Graywood Developments, in partnership with Phantom Developments, has commenced construction on a 55-storey purpose-built rental development located at 3201 Highway 7 in Vaughan, Ontario. This initiative marks the second collaboration between the two companies, following their recent completion of JAC Condos in downtown Toronto.
Exterior rendering of 3201 Highway 7 (CNW Group/Graywood Developments & Phantom Developments)
“I am happy to be here with members from Graywood Developments and Phantom Developments as we continue to deliver vital housing supply to the City of Vaughan,” said Steven Del Duca, Mayor of Vaughan, and the ground-breaking ceremony in late November. ”Projects like 3201 Highway 7 are critical to ensuring healthy, diverse housing options for the residents of Vaughan and I look forward to the continued development of the VMC.”
The 55-storey Vaughan project will house 617 rental units, comprised of studios, one-bedroom, two-bedroom and three-bedroom suites along with numerous amenities, including a gym, party room, swimming pool, co-working space, an outdoor terrace and a dog run. The site’s location is a 5-minute walk to the Vaughan Metropolitan Centre (VMC) Subway with quick access to Highway 400 & 407 and an abundance of amenities within walking distance.
“3201 Highway 7 fits everything we look for when assessing a development project: premium location, great access to transit and a wealth of amenities for our future residents to enjoy”, added Stephen Price, President and CEO, Graywood Developments. “Downtown Vaughan is in the midst of a generational transformation, and we are excited to deliver this project to the vibrant and diverse community.”
The first of three planned towers, designed by Arcadis, will soon rise as part of a master plan that brings 1,700 new units to the area. The goal for Vaughan is to create a transit-focused downtown featuring distinct residential, office, and mixed-use districts, all connected by parks, squares, open spaces, and an intricate street grid. By 2031, the City aims to reach 12,000 residential units, 1.5 million square feet of commercial office space, and 750,000 square feet of new retail space.
“We are excited to be starting construction on this three-tower masterplan, which will deliver quality housing options to the community,” said Stanton Strasser of Phantom Developments. “After a successful partnership on JAC Condos, we are excited to work together and continue to shape the future of Vaughan through this project”.
More details about the additional two towers will be released at a later date.
