Two developers have teamed up to co-develop a massive mixed-use project slated for Toronto’s Brockton Village.
Hazelview Investments and Fitzrovia Real Estate announced in a press release that they would be the co-development managers of the master-planned Bloor & Dufferin development located at 1141 Bloor Street West and 980 Dufferin Street.
The project would see the creation of 2,100 residences, with a mix of rental and owner-occupied units. An eight-storey building with 56 units would be delivered to the City of Toronto exclusively as affordable rental housing, and a $17-million affordable housing trust would be put in place.
The existing historic Kent School on the site, which was founded in 1908, will house a 30,000-square-foot community hub and daycare centre. A below-grade pedestrian tunnel would provide direct connection from the development to the TTC Dufferin subway station. Bloor & Dufferin would also entail thousands of square feet worth of new office, retail and amenity space, including an Artists Commons that local creators can contribute to.
“We remain committed to the guiding principles set forth for this development, including creating a vibrant addition to the existing community that captures the incredible culture and spirit of Brockton Village,” said Adrian Rocca, CEO of Fitzrovia.
According to past reporting by UrbanToronto and updates to the Bloor & Dufferin website, Capital Developments and Metropia were initially selected to redevelop the site back in 2016, and presented their first concept for the project in 2017. The press release explained the developers led the site’s visioning and rezoning process, alongside Hazelview as a lead investor.
“We are honoured to be the stewards of this development especially in a neighbourhood with such a unique heritage,” said Hazelview’s executive director of real estate development Michael Williams.
“Capital Developments and Metropia have worked hard to set the stage through rezoning, and we remain steadfast in our commitment to working with the community as we turn this vision into reality,” he added.
Hazelview Investments is a global real estate investment company with an office in Toronto, and Fitzrovia Real Estate is a Greater Toronto Area rental developer and asset manager.
“As we started to think about a higher mix of rental versus condo, it became obvious that the project could benefit from Hazelview, as prime investor and a major rental developer and operator, playing a more substantial role in delivery,” said Capital Developments’ managing partner Jordan Dermer.
Todd Cowan, fellow managing partner of Capital Developments, stated in the press release that Hazelview and Fitzrovia will remain committed to delivering all of the public benefits “as promised” which includes more rentals, parkland and affordable housing.
