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That switch — approved condo to proposed rental — is the most interesting thing happening on this street right now, and it is worth understanding whichever side of the market you are on.
1156 The Queensway
| Field | What the record says |
|---|---|
| Address | 1156 The Queensway, Etobicoke, Toronto |
| Developers | Leader Lane Developments and ELM Developments |
| Architect | Core Architects |
| Storeys | 12 |
| Suites | 220 |
| Status | Under construction, per UrbanToronto |
There is less on the public record for 1156 than for the bigger projects on this street, and I am not going to pad it out with figures I cannot stand behind. What is verified is above. Occupancy timing, suite mix, pricing and amenities are not published anywhere I would cite.
1230 The Queensway, and the condo-to-rental switch
This site has had three different unit counts in under two years, and each one is attached to a date:
| When | What was on the table | Units |
|---|---|---|
| October 2024 | Original application, by Starbank | 150 |
| 25–26 June 2025 | Approved by City Council: 11 storeys, condominium | 143 |
| 7 May 2026 | Resubmitted site plan: 13 storeys, purpose-built rental, by ELM Developments and Leader Lane Developments (Turner Fleischer, architect). Under review | 175 |
UrbanToronto reads the current scheme as 14 storeys once the rooftop amenity level is counted. The application is under review; nothing about the rental version is approved yet.
Why an approved condo becomes a rental
I want to be careful here, because this is where commentary usually outruns the evidence. What is documented is the sequence of applications. Why a specific developer changed tenure on a specific site is not documented, and I am not going to invent a motive.
What I can tell you is what it means for you:
- If you are a buyer: a rental building next door is not a negative for your value, and the common assumption that it is does not hold up. What matters more is the building’s massing, its shadow, its loading and its parking — the same things that matter about any neighbour.
- If you are a landlord on this street: 175 new purpose-built rental units within walking distance is real competition for your tenant, arriving all at once rather than trickling onto the market. That is a genuine consideration for anyone underwriting a rental hold here.
- If you are watching the corridor: a developer taking an approved condominium and rebuilding the pro forma as rental is a data point about the condominium market, and it is not the only one on this street. Maxium at 875 targeted a construction start in late 2025 and, as of August 2026, has not visibly begun.
My read
These two sites do not get headlines, and that is exactly why they are useful. They show what is actually happening on The Queensway underneath the 4,000-unit masterplans: mid-rises getting built one at a time, some switching tenure, all of them slower than the renderings suggested. If you want to know what this street will feel like in 2030, watch these buildings, not the proposals.
Trying to work out what is going up near a specific address?
Send me the address. I will pull the City’s development application record for the block, tell you what is approved versus merely proposed, and give you a straight read on what it means for the view, the noise and the value. This is the part of the job my office being on this street actually helps with.
connect@jatindua.com · 437-987-1925 · Book a free consultation
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Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
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Estimated market value
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Market context
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Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
Frequently asked questions
What is being built at 1156 The Queensway?
A 12-storey building with 220 suites by Leader Lane Developments and ELM Developments, designed by Core Architects. UrbanToronto records it as under construction.
Is 1230 The Queensway a condo or a rental building?
It was approved by City Council in June 2025 as an 11-storey, 143-unit condominium. In May 2026 the developer resubmitted a site plan for a 13-storey, 175-unit purpose-built rental building. The rental version is under review and is not approved.
Does a rental building nearby hurt condo values?
Not on the evidence. What affects a neighbouring building’s value is its massing, shadow, loading and parking, not the tenure of the people living in it. A concentration of new rental supply is, however, a real competitive factor for an investor underwriting rent on a nearby unit.
How many units have been approved on The Queensway recently?
Individually a great deal. See the corridor-wide summary for the approved, appealed and proposed projects, each with its City of Toronto file number and current status.
Related reading
- Every condo building on The Queensway, one list
- The Queensway development pipeline in 2026
- What Queensway condos actually sold for
- Getting around from The Queensway
- Why buy a condo on The Queensway?
Sources
Every figure on this page traces to one of these. Checked 30 August 2026.
- UrbanToronto database — 1156 The Queensway. Project record: storeys, unit count, development and design team, construction status. Accessed 30 August 2026.
- UrbanToronto — “Revised 1230 The Queensway Grows, Shifts from Condos to Rental” (June 2026). The reporting on the tenure change, the revised storey count and the revised unit count. Accessed 30 August 2026.
- City of Toronto — Council item 2025.EY23.5, 1230 The Queensway. The June 2025 Council approval of the 11-storey, 143-unit condominium scheme. Accessed 30 August 2026.
- City of Toronto — Notice of Application, 1230 The Queensway (28 February 2025). The original application notice and its unit count. Accessed 30 August 2026.
- City of Toronto Open Data — Development Applications dataset. The City’s own machine-readable register of application file numbers, descriptions and statuses. Accessed 30 August 2026.
- City of Toronto — Application Information Centre. Free public search of development and condominium applications by address. Accessed 30 August 2026.
About the author — Jatin Dua, Etobicoke real estate agent
I’m a licensed Realtor with RE/MAX Quantum Realty at 799 The Queensway in Etobicoke. My office is on this street, which is the only reason I can write pages like this one: I walk past these sites, I read the City files, and I check the numbers against the source rather than repeating what a marketing page says. I work with buyers, sellers and investors across Stonegate–Queensway, Mimico, Humber Bay Shores, New Toronto, Long Branch and Alderwood.
Questions about a specific suite or a specific site? connect@jatindua.com or 437-987-1925.