GreyBrook logotype
Investor Login Contact Us

Greybrook Realty Partners Invests $15,920,000 in a Low-Rise Residential Development Project with Tribute Communities in Courtice, Ontario

Date:
August 18, 2017
Share:

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.”

View the full release on Globe Newswire.

Latest Insights

Toronto Ranks 4th in CBRE’s 2024 Top 50 North American Tech Talent Markets

Insights
November 29, 2024

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…

Boardroom Brief: EP. 04 – An Inside Look at How We Make Investment Decisions in Today’s Market

Insights
November 28, 2024

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…

Inside Track 2024: Highlights from Our Annual Investor Event

Company News
November 14, 2024

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…

Society Atlanta Now Accepting Applications for December Move-Ins

Portfolio Updates
November 13, 2024

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…

Archetto Towns Takes Shape Amid Vibrant Backdrop of Fall Foliage

Portfolio Updates
November 8, 2024

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,…

Artistry Condos Celebrates Key Construction Milestone with Topping Off Ceremony

Portfolio Updates
November 6, 2024

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…

Linx Condos Receives Heritage Toronto Award Nomination

Portfolio Updates
November 5, 2024

We are proud to share that Linx Condos was recently nominated for the prestigious Heritage Toronto Awards in the Built Heritage category. This year’s 49th Annual Heritage Toronto Awards celebrated exceptional contributions to the preservation and evolution of the city’s…

Sasha Cucuz Joins the Latest Episode of Toronto Under Construction to Take a Deep Dive into Real Estate Investment

Insights
October 28, 2024

In the latest episode of the Toronto Under Construction podcast, CEO Sasha Cucuz joins Bullpen Consulting’s Ben Myers and guest co-host Matt Young for an in-depth discussion on real estate investment. The conversation offers insights into Greybrook’s evolution, highlighting its strategic…

Boardroom Brief: EP. 03 – Ontario’s New Provincial Planning Statement, 2024: What Impact Will it Have?

Insights
October 23, 2024

On October 20th, 2024, the Ontario government’s Provincial Planning Statement, 2024 (PPS 2024) came into effect, aiming to streamline the province’s land use planning framework. This new policy replaces both the Provincial Policy Statement, 2020, and A Places to Grow:…

Inside Track 2024: Economic Insights from CIBC’s Benjamin Tal and CEO Perspectives on the Current & Future Real Estate Market

Company News
October 22, 2024

The evening featured the prominent Benjamin Tal, Deputy Chief Economist and Managing Director of CIBC World Markets, who delivered his expert analysis of macroeconomic data and real estate trends in the Canadian market. Following his keynote, attendees enjoyed an engaging…

All Publications

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

Contact us