Greybrook Invests $42,000,000 in a Residential Development Project with Treasure Hill in Markham, Ontario

This acquisition marks Greybrook’s seventh investment in Markham.

On December 20^th, Greybrook successfully closed on a $42,000,000 investment completed by its managed issuer. The funds will be used to acquire and oversee the development of a prime parcel of land located at the intersection of Warden Avenue & Elgin Mills Road East in the highly sought-after Angus Glen neighbourhood in Markham, Ontario. Together with our developer partner, Treasure Hill, the firm intends to develop the property into a residential community consisting of over 720 townhomes.

Located approximately 30 kilometers north of the City of Toronto, Markham ranks as the fourth largest city in the Greater Toronto Area (‘GTA’) and the eighth largest in Ontario.⁽¹⁾ It is projected to experience substantial growth over the next three decades, with its population expected to reach approximately 619,000 by 2051, marking an approximately 83% increase from its 2021 population.⁽²⁾

Markham is at the centre of Canada’s second-largest technology cluster. The dynamic city is home to over 1,500 technology companies, employing over 35,000 highly skilled workers, with the highest concentration of Information and Communication Technology professionals in the nation.⁽³⁾ Markham is leading the way in the semiconductor market, boasting an industry value of a staggering $7 billion.⁽³⁾ The city is a magnet for global giants, with many industry leaders making Markham their home or establishing a significant presence. Companies like AMD, Enbridge, General Motors, Honda Canada, Lenovo, IBM Canada, GE Digital Energy Canada, and Tesla are just a few of the big names driving the city’s technological prowess.⁽³⁾

Markham benefits from an extensive transportation network, offering smooth connections to various parts of Toronto via Highways 404 and 407.⁽⁴⁾ The Stouffville GO Transit Line links Markham with Downtown Toronto in under an hour, featuring four stations within the city: Markham, Centennial, Unionville, and Mount Joy (approximately 9 km from the project site).⁽⁵⁾

With over 350 scenic parks and open spaces, Markham provides stunning locations for residents and visitors to enjoy the outdoors. The city is also home the Angus Glen Golf Club, adjacent to the project site to the south, which features two championship golf courses.⁽⁶⁾⁽⁷⁾

“Markham is a city of remarkable growth and opportunity, and we are excited to contribute to its vibrant future through this new development in the Angus Glen neighbourhood,” said Sarah Mansour, Executive Director, Strategy and Corporate Development at Greybrook Realty Partners. “This is our 12^th co-investment with our developer partner Treasure Hill Homes, and we look forward to bringing the vision of this new community to life in one of the GTA’s most sought-after locations.”

^{(1) Statistics Canada – 2021 Census of Population.
(2) The Regional Municipality of York Proposed 2051 Forecast and Land Needs Assessment.
(3) Markham Startup Ecosystem report 2023 – City of Markham.
(4) Google.com/maps
(5) Gotransit.com
(6) Yourvoicemarkham.ca – Park Consultations.
(7) Angusglen.com}