Item - 2023.TE3.5

The Toronto and East York Community Council recommends that:

1. City Council amend Zoning By-law 1151-2022 (OLT) for the lands at 234-250 King Street East substantially in accordance with the draft Zoning By-law Amendment attached as Attachment 2 to the report (January 31, 2023) from the Acting Director, Community Planning, Toronto and East York District.

2. City Council authorize the City Solicitor to make such stylistic and technical changes to the draft Zoning By-law Amendment as may be required.

The Toronto and East York Community Council held a statutory public meeting on February 23, 2023 and notice was given in accordance with the Planning Act.

This application proposes to remove the holding symbol ("h") from Zoning By-law 1151-2022 (OLT), which permits a mixed-use development including residential and retail uses in a 43-storey building on 234-250 King Street East and 162 Princess Street. The application to remove the holding symbol ("h") was submitted on October 12, 2022.

Zoning By-law 1151-2022 (OLT) includes a holding symbol ("h") on the lands subject to conditions. The conditions for the removal of the holding symbol require the City to be in receipt of updated Functional Servicing Report, Stormwater Management Report, and Hydrogeological Review subject to the satisfaction of the Chief Engineer and Executive Director, Engineering and Construction Services, in consultation with the General Manager, Toronto Water. Additional conditions include the requirement to enter into and register a Section 37 Agreement, as well as enter into and register a Heritage Easement Agreement. All of the above conditions have been satisfied, and the removal of the holding symbol ("h") is appropriate at this time to allow for the progression of the project.

The proposed development and request to lift the holding symbol are consistent with the

Provincial Policy Statement (2020) and conforms with A Place to Grow: Growth Plan for

the Greater Golder Horseshoe (2020).

This report reviews and recommends approval of the application to amend Zoning By--law 1151-2022(OLT) to remove the holding symbol ("h").