Greybrook Realty Partners invests $43.46 million for Tribute Communities highrise in Toronto

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Ontario Construction News staff writer

Greybrook Realty Partners Inc. says it has successfully closed an equity investment by its managed issuer of $43,460,000 to acquire and oversee the development of a prime parcel of land located at 1325-1361 The Queensway in  Toronto.

Together with its developer partner, Tribute Communities, the firm intends to develop the property into a two-tower, high-rise mixed-use condominium building with more than 1,100 units and more than 10,000 sq. ft. of commercial space at grade.

The 2.17 acre  development site is located at the southwest corner of Kipling Avenue and The Queensway in Toronto’s South Etobicoke community.

“With its proximity to the downtown core and its transportation and transit connectivity, the Queensway corridor is emerging as a comprehensive and vibrant residential node,” said Alex Riajskikh, executive director, Private Capital Markets, Greybrook Realty Partners. “This is Greybrook’s second planned development site along The Queensway, and we are looking forward to building out the neighbourhood and providing much needed housing in this great location.”

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