Category: General

Published by Matias Bessai

Advancing their reputation for anticipating the next community primed for intensification, developer CentreCourt is establishing a presence in the emerging heart of Downtown Etobicoke with a new high-rise development dubbed Kipling Station Condos. Designed by B+H Architects, the proposal contemplates the construction of a 50-storey tower located directly adjacent to the Kipling Transit Hub. The transit-oriented development will deliver a total of 552 new units to the Etobicoke community, and is expected to launch on May 8th. 

Located at 5251 Dundas Street West, the site benefits from a unique concentration of transit options converging at the Kipling Transit Hub. Expanded in mid-2021, the transit hub transforms the existing Kipling TTC and GO stations into the major regional transit node it was meant to be, adding GO Transit and Mi-Way buses to the and GO trains and TTC buses and subway trains that have met here for decades. Among the host of transit services offered at the hub, riders can enjoy 30 minute connections to Union Station and Downtown Toronto, and 15 minute service to Pearson Airport.

Additionally, the Kipling Transit Hub is slated to be the eastern terminus for a new east-west express bus service, the Dundas Bus Rapid Transit (BRT). Scheduled to begin construction in 2025, the project will see the creation of a 48-kilometre transit corridor that connects Etobicoke directly to the western GTA, serving Mississauga, Oakville, and Burlington before terminating in Hamilton, with more than 20 kilometres of clear sailing on dedicated bus lanes that separate the BRT service from commuter traffic. 

Also located within the immediate vicinity of CentreCourt’s development is the planned Etobicoke Civic Centre, a mixed-use project from CreateTO that promises to bring a new anchor to Etobicoke’s Downtown. Offering extensive municipal office and cultural uses, the complex is slated to deliver over 700,000ft² of total floorspace, and will also include a new community centre component featuring fitness studios, aquatic facilities, and outdoor gathering spaces making up about 10% of that total.

Zooming out to the wider area, shopping destinations like Sherway Gardens and Cloverdale Mall are a short transit trip away, as are a number of education and employment opportunities including Humber College and U of T Mississauga Campus. Recognizing the local features that add value to the site was a big part of CentreCourt’s decision to invest in the area, and reflects the company’s drive to be involved in the process of establishing new urban hubs in emerging communities. 

Digging into some of the details of the project’s design, the building breaks down into two volumes, a four-storey podium topped by a 46-storey tower. The massing of the tower remains mostly unchanged for the majority of its height, but features an interesting shift in its middle third that adds some visual interest. Beginning at the 15th floor, the tower’s floorplate rotates slightly, breaking up the continuous condition of the elevations; after another 12 floors, the floorplate is restored to its original position, and continues unchanged for the remainder of the tower’s vertical climb. 

Also of interest in the massing is the chamfered corner, which helps to emphasize the shift in the floorplate, and is expressed further in the podium as well. Meanwhile, the building’s dark material palette is accented with flashes of gold that appear in the soffits as well as in narrow vertical fins on the tower elevations. 

Moving on to the programming of the building, the proposal details a total of 22,000ft² of total amenity area, split evenly between indoor and outdoor spaces designed by Figure3 and Land Art Design Landscape Architects Inc respectively. Indoor offerings will include lifestyle spaces like a fitness centre, hosting lounge, and party rooms, as well as a number of work spaces like private boardrooms, zoom/social media rooms, and co-working spaces. Outdoor spaces are highlighted by a lounge with cabanas and daybeds, a barbecue and dining area, a fire pit lounge, a garden, and even a dog run area. 

For all the amenities included within the project itself and the surrounding community, affordability is a pillar of CentreCourt’s development approach, and is a key aspect of their mission to urbanize Downtown Etobicoke. According to the developers, the project is expected to hit the market with an accessible entry point in the 400’s, a price point which is made possible by a number of factors. At the base of all their projects, CentreCourt strives to acquire land at attractive price points, keeping upfront costs down by not overpaying for development sites. The company also prides itself on the ability to adhere to a stringent construction budget and timeline, minimizing additional costs in the development process. 

With a project launch just around the corner, Kipling Station Condos will soon enter the market, kickstarting CentreCourt’s long-term vision for Downtown Etobicoke. 

Published by Steve McLean

Canadian Apartment Properties REIT (CAPREIT) has proposed a phased seven-tower redevelopment of its Tangreen Court property near Yonge Street and Steeles Avenue West in Toronto.

The 5.9-acre property immediately west of Centerpoint Mall was acquired by CAPREIT (CAR-UN-T) in 2012 and is home to two purpose-built rental apartments at 5 and 15 Tangreen Ct. that were constructed in 1969. 

The intensification of the site would provide:

• 3,325 new residential units;
• close to 100,000 square feet of indoor and outdoor amenities;
• a 20,000-square-foot-plus public park;
• a 9,200-square-foot retail component fronting Steeles;
• underground parking for 617 motorized vehicles;
• 2,497 bicycle storage spaces;
• a children’s play area; and
• landscaped spaces designed by Land Art Design Landscape Architects Inc. and pedestrian paths.

This would be developed over 10 to 15 years.

Julian Schonfeldt became CAPREIT’s chief investment officer last summer, joining the trust after serving as managing director of RBC Capital Markets Real Estate Group.

One of his priorities has been to comb through the portfolio to find where land values can be maximized and housing can be added because it’s in desperately short supply in the Greater Toronto Area.

“We identified a number of sites, but we thought that this site in particular was very attractive so we moved quickly on getting a development application in place,” Schonfeldt told RENX.

“Given the amount of land that we own there, and the planned subway extension, we thought that this one was the site that should move to the top of the priority list.” 

CentreCourt is development manager

CentreCourt Developments is being paid a fee as the development manager for the IBI Group-designed project and will team up with CAPREIT through the entitlement process.

The real estate investment trust will maintain the flexibility to move forward as it wishes after that.

“CentreCourt was selected based on its deep expertise across the entire development cycle and its track record of delivering successful projects that enhance communities across the GTA,” Schonfeldt said. 

“CentreCourt will be working jointly with CAPREIT on the municipal approvals process and CAPREIT is going to continue operating the existing buildings on the site.”

The proposal is in the early stages of seeking a go-ahead for official plan and zoning bylaw amendments as well as site plan approval.

The development will offer both rental and condominium units, with the majority currently proposed to be condos.

Schonfeldt said the final determination on the rental and condo mix, as well as for the unit mix and size range, will be based on market demand.

There are plans, however, for 30 townhouse-style units and for three-bedroom units to comprise about 10 per cent of the total.

The 18-storey, 214-unit apartment at 15 Tangreen would be retained, while the 18-storey apartment at 5 Tangreen would be demolished and 214 replacement units for existing tenants would be incorporated into one of the new buildings on the site.

Development to be done in four phases

Four phases are planned for the ambitious project. The first would include 55- and 40-storey towers atop eight-storey podiums as well as a large portion of an east-west public road. 

Phase 2 would include two 25-storey towers sharing a six-storey podium, one of which would house relocated tenants from 5 Tangreen before it’s demolished. 

“The proposal purposely contemplates a phased approach to minimize disruption to the residents at both 5 and 15 Tangreen,” Schonfeldt said.

“We feel pretty excited to be offering eligible tenants at 5 Tangreen new housing stock in the master-planned development with very limited disruption to their day-to-day. 

“They don’t need to move off-site during the construction period or prior to completion of the rental replacement units. When Phase 2 is complete, our hope is that the residents will be able to move one time into another unit on-site.

“To the best of our knowledge, that’s unprecedented to be done at any meaningful scale. The typical scenario is that these folks are moved off-site and it’s disruptive to their lives.

“They have to potentially change schools for their children and they end up having to do two moves. While that may end up being economically favourable for developers, we’re an apartment provider first and development is more of an ancillary business.

“We really wanted to have the treatment of our residents be at the forefront of our decision and that’s what we did here. We feel very proud about that.” 

Additional market rental units are being contemplated for the tower with the replacement units.

The third phase would include: the demolition of 5 Tangreen; the construction of 55-, 45- and 35-storey towers on eight-storey podiums; and the conveyance of the park to the City of Toronto.

The final phase would see the east-west road completed and connected to a road on the eastern border and the Centerpoint Mall site.

Many other proposed developments in area

The Newtonbrook West area should see plenty of new multiresidential construction in addition to CAPREIT’s proposal, in large part due to Metrolinx‘s plan to extend the Toronto Transit Commission’s Line 1 subway northward and include a new station at Yonge and Steeles.

Morguard-owned Revenue Properties Company Ltd.’s planned mixed-use redevelopment of the 1960s-built, 594,655-square-foot, enclosed Centerpoint Mall would see the construction of 22 new buildings with 8,325 residential units and a large public park.

Osmington Gerofsky Development Corporation has proposed a 50-storey mixed-use tower at 6355 Yonge St., a site currently occupied by a Starbucks restaurant and surface parking.

There are also redevelopment proposals for low-density properties immediately north of Steeles in Vaughan and Markham.

Schonfeldt compared this area to what’s already taking place farther south at Yonge and Eglinton Avenue, with the forthcoming arrival of the Eglinton Crosstown LRT.

“There’s a lot of development activity along Steeles in anticipation of the planned subway station there, which we think will unlock some pretty material benefits to our residents in the community,” Schonfeldt said. 

Published by Laura Hanrahan

Toronto’s Newtonbrook West neighbourhood may soon be in store for yet another transformative development as Canadian Apartment Properties REIT (CAPREIT) looks to build seven high-rise towers immediately west of Centerpoint Mall.

CAPREIT, one of Canada’s largest residential REITs, submitted an application to the City of Toronto late last month outlining plans to develop the towers as infill housing on the site of two of its existing rental buildings at 5 and 15 Tangreen Court. If approved, the development would bring 3,325 new residential units to the area.

To deliver the project, CAPREIT is partnering with CentreCourt Developments. Julian Schonfeldt, Chief Investment Officer for CAPREIT, tells STOREYS that CentreCourt was selected “based on their deep expertise across the entire development cycle, and their track record of delivering successful projects which enhance communities across the GTA.”

Construction of the towers, which range from 25 to 55 storeys in height, would require the rental building at 5 Tangreen to be demolished, with 214 replacement units going in the new development. The 18-storey rental at 15 Tangreen, on the other hand, would be retained and incorporated into the new development. Of the seven new towers, there would be two 55-storeys, one 45-storey, one 40-storey, one 35-storey, and two 25-storeys.

Toronto’s Newtonbrook West neighbourhood may soon be in store for yet another transformative development as Canadian Apartment Properties REIT (CAPREIT) looks to build seven high-rise towers immediately west of Centerpoint Mall.

CAPREIT, one of Canada’s largest residential REITs, submitted an application to the City of Toronto late last month outlining plans to develop the towers as infill housing on the site of two of its existing rental buildings at 5 and 15 Tangreen Court. If approved, the development would bring 3,325 new residential units to the area.

To deliver the project, CAPREIT is partnering with CentreCourt Developments. Julian Schonfeldt, Chief Investment Officer for CAPREIT, tells STOREYS that CentreCourt was selected “based on their deep expertise across the entire development cycle, and their track record of delivering successful projects which enhance communities across the GTA.”

Construction of the towers, which range from 25 to 55 storeys in height, would require the rental building at 5 Tangreen to be demolished, with 214 replacement units going in the new development. The 18-storey rental at 15 Tangreen, on the other hand, would be retained and incorporated into the new development. Of the seven new towers, there would be two 55-storeys, one 45-storey, one 40-storey, one 35-storey, and two 25-storeys.

The towers were designed as “point towers” — a compact, slender building form — which planning documents say will “ensure adequate access to sky view, light, and privacy.” All sit atop eight-storey podiums, except for the 25-storey towers, which will share a six-storey podium.

“We are proud and excited about the design,” Schonfeldt said. “It tackles a number of important priorities that incorporates considerations for rental and condo development, while bringing much needed density and amenities to the larger community.”

Newtonbrook West is no stranger to transformative development proposals as of late. In fact, CAPREIT and CentreCourt’s development is one of several proposed for the immediately surrounding Yonge and Steels area over the past year or two. Just last month, Osmington Gerofsky Development Corporation proposed a 50-storey mixed-use tower on the neighbouring 6355 Yonge Street. But the most notable project is undoubtedly the proposed 22-building redevelopment of Centerpoint Mall that would add 8,325 residential units and a large public park.

“These Tangreen properties, they’re really at the heart of an area that we think is witnessing a pretty incredible transformation,” Schonfeldt said. “We’re an apartment business first, not a developer per se, but we own an incredible site that could be so much more for the community. As a proud Canadian business that is deeply invested in providing housing, it was somewhere between an opportunity and a responsibility to A. treat our residents with as much care as possible and then B. add to the housing stock that is so desperately needed across the city.”

The towers, totalling 230,078 sq. m with 852 sq. m of that being used for retail space, would be arranged with the taller buildings located on the northern side of the site, and heights gradually decreasing to the south. A new east-west public street would divide the development site in two, with a new 1,910-sq.-m public park going on the southwest corner. The park, planning documents say, is still in a conceptual design stage, but current ideas include a mix of open and planted green areas with pathways and seating, as well as various recreational spaces.

A 238-sq.-m children’s play area would go between towers F (45 storeys) and G (35 storeys), with the rest of the property featuring tree-lined public boulevards, landscaped “rooms,” entrance plazas, and common amenity spaces.

Inside the towers, the majority of units will be condos, but the final mix, Schonfeldt says, will be based on future market demand. The rental replacement units will be located in tower D (25 storeys) and CAPREIT is currently considering additional market rental units in that building. Unit sizes, however, have been decided upon, with 2,371 one-bedrooms, 615 two-bedrooms, and 339 three-bedrooms planned.

Toronto’s Newtonbrook West neighbourhood may soon be in store for yet another transformative development as Canadian Apartment Properties REIT (CAPREIT) looks to build seven high-rise towers immediately west of Centerpoint Mall.

CAPREIT, one of Canada’s largest residential REITs, submitted an application to the City of Toronto late last month outlining plans to develop the towers as infill housing on the site of two of its existing rental buildings at 5 and 15 Tangreen Court. If approved, the development would bring 3,325 new residential units to the area.

To deliver the project, CAPREIT is partnering with CentreCourt Developments. Julian Schonfeldt, Chief Investment Officer for CAPREIT, tells STOREYS that CentreCourt was selected “based on their deep expertise across the entire development cycle, and their track record of delivering successful projects which enhance communities across the GTA.”

Construction of the towers, which range from 25 to 55 storeys in height, would require the rental building at 5 Tangreen to be demolished, with 214 replacement units going in the new development. The 18-storey rental at 15 Tangreen, on the other hand, would be retained and incorporated into the new development. Of the seven new towers, there would be two 55-storeys, one 45-storey, one 40-storey, one 35-storey, and two 25-storeys.

The towers were designed as “point towers” — a compact, slender building form — which planning documents say will “ensure adequate access to sky view, light, and privacy.” All sit atop eight-storey podiums, except for the 25-storey towers, which will share a six-storey podium.

“We are proud and excited about the design,” Schonfeldt said. “It tackles a number of important priorities that incorporates considerations for rental and condo development, while bringing much needed density and amenities to the larger community.”

Newtonbrook West is no stranger to transformative development proposals as of late. In fact, CAPREIT and CentreCourt’s development is one of several proposed for the immediately surrounding Yonge and Steels area over the past year or two. Just last month, Osmington Gerofsky Development Corporation proposed a 50-storey mixed-use tower on the neighbouring 6355 Yonge Street. But the most notable project is undoubtedly the proposed 22-building redevelopment of Centerpoint Mall that would add 8,325 residential units and a large public park.

“These Tangreen properties, they’re really at the heart of an area that we think is witnessing a pretty incredible transformation,” Schonfeldt said. “We’re an apartment business first, not a developer per se, but we own an incredible site that could be so much more for the community. As a proud Canadian business that is deeply invested in providing housing, it was somewhere between an opportunity and a responsibility to A. treat our residents with as much care as possible and then B. add to the housing stock that is so desperately needed across the city.”

The towers, totalling 230,078 sq. m with 852 sq. m of that being used for retail space, would be arranged with the taller buildings located on the northern side of the site, and heights gradually decreasing to the south. A new east-west public street would divide the development site in two, with a new 1,910-sq.-m public park going on the southwest corner. The park, planning documents say, is still in a conceptual design stage, but current ideas include a mix of open and planted green areas with pathways and seating, as well as various recreational spaces.

A 238-sq.-m children’s play area would go between towers F (45 storeys) and G (35 storeys), with the rest of the property featuring tree-lined public boulevards, landscaped “rooms,” entrance plazas, and common amenity spaces.

Inside the towers, the majority of units will be condos, but the final mix, Schonfeldt says, will be based on future market demand. The rental replacement units will be located in tower D (25 storeys) and CAPREIT is currently considering additional market rental units in that building. Unit sizes, however, have been decided upon, with 2,371 one-bedrooms, 615 two-bedrooms, and 339 three-bedrooms planned.

Development is expected to take place in four phases. The first phase would see the construction of a large portion of the east-west public road, as well as towers A (55 storeys) and B (40 storeys). In phase 2, towers C and D would be built, after which tenants would be relocated to the rental replacement units in tower D — a move that will keep tenants on the property and stop them from having to move into temporary accommodations during construction.

“That was by design, and a duty of care to our residents. We didn’t take the easy way, from a financial point of view, but just being a responsible provider of rental housing, it was one of the most important considerations,” Schonfeldt said. “Our residents and their families get to stay in the same schools, they get to stay in the same neighbourhood. I think it’s going to be well received and we hope we’re setting a good precedent in Toronto about how to do it in a responsible way that considers residents first.”

Toronto’s Newtonbrook West neighbourhood may soon be in store for yet another transformative development as Canadian Apartment Properties REIT (CAPREIT) looks to build seven high-rise towers immediately west of Centerpoint Mall.

CAPREIT, one of Canada’s largest residential REITs, submitted an application to the City of Toronto late last month outlining plans to develop the towers as infill housing on the site of two of its existing rental buildings at 5 and 15 Tangreen Court. If approved, the development would bring 3,325 new residential units to the area.

To deliver the project, CAPREIT is partnering with CentreCourt Developments. Julian Schonfeldt, Chief Investment Officer for CAPREIT, tells STOREYS that CentreCourt was selected “based on their deep expertise across the entire development cycle, and their track record of delivering successful projects which enhance communities across the GTA.”

Construction of the towers, which range from 25 to 55 storeys in height, would require the rental building at 5 Tangreen to be demolished, with 214 replacement units going in the new development. The 18-storey rental at 15 Tangreen, on the other hand, would be retained and incorporated into the new development. Of the seven new towers, there would be two 55-storeys, one 45-storey, one 40-storey, one 35-storey, and two 25-storeys.

The towers were designed as “point towers” — a compact, slender building form — which planning documents say will “ensure adequate access to sky view, light, and privacy.” All sit atop eight-storey podiums, except for the 25-storey towers, which will share a six-storey podium.

“We are proud and excited about the design,” Schonfeldt said. “It tackles a number of important priorities that incorporates considerations for rental and condo development, while bringing much needed density and amenities to the larger community.”

Newtonbrook West is no stranger to transformative development proposals as of late. In fact, CAPREIT and CentreCourt’s development is one of several proposed for the immediately surrounding Yonge and Steels area over the past year or two. Just last month, Osmington Gerofsky Development Corporation proposed a 50-storey mixed-use tower on the neighbouring 6355 Yonge Street. But the most notable project is undoubtedly the proposed 22-building redevelopment of Centerpoint Mall that would add 8,325 residential units and a large public park.

“These Tangreen properties, they’re really at the heart of an area that we think is witnessing a pretty incredible transformation,” Schonfeldt said. “We’re an apartment business first, not a developer per se, but we own an incredible site that could be so much more for the community. As a proud Canadian business that is deeply invested in providing housing, it was somewhere between an opportunity and a responsibility to A. treat our residents with as much care as possible and then B. add to the housing stock that is so desperately needed across the city.”

The towers, totalling 230,078 sq. m with 852 sq. m of that being used for retail space, would be arranged with the taller buildings located on the northern side of the site, and heights gradually decreasing to the south. A new east-west public street would divide the development site in two, with a new 1,910-sq.-m public park going on the southwest corner. The park, planning documents say, is still in a conceptual design stage, but current ideas include a mix of open and planted green areas with pathways and seating, as well as various recreational spaces.

A 238-sq.-m children’s play area would go between towers F (45 storeys) and G (35 storeys), with the rest of the property featuring tree-lined public boulevards, landscaped “rooms,” entrance plazas, and common amenity spaces.

Inside the towers, the majority of units will be condos, but the final mix, Schonfeldt says, will be based on future market demand. The rental replacement units will be located in tower D (25 storeys) and CAPREIT is currently considering additional market rental units in that building. Unit sizes, however, have been decided upon, with 2,371 one-bedrooms, 615 two-bedrooms, and 339 three-bedrooms planned.

Development is expected to take place in four phases. The first phase would see the construction of a large portion of the east-west public road, as well as towers A (55 storeys) and B (40 storeys). In phase 2, towers C and D would be built, after which tenants would be relocated to the rental replacement units in tower D — a move that will keep tenants on the property and stop them from having to move into temporary accommodations during construction.

“That was by design, and a duty of care to our residents. We didn’t take the easy way, from a financial point of view, but just being a responsible provider of rental housing, it was one of the most important considerations,” Schonfeldt said. “Our residents and their families get to stay in the same schools, they get to stay in the same neighbourhood. I think it’s going to be well received and we hope we’re setting a good precedent in Toronto about how to do it in a responsible way that considers residents first.”

The third phase of construction would see the demolition of 5 Tangreen, the construction of towers E, F, and G, and the conveyance of the parkland. The final phase would wrap up the project with the completion of the east-west road, connecting it to the existing road between the development site and Centerpoint Mall.

Such an expansive development will take quite some time to complete, with Schonfeldt estimating anywhere from 10-15 years for the final phase to wrap up. The plans are currently being reviewed by the City and will need to make their way through Council to obtain approval.

The biggest names in Toronto’s real estate and business worlds united for some friendly (but intense) competition as the 16^th 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.”

Michelle McNally

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.

Today, 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.