Avenue & Park Construction Update

admin Portfolio Updates, Residential Development

Since our last Avenue & Park update, the Project has experienced a flurry of activity with the last remaining penthouse unit being sold, rezoning approvals finalized and demolition of the existing building on the property completed in February 2018. Conditional below-grade building permits are expected to be obtained imminently and above-grade permits will be granted following Site Plan approval.

Image: Aerial view of Avenue & Park development site at 1580 Avenue Road.

Based on progress to date, we anticipate excavation and shoring to be underway by Q3 2018 and formwork trades to be mobilized by end of the year. In the meantime, the sales program is ongoing and the Project is now 80% sold with sale prices continuing to remain strong. The sales centre, located at 1910 Avenue Road, is in the process of being retrofitted to accommodate the upgrade and finish selections program and will be ready for purchaser appointments in mid-June 2018.