Stafford and DBS Developments have announced the companies will partner on a 524-unit purpose-built-rental (PBR) apartment project in Toronto's Yonge and Sheppard neighbourhood.

The plan for 11-21 Johnston Ave. is to be the first collaboration of a new longer-term partnership between the two Toronto-area residential development companies.

"Stafford is incredibly excited to be partnering with DBS Developments at this opportune time to build this amazing new community on Johnston Avenue," Stafford president Jonathan Goldman said in the announcement. "Yonge and Sheppard is one of the most underserved rental nodes in the city which paired with the strong rental demand in this area makes this the exact type of development the city needs.

"Our collaboration with DBS brings together our complementary development and construction expertise, alongside DBS' vast experience with owning and managing some of the most beloved rental residences across the city."

The site sits approximately 130 metres from the nearest entrance to Sheppard-Yonge Station, a short walk to both the Yonge-University and Sheppard subway lines. With a Walk Score of 98, it sits within one of the city's most consistently in-demand rental markets, anchored by its proximity to a major employment and transit hub.

The announcement outlines that, based on the development application of earlier this year, the project proposes 524 rental units, totalling approximately 350,709 square feet of residential space, across a multi-property assembly, designed by Turner Fleischer Architects with planning guidance from Goldberg Planning Group.

Site close to many amenities, highway access

The site offers access to Highway 401 and to the neighbourhood's extensive amenities off Yonge Street, including grocery stores, shopping, restaurants, performing arts venues, movie theatres and everyday services. "Residents will also be moments from Mel Lastman Square, home to premier festivals and community events, as well as a popular outdoor public gathering space and seasonal skating rink," the announcement said.

DBS Developments said the partnership represents a natural extension of its commitment to delivering residential communities such as Bela Square in East Danforth and 2Fifteen in Forest Hill. "Rooted in a hospitality-influenced approach to property management that prioritizes curated resident experiences, quality materials, and long-term community building, DBS will bring that philosophy to Johnston Avenue from the design stage through to day-to-day operations under its DBS Communities platform," the announcement states.

"We are thrilled to be partnering with Stafford on what will become a landmark purpose-built rental community for this neighbourhood and for the city," DBS Developments CEO Bryan Levy said in the announcement. 

"Stafford has built an exceptional reputation for delivering thoughtful, beautifully executed projects across Toronto, and there is a strong natural alignment between our organizations in how we approach development, construction, and the resident experience.

"As demand for professionally managed rental housing continues to grow, it is increasingly important for experienced developers and operators to deliver projects that are built for the long term. Together, we're excited to bring a world-class rental community to one of Toronto's most connected neighbourhoods, where demand for high-quality rental housing remains strong."

"We love this city, we believe in this opportunity, and we are proud to have the vision and the courage to act on both," Goldman said in the announcement.

About Stafford and DBS

Stafford has over 60 years of experience delivering residential communities across the GTA with a vertically integrated platform encompassing development, construction management and long-term investment.

DBS Developments is a family-founded and fully-integrated development company with over six decades of history across the GTA. DBS brings expertise in project design, construction, and the long-term operation of residential communities, including a growing portfolio of newly built, class-A purpose-built rental buildings, through its DBS Communities management platform.