Occupancy has begun at DBS Developments’ 35-storey, 404-unit tower at Bela Square, the first new purpose-built rental community in Toronto’s Main-Danforth area in more than 50 years.

The building at 100 Eastdale Ave. follows the completion in May 2024 of a seven-storey, 80-unit apartment at 94 Eastdale Ave. as part of Bela Square. That mid-rise building is 70 per cent occupied and DBS is hoping to have it leased up by September, while the lease-up target for the tower is May 2026.

“It's taken many years and obviously it's gone through a history of rezoning and redeveloping the site, and we're at the point now where we're very excited to have our first occupancy at 100 Eastdale,” DBS chief executive officer Bryan Levy told RENX in an interview that also included director of leasing Elizabeth Sharp.

Toronto-based DBS, which was established in 1967 by David Bela Salomon, has owned and managed the property — including older existing apartment buildings at 2 Secord Ave. and 90 Eastdale Ave. — for nearly three decades.

“We're really looking forward to welcoming more and more residents and building a community within Bela Square that not only integrates with the neighbourhood itself, but with the existing residents who have lived there for a number of years,” Sharp said.

What Bela Square offers

Bela Square units across the two buildings range in size from 463-square-foot one-bedrooms to 1,306-square-foot four-bedrooms. Monthly rents start at $2,125 for the smallest units and $4,100 for the largest apartments. 

“The city desperately needs this kind of development,” Levy explained. “What we're bringing at Bela Square is a price point that's attainable and sustainable and that hopefully our residents can enjoy for the long term.”

Units feature keyless entry, full-size stainless steel appliances, designer cabinetry, vinyl flooring, individually controlled heating and cooling systems, stacked laundry machines and flexible layouts.

Amenities include a fitness centre, a yoga studio, a total body resistance exercise room, a co-working lounge, a private dining lounge and a games room at 100 Eastdale and a fitness centre, a children’s playroom, a pet spa and a theatre room at 94 Eastdale.

There’s a common community park, outdoor pool, splash pad, garden and dog run, electric vehicle charging stations and a private street running through Bela Park.

Bela Square’s location, property management and intensification

Bela Square is about a 15-minute walk from the Toronto Transit Commission’s Main Street station and the Danforth GO Transit station. It’s also a two-minute walk to Taylor Creek Park and an eight-minute walk to Dentonia Park, while also offering easy access to urban amenities.

“We're focused on areas for our acquisitions and buildings in our pipeline that are focused on transit and areas that have not necessarily seen over-development,” Levy noted. 

DBS’ dedicated management teams at DBS Communities oversee all facets of property operations.

“We are all working towards ensuring that the community that we bring to life puts emphasis on our residents experiencing the life that they intend to live there, as well as the neighbourhood aspect,” Sharp said.

DBS has received approval to build a 41-storey tower south of 90 Eastdale and north of the city park that will complete the redevelopment of the block and replace 31 existing townhouses with replacement units in the new high-rise. Levy is unsure of when construction will start for this final stage of Bela Square.

Other DBS projects

DBS’ 2Fifteen — a 20-storey, 177-unit purpose-built rental apartment designed by Diamond Schmitt at 215 Lonsdale Rd. in Toronto’s Forest Hill Village — is approaching 90 per cent occupancy and lease-up is expected to be complete by the end of this spring.

Construction is up to the 24th floor of the 37-storey, 405-unit Metro Park condominium and townhome development on the southern part of a site at 25 St. Dennis Dr., just south of the intersection of Don Mills Road and Eglinton Avenue East. The units are all sold and completion is expected in late 2026.

Metro Park II will be a 12-storey purpose-built rental apartment on the northern part of the site. Construction is to begin this summer and is anticipated to be finished in late 2026.

DBS has plans for a 462-unit condo at Warden Avenue and Finch Avenue East, near Bridlewood Mall, in the Toronto suburb of Scarborough. Levy said sales will launch once the depressed condo market shows signs of bouncing back.

DBS, in partnership with Alterra and Platinum Vista, is going through the approvals process for a 69-storey, Arcadis-designed condo with 870 units at Bloor Street East and Sherbourne Street in midtown Toronto. 

The DBS development pipeline

“There are a number of other projects in the pipeline that we're evaluating in terms of launching for sale or building as purpose-built rentals,” Levy said, though there are no timelines available at this point.

Levy noted DBS also has other high-density residential development sites tied up in addition to what it already has in its land bank.

“The cost of construction remains a huge obstacle for all projects, whether they're downtown or in secondary markets in the City of Toronto,” Levy said, adding that tariffs imposed by the United States are adding another degree of uncertainty to development and have strong potential to significantly boost costs.

That will drive purchase prices for condos and rents for apartments up, which could bring the feasibility for new developments into question.