Castlepoint / Tower Automotive development news

An article on gives some detail about what Castlepoint has planned for the vacant Tower Automotive property on Sterling Rd.:

Castlepoint going ahead with downtown Toronto studio development
February 10, 2011 by Etan Vlessing

But Alfredo Romano, a principal at Castlepoint, told Playback Daily that he will shortly submit a commercial development application to Toronto City Hall for a ‘mix-used’ studio on Sterling Road in Toronto, on the derelict site of the former Tower Motors factory.

Now Romano’s plan is to develop the Sterling Road site as a commercial studio that will rent out space to low-budget film, new media and music producers, among others.

The original plans for the redevelopment included a mix of around 140,000 square feet of existing building space that requires refurbishing, including a 10-storey building originally built in 1919, and another 100,000 square feet of quality studio space.

Read the complete article here.

Of course, this would still have to be approved by the City, and would have to fit within the property's current "employment lands" designation. If "mixed use" includes housing, the proposal may be rejected again, like the previous proposal was.