GreyBrook logotype
Investor Login Contact Us

Greybrook Invests $29,250,000 in a High-Rise Residential Development Project with Stafford Homes in Toronto, Ontario

Date:
October 3, 2023
Share:

New residential development expands the firm’s presence in the Toronto core in the city’s St. Lawrence neighbourhood near the popular St. Lawrence Market.

On October 3rd, Greybrook successfully closed on a $29,250,000 investment completed by its managed issuer. The funds will be used to acquire and oversee the development of a prime parcel of land located just east of Yonge Street on Adelaide Street East in Toronto, Ontario. Together with our developer partner, Stafford Homes, Greybrook intends to develop the property into a high-rise condominium residence with a significant number of the units offering unobstructed views of the Toronto waterfront.

Primely located in the heart of Downtown Toronto within the St. Lawrence neighbourhood, the development site is directly adjacent to St. James Park and is steps away from St. Lawrence Market and a bustling array of shops, restaurants, cafés, movie and performing arts theatres on Yonge Street. The site is in close proximity to multiple Toronto landmarks, including the CF Toronto Eaton Centre, Union Station, Scotiabank Arena, Yonge-Dundas Square, Toronto Metropolitan University, the vibrant Financial District, the historic Distillery District, Sugar Beach Park, and the scenic Harbourfront, offering a diverse range of attractions and amenities to explore.

The site is exceptionally well-connected offering easy access to the Toronto Transit Commissions (‘TTC’) King and Queen subway stations, both of which are conveniently accessible within a short 10-minute walk, and the TTC’s 504 and 501 streetcars that pass near the site. Future residents will be only a short walk to a proposed future Metrolinx Ontario Line Station, expected to open in 2031, further enhancing transportation options and connectivity. The site is also less than a 5-minute drive to the Gardiner Expressway and Don Valley Parkway, easily connecting future residents to other parts of Toronto and the Greater Toronto Area.

“Opportunities for development within the heart of Toronto’s core are becoming increasingly scarce, and there are only a handful of sites that come close to the overall appeal of this one,” said Jared Berlin, Executive Director Asset Management, Greybrook Realty Partners. “With the record population growth that we have seen in the past two years and the acute housing supply shortage in Toronto, we are very excited to have the opportunity to work on a project that will bring more housing to the city, particularly in an area that will provide access to so much without the need for a car.”

Forward-Looking Information

This news release contains forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. Greybrook is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise.

Latest Insights

Greybrook and PMG Celebrate Topping Off of Society Atlanta

Multi-Family
November 29, 2023

Slated for completion in Fall 2024, the property will bring 460 stylish residential units, over 87,000 square feet of office space and 14,500 square feet of retail space to Midtown Atlanta Greybrook and PMG are pleased to announce the topping…

Society Wynwood Begins Pre-Leasing

Multi-Family
November 27, 2023

Slated to welcome residents in February, Society Wynwood will bring 318 chic residences and 50,210 square feet of commercial space to the heart of Miami’s famed Wynwood Arts District Greybrook and PMG are pleased to announce that pre-leasing has commenced…

Evoke Modern Towns Prepares for Final Occupancies

November 24, 2023

The majority of homes are now occupied, and final unit closings are expected to be completed by the end of Q1 2024. Alongside developer partner Treasure Hill, our Evoke Modern Towns development has brought 114 townhomes to the Thornhill community.…

Greybrook¹ Announces US$42,900,000 Acquisition of a Garden-Style Apartment Property in Atlanta, Georgia

Company News
November 7, 2023

Greybrook¹ announced today the acquisition of a 352-unit garden-style apartment community in the Metro Atlanta region south of the City of Atlanta in Georgia for the purchase price of US$42,900,000. Greybrook will oversee the execution of an enhancement program for…

Velo Blu Pedal for Blu Genes Charity Ride Sets New Fundraising Record with Over $440,000 Raised

Uncategorized
November 2, 2023

In September, the 4th annual Velo Blu Pedal for Blu Genes returned for another successful year, raising over $440,000, the most donations in the ride’s history. Watch the 2023 Velo Blu Highlight Video This year’s charity ride saw the highest…

Greybrook Hosts Annual Inside Track Event

Insights
October 25, 2023

Inside Track is an excellent opportunity to offer our investors valuable insights and perspectives from esteemed industry leaders and to provide an informative economic update and outlook for Canada and the broader global economy.This year, we had the pleasure of…

Strong Momentum with the Launch of our JOYA on The Queensway Condominium

Portfolio Updates
October 23, 2023

A well-executed marketing campaign and sales launch plan resulted in a very strong and positive response at the events leading up to and including the official grand opening of our Joya on The Queensway project with partner Marlin Spring Developments.…

Sasha Cucuz Featured in TCS’s Canadian Game Changers Video Series

Insights
October 19, 2023

As part of the Conversations with Canadian Game Changers, an interview series with key Toronto and industry leaders, Sasha Cucuz, CEO of Greybrook Securities Inc., joined Simon Mass, Founder and CEO of the Condo Store Group of Companies, to discuss…

Lindsay Heights Launches Sales With Official Ribbon-Cutting Ceremony Introducing First Release Of Homes In New Master-Planned Community

October 18, 2023

We are pleased to share that our Lindsay Heights project with developer partner Tribute Communities has officially launched sales with a formal ribbon-cutting ceremony attended by the Mayor of Lindsay held on October 13th introducing the first release of homes…

Brooklin ll in the Town of Whitby Unveils Brand Name – Brooklin Vue

October 15, 2023

Brooklin Vue is a twist on existing naming conventions meant to represent a new outlook for life in the city for the future residents of Brooklin Vue. Located at Columbus Road East and Baldwin Street North in Brooklin, our development will…

All Posts

Join our newsletter and keep up to date with our news & insights

Contact us