North Drive has joined Westdale Properties, Cameron Stephens Equity Capital and Originate Developments to develop 8 Rosehill, a 52-storey, 115-unit luxury residential condominium just southeast of Yonge Street and St. Clair Avenue East in Toronto.

The development site was originally assembled by Welltower — a publicly traded Toledo, Ohio-based company with a portfolio of more than 2,500 seniors and wellness housing communities across the United States, Canada and the United Kingdom — to build a 17-storey seniors residence.

The site was sold in 2023 to Westdale, Cameron Stephens and Originate, which sought rezoning for a 50-storey, 714-unit condo. 

Following the collapse of the conventional condo market, North Drive was invited in to the partnership earlier this year to take advantage of its experience and expertise after it was decided to go in a different direction and create a building targeting upmarket end-users. 

Such condos have weathered the sales slump better than those with smaller units aimed at investors seeking to rent them out.

“We've taken on full responsibility for the day-to-day operations of the project,” North Drive co-founder Jordan Morassutti told RENX, adding that he couldn’t disclose the partners’ respective ownership stakes in the development. “They largely came to us as a function of our reputation and specialization in this asset class.” 

8 Rosehill’s suites and amenities

Residences at 8 Rosehill will range in size from 1,808 to 5,903 square feet. There will be a maximum of just three suites per floor and future residents will have the option to combine them into half- and full-floor residences. 

All suites will have a minimum of two bedrooms plus a den and have corner exposures to provide panoramic city views.

Amenities will include: a large fitness centre, including golf simulators; pickleball and padel courts; indoor and outdoor dining options; a club room; and an outdoor sculpture garden.

“This is the most substantial amenity package that we've ever been able to deliver in a North Drive project,” said Morassutti.

The development is North Drive’s sixth collaboration with Richard Wengle Architect Inc. Interiors will be designed by Trevor Wallace of Reflect Architecture.

Pricing, approvals and construction time

Prices for residences at 8 Rosehill will start at $1.95 million and average in the low to mid-$3-million range. Monthly condo fees are still being worked out but are expected to be just over a dollar per square foot, according to Morassutti.

“What's unique about this is that it fills a true void in the market,” said Morassutti. “It's a premier location with a really attractive product that we're proud to be able to deliver to market at an attainable price point.”

Morassutti pointed out that suites in North Drive’s One Roxborough West condo have an average price of just under $9 million, while they average just under $6 million at its 10 Prince Arthur and just under $5 million at its 2 Post Road projects.

“We have conceptual support for what we're bringing forward and we're working with City of Toronto planning to establish a strategy in terms of how we take the existing approval and massage it into what we’re pivoting to,” Morassutti explained about the approvals process for 8 Rosehill.

The partners have leased space just south of the development site where they’ll create a presentation centre. It’s hoped that sales for 8 Rosehill will launch early in 2027.

Construction is expected to take 40 months once it begins.

Other North Drive developments

North Drive’s 26-suite 10 Prince Arthur condo and townhouse development, near Bloor Street and Avenue Road in Toronto, was completed in July 2025 and has three units still unsold at a starting price of $5 million. 

The company has two other developments underway in the city.

Forming is up to the ninth floor of the 12-storey, 27-suite One Roxborough West condo located just north of the Rosedale subway station. More than 85 per cent of its units have been sold and first occupancy is expected a year from now.

Construction has begun at 2 Post Road, a five-storey, 61-unit condo just east of Bayview Avenue and north of Lawrence Avenue East. It has achieved just over 60 per cent of its projected revenues and completion is anticipated for a little over two years from now.

“We're incredibly picky when looking and disciplined when selecting new sites for development, so we're currently reviewing a few different opportunities, but nothing that we can discuss currently,” said Morassutti of North Drive’s acquisition pipeline.

8 Rosehill’s partners

Toronto-based North Drive was formed with the goal of creating boutique buildings in Toronto’s most established and exclusive neighbourhoods. Aside from those already mentioned, its other projects include One Forest Hill, 4 The Kingsway and 36 Birch.

Toronto-headquartered Westdale is a family-owned company that has owned, managed and developed real estate across Canada and the United States for 72 years. This includes nearly 48,000 residential units in Ontario, Quebec, Nova Scotia and 11 U.S. states as well as three million square feet of retail, office and industrial properties on both sides of the border.

Westdale has almost 1,500 employees and is involved in several residential developments across North America, including projects in Toronto, Ottawa, Halifax, Kitchener, Ont. and Dallas, Texas. 

North York, Ont.-based Originate is an infill development firm that reimagines underutilized space to create residential properties. It partnered with Harlo Capital to complete the Six99 condo at 699 Sheppard Ave. E. in North York while it has a number of other developments in the pre-construction phase in Toronto.

Toronto-headquartered Cameron Stephens Equity Capital was launched in 2020 as a complement to Cameron Stephens Mortgage Capital's lending business, providing equity capital to developer clients and strong risk-adjusted returns to investors. It has $78.5 million of committed equity capital across 2,116 residential units and 1.77 million square feet under development.