March 2009 update:  Unfortunately the OMB ruled against the city and our neighbourhood – demolition of the site is now underway.  Much appreciation to the local neighbours who did their part to try and save this home.
An application was made to the City of Toronto, Committee of adjustments to sever the property at 4 Astoria.  
Councillor Frances Nunziata arranged for a bylaw representative and the developer to discuss the proposal, which included 4, 2 story houses of approximately 2000 square feet all with entrances from Elhurst Court.  Three of the houses would have approx 8.5M frontage, and the 4th (closest to Astoria) would have approx 10M frontage, keeping all existing trees.   The area is zoned R2, and the proposal met all the current bylaws associated with the zoning.   About 25 residents attended the meeting expressing concerns from various aspects including: change in neighbourhood character: impacts to storm sewers: proximity to neighbours: and building height. 
The committee of adjustments hearing was held on August 7. Many residents of both Astoria and Elhurst  sent in letters, faxes or attended in person to express their concerns.  The committee of adjustment ruled against the severence, clearly demonstrating that the community has a voice.  Of course there is an appeal process, so we need to wait and see what happens next.