Category: General
The biggest names in Toronto’s real estate and business worlds united for some friendly (but intense) competition as the 16th annual Hold’em For Life Charity Challenge took over a sprawling ballroom in the iconic Fairmont Royal York hotel.
Held on Thursday, October 13, the black-tie affair saw the some 600 guests engage in a massive Texas Hold’em poker tournament to raise important funds for cancer research at some of Ontario’s top hospitals.
Win, lose, or draw, the evening was a record-breaking success.
Co-chairs Gavin Cheung, President and Partner of CentreCourt and Bob Blazevski, President & COO of Diamond Corp, raised more than $3.2M for cancer research at the University of Toronto Faculty of Medicine in the nine affiliated teaching hospitals, including Sinai Health and Princess Margaret Hospital.
The organization also announced that Hold’em has committed to a new $4M endowed fund to support two new fellows in perpetuity who will be dedicated to brain and urology cancer research to help find a cure.
The Hold’em For Life Fellowship program founded in 2019 was part of the $16.4 million commitment to the University of Toronto’s Faculty of Medicine and partnered with Toronto’s leading teaching hospitals to establish the Hold’em for Life Fellowship Program. With this fellowship program, annually, Hold’em will sponsor approximately 40 fellows per year. With each fellow, Hold’em for Life will commit $50,000 per year per fellow and with the applicant’s institution to fund the balance. The annual salaries for clinic fellows amount to $100,000 for the year.
With a ticket price starting at $2,500, the event attracted influential move-makers, including executives from real estate and development companies like Choice Properties REIT, DREAM, CBRE, Stafford Developments, Madison Group, Rio Can, Tricon, Kingsett Capital, and Cadillac Fairview.
Since 2006, the Hold’em For Life Charity Challenge has raised more than $40M raised for cancer research at Ontario’s leading hospitals as well as the Hold’em For Life Fellowship Program.
TORONTO, March 28, 2022 /CNW/ – CentreCourt is pleased to announce the final closing of its second private real estate fund, CentreCourt Platform II LP (“CentreCourt Platform II” or the “Fund”), which has raised $406 million of committed capital.
CentreCourt Platform II is focused on acquiring strategic properties with potential for high density residential redevelopment projects in select Greater Toronto Area submarkets. The Fund was significantly oversubscribed, reflecting strong interest from CentreCourt’s existing investors.
“We are very appreciative of the ongoing trust and confidence that our investors have placed in CentreCourt,” said Andrew Hoffman, Founding Partner and Chief Executive Officer. “We are excited to execute on our robust opportunity pipeline. CentreCourt Platform II will support our best-in-class capabilities as we seek to unlock residential opportunities in urban locations across the GTA.”
CentreCourt has successfully completed four high-rise residential projects in the last 24 months and has an additional 13 high-rise residential towers in various stages of development, collectively representing over 8,000 condominium units and $5.6 billon of development value.
About CentreCourt
CentreCourt is a real estate company founded in 2010 and focused on the development of mixed-use, high-rise residential communities located near major amenities, rapid transit networks and employment areas across the Greater Toronto Area (GTA). A fully integrated organization that operates across all areas of development including land acquisition, zoning, design, sales, construction and customer care, CentreCourt is one of the most active high-rise developers in the GTA with four high-rise residential projects completed in the last 24 months and has an additional 13 high-rise residential towers in various stages of development, collectively representing over 8,000 condominium units and $5.6 billion of development value. For more information, visit www.centrecourt.com and on social media at @CentreCourtInc.
SOURCE CentreCourt
For further information: MEDIA CONTACT: Lauren Bondar, NKPR, laurenb@nkpr.net, 647-291-3161
TORONTO, Jan. 20, 2022 /CNW/ – CentreCourt is pleased to announce nine of the company’s long-standing executives across all disciplines – acquisitions, finance, sales and marketing, development and construction – have been named Partners effective immediately.
As one of the top developers in the GTA, CentreCourt stands out for its entrepreneurial approach, ability to identify ambitious, high-potential professionals and commitment to training them to become best-in-class industry experts. It has been part of the company’s DNA since inception to nurture a culture of meritocracy with a view to maximizing project success and corporate growth.
As previously announced, Gavin Cheung assumed the role of President and Managing Partner on January 1, 2022. As part of this significant milestone in the company’s history, the following additional executives have also become partners alongside Andrew Hoffman, Shamez Virani, Stephen Belgue and Gavin Cheung:
• Derek Deutsch, Managing Partner, Chief Operating Officer
• Bader Elkhatib, Partner, SVP Acquisitions
• Jacob Truglia, Partner, VP Business Lead
• Jason Lam, Partner, SVP Sales & Marketing
• Jonathan Levinoff, Partner, SVP Finance
• Joshua Currie, Partner, SVP Construction
• Mitch Gascoyne, Partner, SVP Development
• Nikola Ilic, Partner, SVP Accounting
• Robert Barth, Partner, SVP Construction
“Over the past 11 years, we focused on cultivating a strong leadership team and, as we look to the future, we believe that having leaders that think above and beyond their particular area of responsibility and that look out for the best interest of the entire company is vital to our longterm success.” said Andrew Hoffman, Founding Partner and Chief Executive Officer. “These individuals have distinguished themselves not only through their hard work, dedication and contributions to CentreCourt and project success, but also through their commitment to our culture and principles.”
CentreCourt’s core principles and long-term focus have distinguished the company while fueling its growth trajectory and increasing market-share. The appointment of these nine outstanding individuals to Partner solidifies the company’s long-term growth plans.
About CentreCourt
CentreCourt is a real estate company focused on the development of high-rise residential communities located near major amenities, rapid transit networks and employment areas across the Greater Toronto Area (GTA). A fully integrated organization that operates across all areas of development including land acquisition, zoning, design, sales, construction and customer care, CentreCourt is one of the most active high-rise developers in the GTA with 14 high-rise residential towers in various stages of development, collectively representing over 6,000 condominium units and over $4.0 billion of development value. CentreCourt has significant long-term equity capital that will provide it with the financial means to continue its strong growth trajectory. For more information, visit www.centrecourt.com and on social media at @CentreCourtInc.
SOURCE CentreCourt
For further information: MEDIA CONTACT: Lauren Bondar, NKPR, laurenb@nkpr.net, 647-291-3161
Paul Barker • Special to Postmedia Network
It is no surprise who the target audience for one of the year’s first condominium project launches is: Buyers in the mid-to late 20s or early 30s who want to live downtown and detest the thought of having more than a 15-minute walk to work when and if they can actually go to the office.
The other likely resident living at CentreCourt’s 252 Church development will be students attending nearby Ryerson University or the University of Toronto downtown campus, but in most cases, the owner will be either a landlord or parent.
Still, it is safe to say that with the combination of the two, the 52-storey structure will be populated by younger-aged individuals.
Located at the corner of Church St. and Dundas St., Bader Elkhatib, vice president of CentreCourt, said there is “tremendous demand for well-situated one-bedroom and two-bedroom “Over the next decade, we expect to see ongoing growth in the downtown student population, as well as significant growth in the number of tech workers, young entrepreneurs and immigrant communities who call Toronto home.”
Once completed, 252 Church, according to a release, will be “anchored on its northeast corner by the three-storey tall former Sterling Bank of Canada Building.
“This new condominium will pay homage to the storied history of the area, while its contemporary design looks toward the future.”
As for the type of resident, Elkhatib says that since CentreCourt has developed 11 other properties within 1.2 kilometres of the building, the company “really knows the core demographic of who will eventually live here.”
There is a growing number of technology firms setting up shop in and around the downtown core including Netflix, Google, Tik Tok and Stripe, which means potentially tens of thousands of people will be looking to either rent or buy near where they work.
“Given just the location of 252 Church, the proximity to Ryerson and the proximity to what I call the tech corridor and the financial district, who we envision living here, are primarily young professionals,” says Elkhatib.
He adds they “put a high emphasis on the ability to be able to walk to work or not have to venture too far off the beaten path to get a coffee, go to their favorite restaurant and have entertainment at their doorstep.”
With pricing ranging from the low $500,000s to north of $1 million and units ranging in size from 300-720 sq. ft., the 681 units will be a mix of bachelor, one bedroom, one bedroom plus den and two-bedroom suites with amenities reflecting the age of the buyers.
Plans call for an 8,700 sq. ft. outdoor space with BBQs and dining area, a large games room and lounge, a 5,600 sq. ft. fitness centre that includes a CrossFit studio and designated Peloton lounge, as well as a 1,600 sq. ft. co-working space.
In terms of the latter, Elkhatib says that today, “people want a cool place to work and collaborate, but not in their unit. What the last two years have shown us is that in order to maintain your sanity, you definitely need a change of scenery.
“We have tried to program the building to really allow the residents to make the most of the space.”
It’s only six days into the new year, and Toronto’s pre-construction condo market has shown no signs of a slow start to 2022.
Elkhatib said that there’s been a “sudden uplift,” in the demand for downtown condominium new construction projects, with buyers placing value on building amenities and access to both work and entertainment options. Share on XToday, 252 Church, one of the latest downtown projects from CentreCourt, virtually launched its sales. Zonda Urban, formerly Urban Analytics, verified to Livabl that 252 Church is the first condo project to launch in Toronto and the Greater Toronto Area this year.
“We’re excited to kick off the year with the first AAA+ project launch in downtown Toronto,” Bader Elkhatib, vice-president of CentreCourt, told Livabl. “252 Church Condos is 100% downtown and purchasers, along with the broker community, have taken note. Given the high level of excitement in the market, we’re looking forward to another successful launch.”
On the heels of 2021, dubbed the “Year of the Condo,” Elkhatib noted that Toronto’s new construction market is hot, with several projects anticipated to launch in the coming months. Following a return to offices and in-person learning in the fall, renter and purchaser demand increased, sending condominium rents to a “healthy level of growth,” in Q3-2021.
Elkhatib said that there’s been a “sudden uplift,” in the demand for downtown condominium new construction projects, with buyers placing value on building amenities and access to both work and entertainment options.
“We expect a very busy Q1 with several launches taking place both in the 905, outer 416 and a handful of launches in downtown Toronto,” he said.
252 Church marks the fourth condo launch by CentreCourt since the onset of the pandemic according to Elkhatib. While taking “utmost caution,” during the sales process, the vice president said that CentreCourt has been innovating new ways to generate buzz about its projects. This includes 199 Church’s first live streamed, in-person drive-in project launch in Toronto that took place in July 2020, and the “PRIME on Wheels,” campaign for PRIME Condos that ran in April 2021.
CentreCourt was also behind the mysterious flock of helicopters that flew over Toronto in mid-August, which was discovered to be a platinum event for the WestLine Condos project that launched sales in September.
Located at Dundas and Church streets, the 52-storey 252 Church tower boasts proximity to downtown’s array of amenities and attractions, including Yonge-Dundas Square and the Eaton Centre, plus local universities, major tech offices and the financial district. A total of 681 units will be included in 252 Church, ranging up to 720 square feet in size. Pricing starts from the mid-$500,000s.
Future residents will have access to a 1,600 square-foot co-working space and a 5,600 square-foot, 24/7 gym facility with a Peloton lounge and CrossFit studio. A golf simulator, dog run, gaming lounge and a 24-hour concierge service is also slated for the project according to information on BuzzBuzzHome.
“252 Church is all about location. It is one of the last major corners along the Church Street corridor and arguably the one of the best locations east of Yonge Street to come to market in a very long time,” said Elkhatib.
Paul Barker • Special to Postmedia Network
Everyone knows about Yonge Street — not only as a place to gather — but with the proliferation of condos along the street and nearby, it’s also become a highly desirable place to live.
The pandemic may have slowed things down for now but with the boom in development and the high volumes of pedestrian activity expected to return, the City continues to look at ways to increase pedestrian space and to improve the way people move through and experience it.
Pandemic or not, a movement to modernize the area continues. Toronto city councillors will decide on Tuesday whether to keep a segment of Yonge St. mired in the past or put steps in motion that will result in a complete makeover.
The vote itself revolves around a new watermain construction project between College/ Carleton St. and Queen St. and a far more important accompanying endeavor that will see the number of traffic lanes reduced from four to two in order to expand sidewalk space.
The project, known as yongeTOmorrow received approval this month from the city’s infrastructure and environment committee, which set the stage for this week’s vote. Toronto Centre Councillor Krystyn Wong-Tam said she is cautiously optimistic about an initiative she has been fighting for since shortly after she was first elected in 2010 will be approved.
“You never know what happens on the floor of council, but we have been receiving a lot of positive feedback from councillors. We have not heard of any major objections. The majority of it has been overwhelmingly positive.”
Wong-Tam added that the “sidewalk conditions of Yonge St. especially the downtown portion that is under review are woefully inadequate. City staff have on multiple occasions and in multiple ways stated that this work cannot be deferred because it is tied to the critical infrastructure replacement of the watermains.”
A staff report endorsed in December indicated that Yonge St. has been struggling to serve the growing pedestrian demand, which is a result of more people living and working downtown.
The area, It added, lacks space for “seating, sidewalk cafes and plantings which support enjoyment of the street as a destination. “With a limited right-of-way of 20 metres there are many demands being placed on the street by people walking, cycling, and driving. Prioritization and management of the interactions between all modes is critical. Consideration must also be given to the operation of surface transit, as well as curbside activities like deliveries and ride hailing which support the local economy.”
Wong-Tam, meanwhile, said that with the downtown population expected to double by 2041, the sidewalk and the configuration of the street, “which was last designed in the 1950s is not going to serve the 21st century needs of Toronto.”
The overall plan, which has been largely supported by area residents, is expected to cost $70.5 million, which includes the replacement of a cast iron watermain running between Carleton and Queen built in 1889. Construction would take three years and be completed by 2025.
“In order for us to make sure that we can package the master design with the watermain construction into one big tender, we have to make some decisions now,” said WongTam. “If we don’t do that in a timely fashion and council dithers or decides to defer the decision, it will be a mistake with a heavy price tag.”
Defining it as the “first phase of work,” the second phase will involve a “flip” of the project north from College/Carleton to Davenport Rd., she said.
“That is what is at stake. If city council is not visionary enough to reach for the future with this new design, they will not only slow down this section of Yonge St. they are going to slow down and delay the next section. We will have an entirely modern Yonge St. by the time we are finished. Utility relocation, new lighting, landscaping and watermain renewal.”
Among the supporters is Mitch Gascoyne, vice president of development for CentreCourt, a real estate developer that has built a number of high-rise structures on or near Yonge St. in the downtown core.
With 12 projects in various phases of development, its most recent will be located at the northwest corner of Yonge and Wellesley when it launches this year.
Known as 8 Wellesley Residences, plans call for the 55-storey structure to contain 600 units.
YongeTOmorrow, said Gascoyne, will be good for the city, good for the people who live
nearby and good for business.
“As a result of the pandemic, people are realizing that the city and the way we experience urban spaces has changed,” he said. “The idea of a restaurant being supported by a grand pedestrian way is far more attractive than a restaurant that doesn’t have an area for patio space.
“More foot traffic up and down Yonge with wider sidewalks is only going to be better in
a post pandemic world.” It’s hard to imagine what life will look like post COVID, but urban planners say the demand for vibrant urban spaces will be higher than ever.
TORONTO – Today, Tarion announced the nominees and recipients of its annual Homeowners’ Choice Awards for builders who received the highest ratings from new home buyers and homeowners across the province.
“As an organization dedicated to improving consumer experiences in the home purchasing process, it’s important that we periodically recognize excellence from builders who, in the opinion of their homeowners, have provided positive customer service,” said Peter Balasubramanian, President and CEO of Tarion. “These awards are based on customer experience and service opinions gathered from homeowners through an independent survey process. As we continually work to modernize our organization to ensure fairness and predictability across the sector, we want to congratulate builders who have contributed to positive experiences for so many Ontarians.”
The Homeowners’ Choice Awards focus exclusively on customer service and are informed by surveys completed by new home buyers and homeowners from across the province. In 2019, Tarion surveyed 45,303 new home buyers and homeowners and asked them about their builder’s level of commitment to their customers and performance before, during and after they moved into their new home. We were pleased to see that more than 8,500 homeowners responded, determining the recipients of the 2020
Homeowners’ Choice Awards. The winners are:
• C. Kelos Homes Limited, Thunder Bay – Small Volume Category
• Talos Custom Homes Ltd., Richmond – Medium Volume Category
• Hayhoe Homes, St. Thomas – Large Volume Category
• Plazacorp Investments, Toronto – High-Rise Category
The finalists of the 2020 Homeowners’ Choice Awards are:
Small Volume Category (5-20 possessions per year)
• Benam Construction, St-Isidore
• Brexon Homes Ltd., Waterloo
• Davis New Homes & Developments, Frankford
• Lockwood Brothers Construction, Oxford Station
• Pinnacle Quality Homes, Mitchell
Medium Volume Category (21-100 possessions per year)
• Candue Homes, Durham
• Hilden Homes Ltd., Belleville
• Klemencic Homes, Trenton
• Royal Homes, Wingham
• Wrighthaven Homes Limited, Fergus
Large Volume Category (More than 100 possessions per year)
• Activa, Waterloo
• Branthaven, Burlington
• Brookeld Residential, Toronto
• Great Gulf Homes, Toronto
• Uniform Urban Developments, Ottawa
High-Rise Category (More than 100 high-rise possessions per year)
• Centrecourt Developments, Toronto
• Madison Group, Toronto
• Minto Communities, Ottawa
• The Tricar Group, London
• Tridel
Ernest Assaly Award
In 2017, Tarion introduced a new honour – the Ernest Assaly Award – for an Ontario builder who demonstrates a continued commitment to customer service, community involvement and building quality and innovative housing. While Tarion’s Homeowners’ Choice Awards focus primarily on customer service, the Ernest Assaly Award is similar to a lifetime achievement award.
The recipient of the 2020 Ernest Assaly Award is:
• Waito Homes, Petawawa
The finalists of the 2020 Ernest Assaly Award are:
• Castell Homes, London
• Westerra Homes, Kemptville
• Wilson Developments (Lindsay) Inc.
