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Stockyards District Residences in Toronto. (Rendering courtesy Marlin Spring)
Stockyards District Residences will further transform a changing Toronto neighbourhood that has its working-class roots in the meat packing industry.
“Marlin Spring is proud to contribute to the ongoing renaissance of Stockyards,” said Marlin Spring vice-president of land development and acquisitions Pedro Lopes at the Aug. 13 groundbreaking of the project being built in partnership with Greybrook Realty Partners.
“This is infill housing at its finest.”
The Graziani + Corazza Architects-designed 10-storey building at 2306 St. Clair Ave. W. will have 236 units, including 24 three-bedroom suites. NAK Design Strategies is the landscape architect and U31 is the interior designer.
“The building architecture is informed by the industrial heritage of the neighbourhood and, as a result, many of the suites offer unique floor plans so many buyers will live in a true custom suite,” Marlin Spring chief executive officer Ben Bakst told RENX.
Stockyards District Residences will include “lifestyle-centric” retail at grade fronting St. Clair. Amenities will include: executive concierge service; a party room with a floor-to-ceiling, double-sided fireplace; fire pits; a kitchen preparation and barbecue station; a dog run; a children’s play area; and a fully equipped fitness and yoga room.
Strong sales for Stockyards District Residences
With Milborne Group acting as the sales agency, and a sales centre at 2283 St. Clair Ave. W., Stockyards District Residences essentially sold out in less than six months. Suites range in price from the mid-$400,000s to more than $1.4 million.
Parking costs add an extra $50,000 and additional storage space is $6,000.
Stockyards District Residences is projected to be completed in November 2021.
In addition to the building itself, purchasers were likely attracted to all of the big-box and more boutique-style retail that’s sprung up in the neighbourhood in recent years, along with craft breweries and restaurants.
The area west of Keele Street and just north of The Junction also has parks, schools, easy access to public transit, and a good Walk Score, which is attracting the interest of residential developers.
Further development in Stockyards area
Marlin Spring has another property a few doors west of Stockyards District Residences that’s in the planning stages.
“The Stockyards is a wonderful neighborhood and we have continued interest for opportunities in this area,” said Bakst.
Ward 5 York South-Weston councillor Frances Nunziata, a longtime local politician who’s lived in the area since 1963, said much of St. Clair West near Keele has been rezoned to accommodate retail and residential development and a number of development applications are under consideration.
“There’s an interest now to redevelop this area. Unfortunately, the planning staff is a little bit slow and we’ve got to push them. But, we’re beginning to realize that there’s so much potential in this area.”
Nunziata said the Stockyards District Residences site was formerly occupied by New York Pork. Neighbouring residents used to complain about pigs wandering on to their lawns until the business was destroyed in a fire more than a decade ago.
The lot has been empty since then and was purchased by Marlin Spring and Greybrook for an undisclosed price in 2017.
“I can’t wait until this building is built, and I’m hoping that we can get more development along St. Clair and this area where we have vacant employment lands that I believe we should rezone to residential,” said Nunziata.
Groundbreaking for Stockyard District Residences in Toronto on Aug. 13, 2019. (Steve McLean RENX)
Marlin Spring and Greybrook
Marlin Spring has acquired more than 30 residential projects and more than 8,500 units in various stages of development, construction and repositioning across Canada and the United States.
The Toronto-based firm’s portfolio totals more than eight million square feet of residential density with an estimated completion value of more than $4 billion.
Greybrook is a Toronto-based asset management firm that invests in real estate development and value-add assets. The firm and its affiliates have invested in more than 70 projects across Canada and the U.S.
Its portfolio is expected to result in the development of more than 35 million square feet of residential and commercial density with an estimated completion value of $15 billion.
“Stockyards District is one of many projects that Greybrook and Marlin Spring are partnered on, and it’s a great example of our collaborative partnership and strong execution abilities,” Greybrook CEO Sasha Cucuz told RENX.
“We are partnered on more than a dozen projects that include low-rise developments in the GTA, high-rise developments in Toronto, and assets we have acquired to reposition as part of our value-add portfolio in Houston, Texas, Montreal, Quebec and Ottawa-Gatineau.”
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