Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $22,850,000 to acquire and oversee the development of a prime parcel of land located west of Yonge Street on Berwick Avenue, immediately south of Eglinton Avenue in Toronto, Ontario. Together with its developer partner, Stafford Homes, Greybrook will develop the land into a high-rise condominium consisting of over 500 smaller-scale units with limited resident parking, in line with the latest city-wide parking standards enacted by Council.
Nestled in the vibrant center of Midtown Toronto, this development site is conveniently located off Yonge Street and its lively shops, restaurants, cinemas, performing arts theatres, and cafés. Residents will benefit from the nearby Farm Boy grocery store, Yonge-Eglinton Centre, Eglinton and Oriole parks, and an array of other amenities catering to daily needs.
The site offers exceptional connectivity, situated in one of Toronto’s most transit accessible areas, granting easy access to the Toronto Transit Commission’s (TTC) Eglinton Station, with Union Station reachable in approximately 15 minutes.(1) Additionally, the property will be within a short walk to the future Metrolinx Eglinton Crosstown Light Rail Transit (LRT) line. This 19km corridor, featuring 25 stops, spans Eglinton Avenue from Mount Dennis (Weston Road) to Kennedy Station and offers connections to 54 bus routes, three TTC stations, GO lines, and the UP Express to the airport. The LRT is anticipated to commence operations in 2025.(2)
“We are pleased to announce the acquisition of a strategically located site in the vibrant core of Midtown Toronto, a high-growth urban centre with exceptional long-term fundamentals,” said Sasha Cucuz, CEO of Greybrook Securities. “This dynamic area continues to rapidly evolve, with significant developments in residential, office, and mixed-use development properties, underpinned by robust transit infrastructure and sustained population growth. In partnership with Stafford Homes, we look forward to delivering a transit-oriented community that aligns with our strategy of investing in well-located, high-density projects that drive long-term value creation.”
(1) Google.com/maps
(2) metrolinx.com/en/projects-and-programs/eglinton-crosstown-lrt
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