TORONTO, June 24, 2021 (GLOBE NEWSWIRE) -- Marlin Spring, along with its capital partner Greybrook Realty Partners, has acquired a 1.12 acre property on Cosburn Avenue in the Broadview North neighborhood, in the heart of Toronto’s Old East York Region and plans to develop and construct a significant multi-tiered residential building.
“The central location of the project affords future residents access to numerous existing and planned public transportation options, a vast network of local amenities in an already successful and well-established community - key attributes that contribute to the success of all Marlin Spring developments,” said Pedro Lopes, Sr. Vice President, Land Development & Acquisitions. “In addition to providing new housing, the development will integrate a public park that will be a welcomed amenity for current and future residents, who we consider to be integral stakeholders in all our development initiatives."
The site is within walking distance to three existing TTC subway stations, a city-proposed new subway station and is situated just east of the Don Valley Parkway Express, providing a 15 minute commute to the downtown core. The site boasts incredible amenities being just a few minutes walk to the shops in Danforth Village, Evergreen Brickworks, Riverdale Park and many other parks and trails in the Lower Don Parklands.
Erin Millar, Vice President, Sales and Marketing commented, “We look forward to bringing this exciting project to market. With transit, amenities and the city centre nearby as well as major thoroughfare access, this site is another great addition to our ever-growing portfolio of well-positioned assets that will command attention in Toronto's condominium landscape.”
The development will provide over 300 homes to Toronto’s East End neighborhood. “The challenge surrounding housing affordability, a household discussion for some time, will be alleviated only through increased, well though-out supply in in-demand locations,” says Benjamin Bakst, CEO, Marlin Spring. “Marlin Spring is proud to be known for doing its part to fill this need through its focused approach of providing homes where they are most needed, which is well-represented by this acquisition as well as its past, ongoing and forthcoming development projects.
We are proud to continue our long-standing relationship with our capital partners, Greybrook Realty Partners who’s expertise and broad insight across the industry is sure to add tremendous value to this project and we look forward to continuing to build on this relationship for many years to come.”
ABOUT MARLIN SPRING
Marlin Spring is a Toronto-based real estate investment firm, which strategically acquires, develops, constructs and repositions assets throughout North America. Since 2013, Marlin Spring has seen substantial growth, having acquired over 40 projects, consisting of 10,000 residential units which are currently in various stages of development, construction, repositioning and completion across Canada and the United States. With a portfolio of over 9 million square feet of residential GFA and an estimated completion value of over $4.7 billion, Marlin Spring has been one of the more active investors in the development, multifamily residential and retirement communities sectors. Marlin Spring has over 100 real estate professionals involved in all aspects of the acquisition, development, construction and asset management of its portfolio.
For more information: www.marlinspring.com
For further information regarding Marlin Spring:
Rivki Mandelbaum, Director, Corporate Strategy & Communication
E: rmandelbaum@marlinspring.com
T: 416.619.3550 x346
Follow Marlin Spring on LinkedIn @marlinspring