TORONTO, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Marlin Spring has acquired a 2.8 acre (1.13312 hectares) property in Toronto's Junction Triangle neighbourhood along the Sterling strip.
Future development will “serve as a form of urban acupuncture, filling in and connecting the currently vacant lands that surround the Museum of Contemporary art to the broader community by offering new housing, retail and office opportunities while contributing to community infrastructure with a new public park, road and connections to the West Toronto Railpath,” said Marlin Spring’s Pedro Lopes, Senior Vice President, Developments.
The developers will implement the public realm focused master plan to deliver over one million square feet of residential, retail and commercial space, including a new child care facility and affordable housing.
With unrivalled access to public transit and cycling infrastructure, the site is located within walking distance of the second largest transportation hub in the City. Access to the UP Express offers a 10-minute ride to Union Station and a 15-minute ride to Pearson International airport.
Added Lopes, “By developing new housing, retail opportunities and community infrastructure Marlin Spring hopes to make a positive contribution to this already thriving neighbourhood."
About Marlin Spring
Marlin Spring is a Toronto-based real estate investment firm which strategically acquires, develops, constructs and repositions residential assets throughout North America. Since 2013, Marlin Spring has seen substantial growth having acquired over 30 residential projects, consisting of 8,600 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 8 million square feet of residential GFA and an estimated completion value of over $4 billion, Marlin Spring has been one of the more active investors in both development and the multifamily residential sector. Marlin Spring has over 60 real estate professionals involved in all aspects of the acquisition, development, construction and asset management of its portfolio.
Forward-Looking Information
This News Release contains forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. Marlin Spring is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise.
For further information regarding Marlin Spring:
Rivki Mandelbaum, Director, Marlin Spring Corporate Strategy & Communication
E: rmandelbaum@marlinspring.com
T: 416.619.3550 x346
Or: David Eisenstadt, Fellow PRSA, CPRS, Partner, tcgpr (The Communications Group Inc.)
T: 416.696.9900 x36 C: 416-561-5751
Follow Marlin Spring on LinkedIn: https://www.linkedin.com/company/marlinspringinvestments