces. Specifically, patios.

One of Canada's leading real estate companies is set to reinvigorate a tucked-away corner of the city's quiet downtown core.

Dream, which is behind some of the country's biggest planned development projects, has been quietly transforming a narrow strip in the heart of the Financial District into an oasis launching hopefully soon.

The latest development is a stunning addition to the company's portfolio of historic commercial and office spaces.

Dubbed the Dream Collection, the project takes existing buildings and outfits them with cutting-edge technology and other modern upgrades including sustainable designs. Many of its office buildings are mixed use-properties that preserve the past's beauty while building value for modern conveniences.

Located at 69 Richmond Street West, The Alleyway was a small sliver infill building sandwiched between the building housing The Wine Academy and the Graphic Arts Building.

The project unites eight Bay Street buildings by serving as a collective back porch, aiming to create "exciting new pathways between Richmond and Temperance Street" and is billed to "enhance urban life in Canada's financial and employment hub."

Renderings depict a vibrant and energetic space that's enhanced with lighting and retail spaces. Other details suggest that there will be entrances at 366 Bay Street and 67 Richmond Street West, plus promises that the corridor will be animated "with art and a mix of passive and active programming."

If anything, it will link the Dream Collection of buildings in the area and provide just one more outdoor space for the city's patio lovers.

While Toronto's own award-winning architecture studio, Partisans, and Architecture for All have both drafted proposals for the site, Dream instead opted to convert the building into a laneway pedestrian passage and patio space.

The progress has been documented in a local real estate forum with recent posts showing the area as being almost complete behind a steel gate that's framed by glazed bricks.