{"id":552664,"date":"2026-03-22T05:57:11","date_gmt":"2026-03-22T05:57:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/552664\/"},"modified":"2026-03-22T05:57:11","modified_gmt":"2026-03-22T05:57:11","slug":"a-toronto-parking-lot-is-still-going-for-4-million-even-under-power-of-sale","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/552664\/","title":{"rendered":"A Toronto parking lot is still going for $4 million even under power of sale"},"content":{"rendered":"

Turns out paved paradise in Toronto still costs almost $4 million \u2014 even when the bank is just trying to get its money back.<\/p>\n

Case in point: 361 Davenport Rd., a vacant parking lot that technically falls under residential land, is currently listed for $3,999,000<\/a> under power of sale.<\/p>\n

The property sits in the Annex, just steps from Yorkville, and is being marketed as a power-of-sale opportunity with existing approvals for a boutique development.\"361<\/p>\n

A South view of the\u00a0rendering of the\u00a0proposed 7-storey condominium and office building designed by KFA Architects and Planners and ElasticoSPA for Bianca Pollak on the southwest corner of Davenport Road and Dupont Street.<\/p>\n

The listing notes that it’s being sold “as is,”\u00a0which feels a little funny when the main thing being sold is pavement, but okay.<\/p>\n

Still, this isn’t just some random patch of asphalt with delusions of grandeur.<\/p>\n

According to a City of Toronto planning report<\/a>, the site has conditional approval for a seven-storey mixed-use building containing 16 residential units along with retail or office space at grade.<\/p>\n

The proposal, which was submitted back in 2020<\/a>, also includes one level of underground parking with seven vehicle spaces and 16 bicycle parking spaces.<\/p>\n

\"361<\/p>\n

East view rendering of the proposed 7-storey condominium and office building designed by KFA Architects and Planners and ElasticoSPA.<\/p>\n

There are even some very cool-looking renderings<\/a>\u00a0from architects KFA Architects and Planners and\u00a0Elastico SPA\u00a0showing what the future building could look like.\u00a0<\/p>\n

But it appears the developer behind those plans,\u00a0Bianca Pollak, never managed to get out of the pre-construction phase, so the\u00a0location is really the only thing this neighbourhood parking lot has going for it.\u00a0<\/p>\n

But to be fair, it is a pretty strategic spot.<\/p>\n

\"361<\/p>\n

Southwest view of the\u00a07-storey condominium and office building from Admiral St.<\/p>\n

The area around Davenport and Dupont has been steadily evolving, and the site is close to transit, parks, restaurants, caf\u00e9s, and multiple post-secondary institutions, while also sitting near some of the city’s priciest postal codes.<\/p>\n

The listing leans hard on that central location and walkability to Yorkville, which, in Toronto real estate speak, is basically code for “yes, it’s expensive, but look where you are.”<\/p>\n

Then again, this is Toronto, where even dirt<\/a>\u00a0with paperwork can carry a price tag that would buy you an actual mansion in plenty of other cities.<\/p>\n","protected":false},"excerpt":{"rendered":"Turns out paved paradise in Toronto still costs almost $4 million \u2014 even when the bank is just…\n","protected":false},"author":2,"featured_media":552665,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194291],"tags":[214498,49,48,5060,42368,3302],"class_list":["post-552664","post","type-post","status-publish","format-standard","has-post-thumbnail","category-toronto","tag-214498","tag-ca","tag-canada","tag-davenport","tag-road","tag-toronto"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/552664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=552664"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/552664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/552665"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=552664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=552664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=552664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}