CreateTO entered into two ground leases in connection with the redevelopment of municipally owned lands at 50 Wilson Heights Boulevard in Toronto. The transactions support a multi-phase residential development being undertaken by Greenwin, Tridel and KingSett Capital, which broke ground in November 2024.
The project will deliver 1,484 residential units across four towers, comprising a mix of condominium and purpose built rental housing, including a substantial affordable housing component. The development prioritizes mixed income housing near transit and incorporates sustainable building practices, including geothermal energy systems, contributing to Toronto’s housing supply, affordability objectives and broader climate goals. Given its scale and complexity, the project represents one of the most significant residential developments currently underway in Toronto.
Fasken advised CreateTO, with a team comprised of Allyson Roy and Samita Smith, on the structuring and negotiation of the long term ground leases and related agreements in connection with the project.
Jurisdiction
- Ontario
