A new 5295 m2 (57,000 sf) condominium development in midtown Toronto received $48 million in construction funding from Vancouver-based real estate lender Trez Capital.
The loan will support construction of a four-storey building, located at Mount Pleasant and Eglinton. The project will feature 36 modern, high-end units ranging from 74 to 232 m2 (800 to 2500 sf). Each unit features a sprawling outdoor space with either a private terrace, backyard or rooftop.
Trez is partnering with Freed Developments for the project, an anchor for the company’s strategic approach to the Eastern Canada market
“Toronto is a competitive market for condo development, so it’s important to provide a unique offering to the market,” said Peter Freed, CEO and founder of Freed. “This building will ensure that residents have the chance to enjoy their own piece of the outdoors as well as living at a key intersection of midtown Toronto. We look for certain factors when we choose neighbourhoods and we’re excited about this area in particular. Trez is the perfect partner for this project because we have a similar vision in what we’re looking to create.”