MEDIA RELEASE
March 19, 2018, VANCOUVER, BC – Concert Real Estate Corporation (Concert) today strengthened its presence in the vibrant Toronto real estate market by announcing the acquisition of 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.
About Concert
Founded in 1989, Concert specializes in developing rental apartments, condominium homes and retirement communities, acquiring and developing office, industrial and infrastructure properties and in property management. With operations across Canada and the backing of more than 200,000 Canadians represented by the union and management pension plans who own Concert, our commitment is to build strong, sustainable communities across Canada.
Media Contact
Eduarda Hodgins
Director, Corporate Communications
EHodgins@ConcertProperties.com | 604.602.3822