TORONTO – Hazelview Investments has issued an update on its 520-unit rental residential project at 73 and 75 Broadway Avenue in Toronto, a complex that includes 336 new suites in a 38-storey tower and upgrades to 184 units in an older residential building built in the 1960s.
The 262,000-square-foot development is slated for completion in Q2 2025. A key design feature is a cantilevered facade spanning floors 10 through 22 that minimizes the building’s footprint, stated an Oct. 1 release.
Sustainability features include a high-performance building envelope, sustainable electrical distribution, waste diversion and a focus on sustainable transportation including EV charging stations and dedicated bike stalls.
Hazelview is also introducing significant mechanical and electrical upgrades at 75 Broadway, the existing tower, with a 95-per-cent GHG reduction of the heating system through electric heat pumps, while pursuing CAGBC certifications for green building standards.
There will be 15,000 square feet of shared amenities including a fitness centre, co-working space, rooftop terrace and lounges.
Hazelview is employing an integrated development model on the project as real estate investment manager, developer and property manager.
Commented Michael Williams, managing partner and head of real estate developments at Hazelview, “This project is unique as it allowed us to bring new rental product to market while finding hidden value in aging product where we could advance sustainability initiatives. Seeing years of hard work and dedication come to fruition reaffirms our commitment to investing in growing sustainable communities that more people can call home.”
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