Cranson Capital Securities has secured $14.5 million to fund a developer’s plans to build a new condominium in Toronto’s Entertainment District. The Plazacorp project gives 100 accredited investors an opportunity to own equity in the development, which will entitle them to share in the proposed development’s profits.

“[The Entertainment District] being one of the fastest developing districts of the city and having an exceptional strategy of enhancing the pedestrian realm of the area assured us that this would be a great opportunity for investors and potential condo purchasers to reap the rewards of a promising investment,” says Anthony Heller, Plazacorp president.

Conservative forecasts suggest the project could earn investors a 122-per-cent profit over an anticipated five-year term, according to a press release from Cranson Capital Securities.

“With the continued demand for new housing in Toronto and the comprehensive expertise of Plazacorp in residential real estate development, a private placement investment of this kind is something we encourage our investors to capitalize on,” says Devon Cranson, president at Cranson Capital Securities. “We look forward to continuing to provide investors with opportunities to participate with developers in expanding the housing supply in the GTA to meet the demands of our growing population.”

With an approximate 80,000 new immigrants moving to the GTA annually, the demand for new housing continues to rise.