Year in Review: Tracking Lifetime Developments in 2022

While the last quarter of 2022 has been characterized by numerous challenges for everyone, including Toronto’s development industry, the easing of restrictions and gradual return to normalcy made for an important year in terms of getting back on track. For Lifetime Developments, a company that has learned to thrive with a full plate of active projects, the return to ‘normalcy’ meant they were busier than ever, but according to Principal Brian Brown, being busy is exactly where the company wants to be.

“We are tremendously proud of everything that was accomplished in 2022,” said Brown in an end-of-year statement. “While we are ending the year on a high, there have certainly been interesting shifts in the market across the board. That said, we remain extremely optimistic about the year to come.” For years now, Lifetime’s approach to managing their suite of active projects has been to maintain a wide spread across the different stages of development, with planning and ideation, submitting applications, marketing, and construction all taking place simultaneously at any given time. In order to provide a complete update on everything the company was working on in 2022, we have prepared a year in review, Lifetime edition.

Lifetime entered 2022 in a strong position, with two significant projects on the edge of completion. The pair of high-rise residential developments, Panda Condominiums and Liberty Market Tower, both welcomed occupancy before the end of February, allowing Lifetime to make a total of 839 new dwelling units available in two areas of central Toronto. Both towers, standing at 30 and 28 storeys respectively, feature grade level retail units, which are a key aspect of Lifetime’s goal to deliver mixed-use projects that contribute to the character of their neighbourhood.

On the construction front, Lifetime began 2022 with two projects actively being built, with a third joining the list by the late summer. XO Condos, the 14-storey Parkdale mid-rise with 297 units, had a year of milestones, culminating in a topping off celebration in October. The moment was of particular significance, considering the construction process began in the early days of the pandemic, and a myriad of logistical challenges were overcome to keep the project moving. Just under three years later, exterior finishes are appearing extensively while the lower half of the building sees glazing installed to seal the space and permit interior work.

The second phase of XO Condos, dubbed XO2, sits kitty corner from its 14-storey sibling, and began its construction journey in the summer when demolition of the low-rise retail building kicked off. By August the site was cleared and shoring had begun, and with another four months of foundation work, shoring walls have been formed around the entire perimeter with excavation continuing.

Oscar Residences, on the other hand, entered the year with blank canvas. The Dupont Street site was cleared and ready for shoring by the end of 2021, offering a comprehensive snapshot of how much can change in just one year. The future 9-storey midrise powered through excavation and now stands three storeys above grade with traces of both the floor and columns of the fourth level at parts of the construction site.

Looking at the progress made in advancing the various projects in the planning stage that Lifetime had in their pipeline over the course of 2022, three developments gained approval for Zoning By-law Amendment applications, positioning them well for launching in 2023. One of those projects was 200 Queens Quay West, a proposed 59-storey tower that will be Lifetime’s statement piece in the Toronto Waterfront Skyline. Located just south of the CN Tower, the project will eventually deliver 1,002 new units, activating what is now an under-utilized site — currently occupied by an 8-storey parking garage — in the process. Rezoning was also approved for Lifetime’s 36 Eglinton West and Panda Markham projects, while a site at 141 Roehampton in Midtown is earlier in the planning process.

Beyond Lifetime’s flurry of activity in the development industry over the course of the year, the company also advanced their philanthropic efforts in a number of ways. $3-million was raised through the Lifeline Foundation, providing funding to support local communities, and the Homecourt Advantage program was launched to revitalize public basketball courts across the City. 2023 is set to be another big year for Lifetime Developments.

Source: Urban Toronto