en.Wedoany.com Reported - Stafford and DBS Developments have announced a partnership to build a purpose-built rental tower at 11-21 Johnston Avenue in Toronto's Yonge and Sheppard neighborhood. This marks the first collaboration between the two companies.

The project, valued at $92.5 million CAD, is currently in the design phase. The site is approximately 130 meters from the nearest entrance of Sheppard-Yonge Station, with a proposed 48-story building. According to a development application submitted earlier this year, the project plans to include 524 rental units, with a total residential area of approximately 350,709 square feet, designed by Turner Fleischer Architects, spanning a collection of multiple properties.

Stafford President Jonathan Goldman stated in a press release that the Yonge and Sheppard area is one of the most underserved nodes for rental housing in the city, with strong rental demand in the region, and such developments are exactly what the city needs. This partnership is the first of several projects the two companies are advancing together.

DBS Developments CEO Bryan Levy expressed excitement about collaborating with Stafford to create a purpose-built rental community that will become a landmark for the neighborhood and the city. He noted that as demand for professionally managed rental housing continues to grow, it is increasingly important for long-term projects to be delivered by experienced developers and operators.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com