Stafford and DBS Developments have unveiled their second joint venture in Toronto: a new luxury purpose‑built rental community planned for 429 Walmer Rd in South Forest Hill. The announcement follows their June reveal of another rental project at 11–21 Johnston Avenue near Yonge and Sheppard, underscoring a strategic shift for both companies and reflecting broader momentum in Toronto’s evolving rental market.

Long known for its condominium portfolio, Stafford’s president Jonathan Goldman says the team is moving to expand further into the rental sector.

“We are very excited to be partnering with DBS to bring 429 Walmer to one of Toronto’s most desirable neighbourhoods,” he said. “Forest Hill is an exceptional community, and the opportunity to create purpose-built rental residences steps from Forest Hill Village, the subway and the St. Clair streetcar is incredibly compelling.”

The new building will introduce over 230 luxury rental residences, designed by BDP Quadrangle with a strong emphasis on livability and space. Rising 27 storeys, a significant proportion of the units will be two‑bedroom‑plus‑den and three bedrooms, reflecting a deliberate focus on larger rental options at a time when family‑sized units are increasingly scarce. Select homes will exceed 1,500 sq. ft., reinforcing the project’s commitment to generous layouts.

The development will also offer nearly 13,000 sq. ft. of indoor and outdoor amenity space, including a landscaped 5,000‑sq.‑ft. courtyard at grade and an additional amenity terrace on the tenth floor. Early concept sketches depict a contemporary, slender tower designed to complement the neighbourhood’s established character.