Toronto gas stations have been dying off at an accelerated pace due to rising land values and a crushing housing crisis, and it looks like locals could soon lose another spot to fill their tanks if a new condo proposal is approved.

A May proposal from Skale Developments spells the potential end of an Esso/Circle K gas station and service centre at 4696 Yonge Street, midway between Highway 401 and Sheppard.

The proposal would see the site levelled and replaced with a 40-storey condo building rising just over 131 metres in height. Its design by Turner Fleischer Architects features a tower-on-slab design boasting rounded edges and white brick finishes.

A total of 536 condominium units are proposed, along with just over 478 square metres of retail space within the base of the tower.

The plan includes an underground parking garage housing 178 spaces, most offering electric charging ports.

For a condo tower situated just blocks from a subway interchange, this doesn't look great on paper. However, one must remember that this is a site in North York just a stone's throw north of the busiest highway corridor in North America.

So, all things considered, it's a fair compromise that suggests a mix of residents relying on both the nearby highway and subway lines to get around the city.

In addition to the parking spaces and subway proximity, the plan includes 385 bicycle parking spaces.

The proposal is one of many high-rise plans for the increasingly concentrated strip of density hugging Yonge Street in North York, flanked by low-rise housing in a toned-down local version of that aborted "The Line" project proposed by Saudi Arabia and subsequently laughed out of existence.

Skale's proposal for this gas station comes amid local criticism of another of the developer's projects on a former gas station site at 1375 Queen Street West, under scrutiny for alleged petrochemical fuel odours wafting in the neighbourhood.