Urban Avenue Properties GP Inc. is a real estate development project focused on developing a boutique residential-commercial mixed-use property in the hyper urban corridor of Avenue Road in the Greater Toronto Area. The development group has years of experience and expertise in developing and upgrading institutional projects in Ontario.
The development team has proven expertise in sourcing, planning, financing and developing complex real estate projects. The construction expert in Urban Avenue GP has played key roles in some of southern Ontario's most challenging projects, with project values exceeding $400 million. The finance lead in the development group has under-written commercial real estate deals aggregating over one billion dollars (CAD) over the last 16 years.
The Greater Toronto Area has one of the most robust economies and population growth rates in all of North America. The City of Toronto has done multiple studies and put forward plans to improve the density, livability and vibrancy of many urban corridors and major arterial streets in the city. One of these corridors is Avenue Road. The subject site under this investment offering is a corner property situated on Avenue Road - right across the LCBO and a Loblaws grocery store.
As per the Avenue Road study for the area, the property is currently zoned but needs to go through committee of adjustment/minor variance along with site plan approval and building permit process - construct a five-storey mixed use building consisting of basement yoga studio, main floor restaurant and condos/apartments above. A land assembly play is also in the works where neighbouring lots will be purchased and rezoned (committee of adjustment) as a single larger lot. This lot will then be either sold or redeveloped.