Developed by Lanterra Developments, this $ 38.5 million dollars project as proposed is set to feature two 58 storey condo towers above a 7 storey podium consisting of retail uses at ground level. Because the subway runs underneath the site parking will be included above-ground in the podium. Design will be by architectsAlliance. This property will have approximately have 960 residential units and ground floor retail space will make this a thriving self-contained community.The north tower lobby would sit on Maitland Street with the south tower lobby fronting on Alexander Street.

501 Yonge Street is an interesting property as it doesn't really fit in architecturally with the rest of the Yonge Street retail strip.This building is newer than the rest due to the fact that it is built over where the Yonge subway veers away from Yonge as it heads north to Bloor. The previous retail was demolished in the 1950s for the subway construction, and this strip was rebuilt years after subway construction was done. The purchase includes the retail along Yonge Street along with the parking in the back.

For 'green' eco-friendly commuters, the property has plans for 940 bicycle spaces with direct access to the Bloor/Yonge subway, nearby.

The area is convenient to local Yonge Street shops and restaurants as well as the thriving Chrch Street and Bloor Street communities.

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