Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of $15,450,000 to acquire and oversee the development of a prime parcel of land located at 2231 St. Clair Avenue West in the City of Toronto. Together with its developer partner, Marlin Spring, the firm intends to develop the property into a mid-rise condominium residence consisting of over 220 units and more than 12,000 square feet of commercial space at grade.
Located on St. Clair Avenue West, between Keele Street and Runnymede Road in Toronto’s Stockyards District, the development site is well connected with two nearby TTC stops and the streetcar on St. Clair Avenue West. The site is steps away from RioCan’s Stock Yards Village mall, a 500,000 square foot urban retail property featuring over 50 major retailers and restaurants. Situated in close proximity to an array of chic cafes, shops, micro breweries, and local restaurants, the development is also walking distance from popular outdoor recreational facilities and parks, including Runnymede Park and George Bell Arena.
“We have always prided ourselves on identifying and investing in the right submarkets outside of the core of Toronto that will evolve into vibrant communities. We did that with our early investments in Toronto’s Liberty Village and east of the city with our Linx condo project at Main and Danforth,” said Peter Politis, CEO, Greybrook Realty Partners. “We are very excited to expand our presence in the Stockyards District with Marlin Spring, with whom we are actively constructing another mid-rise condominium residence less than 200 metres from this site on St. Clair Avenue West.”