Developers outline plan for downtown condos, apartments

The land covers 7.67 acres, or 3.1 hectares, on the northwestcorner of Front Street West andSpadinaAvenue

The land parcel was assembled in 2012 and 2013 by a joint ventureknown as The Well, which is jointly owned by RioCan REIT(TSX:REI.UN), Allied Properties REIT (TSX:AP.UN) and Diamondcorp.

The group says rental apartments and residential condominiumswill occupy nearly half of the the parcel's approved density.

The Well joint venture expects current tenants on the land toleave by the end of this year and development to begin in early2017.