GreyBrook logotype
Investor Login Contact Us

Greybrook Realty Partners Invests $19,360,000 in a Low-Rise Development Project with Fieldgate Homes and Redwood Living in Courtice, Ontario

Date:
June 7, 2021
Share:

This is Greybrook’s 13th real estate investment in the Regional Municipality of Durham.

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $19,360,000 to acquire and oversee the development of a parcel of land located in Courtice, Ontario. Together with its developer partners, Fieldgate Homes and Redwood Properties, Greybrook will develop the land into a residential community consisting of over 360 single-detached homes and freehold townhomes.

Located east of Toronto in Durham Region within the Municipality of Clarington, the community of Courtice offers residents a blend of small-town living combined with access to an abundance of nearby amenities located throughout the Region. The 54-acre development site, situated at the southeast corner of Trulls Road and Pebblestone Road in the north end of Courtice, is located inside the urban boundary and surrounded by the protected Greenbelt Natural Heritage System to the north and east. The site’s proximity to the new Highway 418, which links Highways 407 and 401, provides convenient access to other parts of the Region including neighbouring Oshawa and Whitby, and access to cottage country is only a short drive away via Highways 418, 407, 115, and 35. The Region’s transit infrastructure is also expected to expand. In 2020, the Metrolinx Board of Directors endorsed the GO East Rail Extension through Oshawa to Bowmanville in Clarington, which is expected to feature four new station stops, including one in Courtice, further enhancing the area’s access and connectivity within Durham Region and the broader Greater Toronto Area.

Durham, which makes up 9.3% of the Greater Toronto and Hamilton Area’s total population, has grown in population by 8.4% from 2016 to 2019. The Region is home to academic institutions including Ontario Tech University, Durham College, and the Trent University Durham campus. Durham has been attracting talent, and a number of recognizable businesses have planned expansions into Durham that are expected to bring jobs to the Region. Ontario Power Generation plans to build its new corporate headquarters in Clarington, which is expected to be complete in 2024 and produce over 2,000 jobs, while Amazon’s new distribution centre in Ajax is expected to open in September 2021 and add 1,000 new jobs.

“Durham has experienced consistent growth over the years, attracting residents and job seekers, and the relative cost of housing in the Region has made it one of the most in demand housing markets in the GTA”, states Sasha Cucuz, CEO of Greybrook Securities Inc. “This is Greybrook’s 13th low-rise development in Durham Region, bringing the total number of homes we are developing alongside our developer partners to more than 2,300 homes. We are thrilled to be partnering with our developer partners, Fieldgate Homes and Redwood Properties, who have a long history of success developing and building within Ontario and the Region, including Courtice.”

The portfolio of low-rise development holdings managed by Greybrook Realty Partners includes several development properties that are projected to result in the completion of over 11,000 ground-related homes in the Greater Golden Horseshoe region.

Read the full announcement on Cision News Wire 

Latest Insights

Greybrook Realty Partners Invests $26,385,00 in a Low-Rise Residential Development Project with Treasure Hill in Brooklin, Ontario

Portfolio Updates
May 17, 2022

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $26,385,00 to acquire and oversee the development of a prime parcel of land located in Brooklin, Ontario. Together with its developer partner,…

Greybrook Realty Partners Invests $25,300,000 in a High-Rise Residential Development Project with Metropia in Toronto, Ontario 

Portfolio Updates
May 16, 2022

Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $25,300,000 to acquire and oversee the development of an assembly of properties located on the south side of Dundas Street East between…

First Wave of Occupancies Start at Stockyards District Residences

Portfolio Updates
May 10, 2022

Alongside developer partner, Marlin Spring, we are excited to welcome all the new homeowners to their new homes and look forward to the next wave of occupancies over the coming weeks. The hardworking construction and execution teams were on-site to…

Symphony Towns Welcomes First Wave of Homeowners

Portfolio Updates
April 27, 2022

More families will soon call Symphony Towns home as the occupancy process continues throughout May. Alongside developer partner, Marlin Spring, we congratulate the construction and execution teams on their hard work achieving this much-anticipated milestone and welcome all the new…

Greybrook Tours Our Toronto Projects

Portfolio Updates
April 25, 2022

Avenue and Park Accompanied by developer partner, Stafford Homes, our team had an opportunity to see first-hand the spectacular views and luxury amenities that residents of this boutique 35-unit residence will be able to enjoy. 181 East Our tour made…

Toronto Film and TV Production Industry Sets New Record in 2021

Insights
April 21, 2022

After a record-breaking year, Toronto’s production industry is set to experience rapid growth and momentum again in 2022. A total of 1,468 productions and over 7,800 production days were filmed in Toronto last year, with that number set to rise…

Inflation, Rising Rates, and the Many Variables Currently at Play

Insights
April 15, 2022

As we emerge from the pandemic, this latest phase of our economic recovery has been met with a host of macroeconomic variables that have had a direct impact on our everyday lives. From supply chain challenges to interest rates increases,…

The Way: Collegeway Officially Sold Out

Portfolio Updates
April 4, 2022

Located within the established Erin Mills community, this mixed-use low-rise development is comprised of over 300 urban townhomes and more than 11,000 square feet of redeveloped retail and office space. Residents of these new townhomes will enjoy easy access to…

Increased Immigration is Critical for Canada’s Long-term Prosperity

Insights
March 31, 2022

We were very intrigued by their bold mission to advocate for policies and programs that would increase Canada’s population to 100 million by 2100. The Century Initiative argues that our long-term success depends on our ability to scale our population…

Ontario Line Project Breaks Ground

Insights
March 30, 2022

The project is proposed to be a 15-stop, 15.6km subway line that runs from Exhibition Place, through the downtown core, and up to the Ontario Science Centre in North York. The future line will connect with 40 other transit routes,…

All Publications

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

Contact us