TAS has partnered with Tricon and an institutional investor to support revitalization efforts in downtown Toronto’s east side with a project at the corner of 7 Labatt Avenue and 77 River Street. A 1.3-acre site fully zoned for a ~560,000 square foot building, 7 Labatt will feature approximately 600 residential units, evenly split between rental and for-sale condominium units, two levels of commercial space and a new home for the Salvation Army facility.
7 Labatt is located immediately south of Regent Park, in close proximity to cultural, community and athletic amenities. Steps from Corktown, a cultural hub, the property is surrounded by restaurants, retail and historic landmarks. It offers convenient access to three downtown streetcar lines as well as the Don Valley Parkway. Construction is expected to commence in mid-2020 with completion anticipated in late 2023. The total equity commitment for the project is approximately $60 million (~C$80million), with 30 per cent from Tricon, 50 per cent from an institutional partner and 20 per cent from TAS.