Greybrook Realty Partners Inc. announces the successful acquisition of an assembly of properties located at 8-26 Jopling Avenue South in Etobicoke, Ontario, following the successful closing of an equity investment by its managed issuer of $50,545,000 to acquire and oversee the development of the properties. Together with its developer partner, Tribute Communities, the firm intends to develop the land into a two-tower high-rise condominium residence consisting of approximately 665 units.
Located in the heart of Etobicoke Centre, the development site is only a short walk from the newly built Kipling Transit Hub, easily connecting riders to three major transit providers — GO Transit, MiWay, and the Toronto Transit Commission — providing access to Union Station in approximately half an hour. The site is ideally situated near an abundance of amenities including a newly built 25,000 square foot Farm Boy grocery store, which is steps away from the site. The area surrounding the site is set to expand, with plans for a new Etobicoke Civic Centre to be constructed in close proximity, as well as new parks, an engaging public realm, and additional area amenities. Ideally situated, the site is a short drive to CF Sherway Gardens shopping mall, Toronto Pearson International Airport, and the Lake Ontario waterfront to the south.
“This is one of the GTA’s most well-connected sites, steps away from a busy transit hub that links riders from Toronto’s west end and surrounding areas to the Downtown core”, said Jared Berlin, Executive Director, Asset Management, Greybrook Realty Partners. “The development site is bordered by the recently reconfigured Six Points Interchange, a City development project aimed at improving mobility and enhancing development in the area. We are excited to provide additional housing to a neighborhood primed for development and that is expected to transform into a regional hub. We are delighted to be working with our long-standing development partner Tribute Communities, one of the GTA’s most successful developers.”
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.