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Stanley Greene

Key Information

Client

Stanley Greene


Location

Toronto, ON

Topline

Located in the Downsview Park Secondary Plan, the site featured draft plan approval for 225 townhouse units.

Date

March 2016

Type

Residential

Size

12.27 AC

Sold for

$32,000,000

Subject Property


Stanley Greene is a large neighbourhood on the west side of Downsview Park along Keele Street in North York. This community was designated for development as part of the Downsview Park Secondary Plan, which aimed to master plan a number of communities in and around Downsview Park as part of the redevelopment and intensification of this area. The 12.27-acre block was draft plan approved for 225 townhouse units with a mix of traditional townhomes and stacked townhomes. Included in these 225 units was a requirement for 23 affordable housing units.

Our Role


Our team was retained on behalf of the Canada Lands Company (“CLC”) on an exclusive basis to manage the sale process for this well located residential development property. We tailored a marketing program based on the requirements of CLC that highlighted the most attractive features of the site. We marketed the property unpriced and had an offer submission date for bids.

Outcome


In 4 months we were awarded the listing, brought the property to market, completed negotiations and due diligence, and closed the transaction. We received 8 bids on the property from prominent Toronto developers. Our team of experts worked with CLC, provided recommendations and assisted in completing the transaction with the Goldman Group and Stafford Homes who purchased the site for $32 Million. The Goldman Group and Stafford Homes began sales of their Downsview Park City Towns project in late 2016 with occupancy expected in 2020.

 

Stanley Greene

Contact

Mike Czestochowski
Mike Czestochowski*
Executive Vice President, Land Services Group
Advisory & Transaction
*Broker
+1 416 495 6257
Lauren White
Lauren White*
Senior Vice President, Land Services Group
Advisory & Transaction
*Sales Representative
+1 416 495 6223