Concert Real Estate Corporation announced it has strengthened its presence in the Toronto real estate market by acquiring an approved residential mixed-use development site near the intersection of Sherbourne and Bloor Streets.
“With this acquisition, we position the company for continued growth by acquiring a unique property in a downtown, centrally-located and transit-oriented neighbourhood,” said Brian McCauley, President & Chief Executive Officer. “We look forward to delivering an exceptional Toronto residential mixed-use project that meets Concert’s high standards for quality, service, value and sustainability.”
Located steps from the Sherbourne subway station, the site is approved for a 50-storey residential mixed-use tower and seven three-storey townhouses, in addition to the existing six semi-detached, fully-restored heritage homes. The well-connected site is at the intersection of some of Toronto’s most vibrant neighbourhoods, including Yorkville, Rosedale and Danforth.
In 2001, Concert expanded all lines of its business into the Ontario marketplace, geographically diversifying its operation and establishing a national presence as an award-winning, diversified real estate enterprise.
To date, Concert has undertaken developments in excess of $3.4 billion, developed nearly 12,000 rental and condominium homes, and built or acquired over 12 million square feet of income-producing property. The company has assembled a development pipeline containing a cumulative 7,600 homes and 500,000 square feet of commercial space across six master-plan communities across the Greater Toronto Area, Metro Vancouver and Victoria.