TORONTO, ONT. — Minto Capital Management Inc. has announced three Greater Toronto Area (GTA) projects that will boost rental housing stock by 645 units and will renovate other rentals.
The largest project is 501-unit rental tower being built at 39 Niagara St. in Toronto, unveiled by Minto earlier this month.
The project is located at the northeast corner of Bathurst and Front streets in the Downtown West district of Toronto, a media statement said. Besides the housing, 39 Niagara will offer 54,700 square feet of retail space and more than 25,000 square feet of indoor/outdoor amenities.
The site is located next to the Minto Westside building at 27 Bathurst, with 690 condo units that are 99 per cent sold. Construction of both projects is underway with occupancy expected in February 2019 for the condominium tower and July 2019 for the rental units.
A second rental project is 1235 Marlborough in Oakville, under construction north of the Queen Elizabeth Way in the College Park neighbourhood at Trafalgar and Upper Middle Road. It’s a 14-storey building that will have 144 units.
The company broke ground on the property on June 4, 2017 and marked the building’s topping off on Jan. 22, 2018, noted an April release. Construction of the project is currently on target with pre-leasing underway. Move-ins are expected to begin August 2018.
The pet-friendly building will feature mostly two- and three-bedroom units and is close to public transit, Oakville Place mall, schools and hospitals, the release indicated. Apartments will feature kitchens and bathrooms with quartz countertops, six energy-efficient appliances, vinyl tile throughout the suite and blinds installed in the living room and bedroom area. Amenities include a fitness room with yoga space, an indoor common area, quiet study rooms, bike racks, underground parking and an onsite resident services office.
“In developing 1235 Marlborough, we’re proud to deliver a premium rental product that is under-supplied in the GTA market,” said Rob Pike, president of Minto Capital, in the statement. “This rental building will help fill a niche for rental housing in the Sheridan College area and provides a solid investment opportunity for our investors.”
A renovation project is currently underway at Minto’s 17-storey 61 Yorkville Avenue property in Toronto. The property provides short and long-term rentals in 181 furnished and unfurnished suites, a May 14 release said.
Renovated suites are available in both the Yorkville Collection, with one- and two-bedroom suites, and the Prince Arthur Collection, with two- and three-bedroom penthouse suites. Renovations to 60 per cent of the units are expected to be completed in 2018. Amenity updates have been completed and include a new lobby, party room, media room and a renovated fitness centre.
Minto Capital is the investment management division of Minto Properties and wholly owned subsidiary of the Minto Group.
Recent Comments
comments for this post are closed