Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $15,920,000 to acquire and oversee the development of two prime parcels of land located in Courtice, Ontario. Together with its developer partner, Tribute Communities, the firm will develop the lands into a residential community consisting of over 230 single-detached homes and freehold townhomes.
A growing residential community located 75 kilometres east of Toronto, Courtice is ten minutes from the City of Oshawa, and is part of the municipality of Clarington within the region of Durham. Home to a population of over 93,000, Clarington is a growing region known for its four urban communities, fourteen hamlets, and wide-open rural areas. Demand for housing across Durham region has continued to show signs of strength. According to a recent Toronto Real Estate Board report, prices of detached singles increased by 33% and townhomes increased by 39% from May 2016 to May 2017 as the region continued to attract new families.
This development will bring to market a collection of single-detached homes on 40 foot lots and townhomes on 20 foot lots across two development sites in Courtice at 2212 Trulls Road and 2350 Courtice Road. The sites are adjacent to existing properties owned by Tribute Communities and part of the developer’s larger expansion plans for the area. Both sites provide convenient access to Highway 401, and the future Highway 407 extension expected to complete in 2020. Additionally, Metrolinx has plans to build a GO Train station south of Highway 401 in Courtice by 2024, which will provide daily train service to downtown Toronto.
“We are excited to provide our investors with another strong investment opportunity in the Region of Durham, a municipality which continues to display strong growth potential and absorption rates,” states Alex Riajskikh, Director of Private Capital Markets, Greybrook Realty Partners. “This is our fifth development in the Region and eighth development partnership with Tribute Communities, an exceptional developer actively working to provide the community of Courtice with much-needed housing supply.”
On December 20th, 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 &…
Greybrook is proud to share our support towards the revitalization of The City of Cambridge’s Preston Memorial Auditorium. This contribution will play a crucial role in the ongoing renovation and expansion of the recreational facility, which will continue to serve…
This past fall, the 5th Annual Velo Blu charity ride for Blu Genes took place, bringing together over 140 participants and raising more than $400,000 for gene therapy research. Set at Peller Estates Winery, this unforgettable event highlighted the power of community…
Since sales launched last October, the low-rise, master-planned community developed in partnership with Tribute Communities has continued to attract interest from prospective buyers eager to experience the small-town charm of Lindsay. With the grand opening of the showhomes, prospective buyers…
The rise of artificial intelligence (AI) and the increasing adoption of technology across industries has led organizations to explore new ways to transform and streamline operations to stay competitive. As a result, the demand for tech talent has surged, often…
One of the most common questions we hear from investors is: How do we determine where to invest, especially as markets evolve? In today’s dynamic real estate landscape, making sound investment decisions requires a disciplined and selective approach. During a…
We’re excited to share the highlights from Inside Track 2024, our annual investor event that offers industry-leading insights and engaging discussions on the future of real estate and the broader economy. This year, attendees had the opportunity to hear from…
Greybrook and our partners PMG, are pleased to announce that pre-leasing has commenced for Society Atlanta. Located at 811 Peachtree St. NE, Society Atlanta is a 31-story tower featuring 460 rental apartments, over 87,000 square feet of office space and…
We recently had the opportunity to fly over our Archetto Towns project in Woodbridge, offering a new perspective of our 91 townhomes low-rise community. Standing out against the eye-catching backdrop of vibrant fall foliage, this exclusive collection of contemporary townhomes,…
We are thrilled to announce that our Artistry Condos high-rise development in Toronto’s vibrant Grange Park community has reached a significant milestone with the successful topping-off of the building. This achievement marks the completion of the structural formwork at its…
