Articles from Storeys

Elysium Investments has submitted a proposal for a high-rise development in Toronto's High Park North area, near Keele Station. The project includes a 41-storey and a 39-storey tower with a shared six-storey podium, offering 873 rental units. Key features include extensive amenity spaces and provisions for vehicle and bicycle parking. The site, currently home to 11 single-detached homes, is well-connected by public transit.

Toronto is facing a reduction in funding from the Canada-Ontario Housing Benefit, which has significantly impacted the city's ability to provide housing to its unhoused population. The city will only receive $7.95 million from April 2026 to March 2027, a 60% decrease from previous years, impacting its shelter programs. Mayor Olivia Chow is advocating for the federal government to increase funding for housing asylum seekers, which could otherwise result in increased property taxes to cover the costs. The discussion on additional support will take place at the upcoming Toronto City Council session.

Elysium Investments, a Toronto-based firm, is addressing the student housing shortage by launching Yarra, a platform for affordable, purpose-built student rentals near major post-secondary institutions. The aim is to provide high-quality, flexible accommodations that foster community, addressing student needs for affordability and belonging. Despite a challenging housing market, Yarra offers an opportunity for developers and investors by aligning social need with potential returns.

A new townhome community, called the Townhomes of Little Rouge by Camcos Living, is being developed in Markham, Ontario. The community will feature 147 residences ranging from back-to-back to traditional townhomes, with amenities highlighting both modern architecture and natural beauty. Located near Rouge National Urban Park, the development offers residents easy access to nature trails and city conveniences. The project emphasizes modern living with sustainable and durable construction, integrating community spaces like a central park to foster connection among residents.

Elysium Investments has submitted plans for a residential development near the Mount Dennis station in Toronto, featuring two towers of 43 and 41 storeys. The development will include 851 rental units and a public space. The proposal is currently awaiting approval from the City of Toronto and would replace existing homes on the site. The location is strategically close to major transit options, anticipating significant growth and development in the area.

The article discusses the challenges faced by Canada's luxury real estate market in 2025, particularly due to economic and geopolitical pressures. Despite a strong start to the year, luxury property sales slowed in Greater Toronto and Vancouver due to factors like political tensions, stock market volatility, and local aesthetic issues. REMAX agents emphasize the importance of working with experienced professionals who can navigate these challenges, relying on their expertise to manage uncontrollable factors and maintain property appeal. Luxury agents also help adapt strategies to market changes, focusing on presentation, negotiation, and addressing buyer concerns.

In September, Ontario's real estate and development sector saw several significant staffing changes. Ana Bailão was named the first CEO of Build Canada Homes, while Eric Plesman rejoined Oxford Properties as President and CEO. Other notable appointments included Jacob Cohen's promotion to President of The Daniels Corporation, and Eric Lombardi's new role as Chair of Build Toronto. These moves highlight ongoing leadership shifts in the industry.

The article discusses the need for the Canadian real estate industry to recognize and engage with Indigenous Peoples rights, histories, and voices through the framework proposed by the Truth and Reconciliation initiative. The guide, "Answering the Call to Action 92," offers concrete steps for integrating Indigenous perspectives into corporate governance, education, economic opportunities, and relationship building. It emphasizes the importance of stewardship over land and the potential of reconciling relationships to lead to innovative partnerships and community prosperity.

A newly listed residence in the Edenbridge-Humber Valley area of Toronto offers resort-style living within a city setting. The 5,000-square-foot home features elegant design elements, including a two-storey living room, a chef's kitchen, and a luxurious primary suite. The outdoor space provides a private resort experience with a saltwater pool, waterfall, and hot tub. This prestigious property is close to top schools and amenities, priced at $2,650,000.

In the Greater Toronto Area, a slow pre-construction condo market is leading developers to convert these projects into rental units. Nine projects have already made the switch with a total of 1,778 units, and many more are considering it. This shift addresses market demand and is supported by real estate analytics showing a significant move towards rentals. Experts indicate that this trend requires different logistical planning and additional investment compared to condos.

The return-to-office mandates in Toronto, led by Ontario's Premier and major banks, are boosting the commercial real estate market, specifically the office sector. Vacancy rates, although elevated compared to pre-pandemic levels, are decreasing, especially in Class A office spaces with superior amenities. The movement back to office spaces is creating demand for better-equipped work environments and is expected to impact local retail and traffic. Organizations are adapting spaces to meet new employee needs, such as updated technology and convenient amenities, to optimize productivity.

Beau Brooker has been appointed as Northcrest Developments' vice president of construction, overseeing the redevelopment of the former Downsview Airport in Toronto, known as YZD. This ambitious 30-year project plans to create seven interconnected neighborhoods with residential, commercial, and cultural spaces. Brooker's previous experience in similar large-scale projects, like the ICE District in Edmonton, will be instrumental in transforming this vision into reality. Despite economic uncertainties, Northcrest is optimistic about the project's future impact, aiming for adaptability and community engagement.