Concert Acquires Significant Rental Development Site in Downtown Toronto, Ontario

March 18, 2009

Concert proposes to build a highrise multi-family rental development in Toronto.

Vancouver, BC, Canada – Concert is pleased to announce that it has acquired a significant development site in the heart of Toronto’s downtown core.

Located on the southwest corner of Bay Street and Dundas Street West, the 0.8 acre land parcel, currently a commercial parking lot, is exceptionally suited for a highrise multi-family rental development.

Approved for a 26-storey tower, the proposed development will accommodate approximately 330,000 square feet with 448 rental units and premiere retail at grade.

“Toronto continues to be one of the fastest growing cities in the country, and as a result, is experiencing a growing demand for rental housing,” said Brian McCauley, Executive Vice President, Concert Properties. “With 20 years as a market leader in rental development, Concert sees this site as an exceptional and rarely available opportunity to build a new rental project in the heart of the City of Toronto."

Concert has completed three highrise rental housing projects in the Toronto marketplace including Jazz in downtown Toronto, Prelude in North York and Serrano at Village Gate West in Etobicoke. The company also recently completed Tapestry at Village Gate West, a 168-suite rental seniors living community. This acquisition at Bay and Dundas Street West represents the ninth residential development site in Concert’s growing Ontario portfolio and further strengthens the company’s reputation as a leader in the development of assured multi-family rental housing.

About Concert Properties
Concert is an award-winning diversified real estate enterprise involved in developing and acquiring commercial and industrial properties, rental housing, multi-family condominium housing, seniors living communities, and resort developments in British Columbia, Alberta and Ontario.

For media inquiries contact:
Heather Harley
Telephone: 604.602.3713

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