Developer acquires $10.7 million Vaughan land parcel for townhouse development

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Ontario Construction News staff writer

LibertyHill Realty Partners Inc. said last Thursday that it has closed its first Limited Partnership equity investment of $10,701,000 to acquire and oversee the development of a parcel of land  in Vaughan. Together with its developer partner, Caliber Homes Inc., the firm intends to develop the land into a low-rise residential community consisting of 70 freehold townhomes.

The developers say the 4.13-acre site is located in the southwest quadrant of Highway 27 and Rutherford Road in Vaughan, between the Kleinburg and Woodbridge communities,

“The West Vaughan district, is highly sought after due to its proximity to Pearson International Airport, the major 400 series highways, including the recent Highway 427 extension, and countless businesses, schools, hospitals and mature communities,” Donato Sferra, CEO of LibertyHill Realty Partners, said in a statement.

“Vaughan continues to attract investments throughout many sectors that will see growth in population, talent and businesses. We anticipate that the demand for housing in the region will continue to increase. We are thrilled to be investing in this flourishing region and are excited to be working with our partner, Caliber Homes, to develop this community.”

“Caliber Homes has a strong history of successful developments in the City of Vaughan, and we are pleased to add this exceptional piece of real estate to our portfolio, together with our new real estate partners, LibertyHill,” said Danny DiMeo, CEO of Caliber Homes. “I am pleased and excited to launch and bring to the market “Rutherford Heights” as collaborated effort between Caliber Homes and LibertyHill. Rutherford Heights will be a collection of beautiful, modern freehold townhomes, in the heart of Vaughan.”

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