Toronto, Ontario, January 20, 2021 – Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $41,765,000 to acquire five properties located at 148, 152, 156 Avenue Road, 224 and 234 Davenport Avenue, in the City of Toronto and oversee the development of the assembled parcel of land. Together with its developer partner, Tribute Communities, the firm intends to develop the property into a luxury high-rise condominium residence consisting of over 380 units and more than 6,000 square feet of commercial space at grade.
Located at the northwest corner of Avenue Road and Davenport Road, the development site offers excellent connectivity with four different TTC Subway stations in close proximity, nearby shops, restaurants, cafes and amenities in Yorkville’s upscale neighbourhood and along Bloor Street and Yonge Street. The site is also a short-walk from the University of Toronto’s St. George campus, the Royal Ontario Museum the Telus Centre for Performance and Learning and a number of galleries. The site is also close to several parks, including Ramsden Park, Dupont Parkette, and Robertson Davies Park.
The property is one of several sites in the Bloor-Yorkville area in which Greybrook is actively developing, including the “Vertical Forest”, a unique residential development at Davenport Road and Bedford Road, intended to support over 350 tall trees on the exterior balconies of the building, and an ultra-luxury 29-storey mixed-use condominium building that will transform the corner of Yorkville Avenue and Avenue Road. “We are very excited to further participate in the growth and development of Yorkville and the surrounding area and we are thrilled to be partnering with our long-standing and well-respected developer partner, Tribute Communities, on this project,” noted Peter Politis, CEO, Greybrook Realty Partners. “Residential development sites such as this site have become much harder to find in the City of Toronto, particularly in the best neighbourhoods in the City. With the federal government’s planned increase in immigration over the next three years, Toronto will need new housing to support the growing population and transit-oriented developments such as this site will be in high demand”.
Listen to this article: It is difficult to find a market conversation today that does not eventually lead back to interest rates. For Canadian advisors, there are particularly good reasons to be paying attention. U.S. Treasury yields have moved materially…
Last season, Greybrook became the first-ever lead sponsor of York Lions Men’s Hockey. This year, extending that support to the women’s program was a natural next step and reflects something we believe deeply: sport shapes future leaders. It is an…
Greybrook team members rode in support of the 7th Annual Velo Blu Charity Bike Ride in Niagara-on-the-Lake, helping raise $270,000 to advance research into rare childhood diseases and gene therapy through the Blu Genes Foundation. Held at the scenic Peller…
On Sunday, September 20, Greybrook joined runners, walkers, volunteers and community supporters at the 17th Annual Constantine Yorkville Run, coming together to raise funds for charities making a difference across Toronto. As a Presenting Partner, Greybrook was proud to once…
Members of Greybrook’s Institutional Capital Markets team recently attended and sponsored Future Proof Festival, the world’s largest four-day wealth management festival, held in Huntington Beach, California. As part of its sponsorship, Greybrook supported the QWealth Canadian Lounge, a dedicated gathering…
Lindsay Heights, our low-rise, master-planned community in the City of Kawartha Lakes, is set to welcome one of its most anticipated neighbourhood retail additions with the opening of a Walmart Supercentre. Located at the northwest corner of Lindsay, at Highway…
This advancement marks a significant milestone for Florida’s first supertall Downtown Miami residence, a signature hallmark of the renowned Waldorf Astoria brand, offering a collection of 205 luxury hotel guestrooms, dedicated five-star service and once-in-a-lifetime experiences. Construction of the staggered…
Listen to this article: The best time to buy durable assets is rarely the moment they feel comfortable to buy. In multifamily, rent growth tells you where a market is today, but the conditions that signal where it is heading…
Dallas-Fort Worth has been one of the most closely watched multifamily markets in the United States over the past several years. Long-term population and employment growth, rapid corporate relocations, relative affordability and a deep, diversified economy have helped draw a…
The launch of the Greybrook U.S. Multifamily Income & Growth Fund reflects our continued evolution as a North American real estate investment platform — expanding into institutional-quality, income-producing U.S. multifamily assets and giving investors access to a strategy built around…
