ELM And Fiera Break Ground At 270 Sheppard West

ELM Developments and Fiera Real Estate acquired the assembly at 270 Sheppard Avenue West on January 29. They broke ground on June 17.

In a market where rental projects routinely spend years in rezoning, moving from purchase to shovels in under five months is the point — and at 270 Sheppard, they planned it that way.

The building will rise nine storeys with 205 rental suites, steps from Sheppard–Yonge Station, the interchange of Lines 1 and 4 and the fourth-busiest stop on Toronto’s subway. ELM and Fiera Real Estate are building it as a joint venture, with Fiera as the institutional equity partner. The speed traces to a single decision: ELM kept the site’s existing nine-storey zoning rather than chase a bigger one. A taller building would have meant rezoning, a public hearing, and a likely trip to the Ontario Land Tribunal—the route that swallows years, and the one plenty of worthwhile projects have no choice but to take. Instead, ELM redrew the approved “wedding-cake” design into an efficient mid-rise and cleared it through a minor variance, which added roughly 15% more suites and won City support in months, not years.

That left only the work that moves on a schedule. Demolition permits for all six houses on the site came through on June 4. The building permit was filed and accepted the same week. Shoring begins in mid-July.

ELM Developments

The suites are built for families — the part of the market Toronto has built least of. Roughly two-thirds of the 205 units are two- and three-bedroom homes, including 15 with three bedrooms—the family-sized space that has been hardest for Toronto renters to find, because the industry has long built the studios and one-bedrooms that were quicker to finance. The timing matters: national housing starts fell again in 2025 to their lowest level since 2009, according to CMHC, and because a building takes years to reach occupancy, today’s shortfall becomes tomorrow’s shortage. Every family-sized suite that starts now is one that exists when the gap is widest.

“Families are renting by choice and by necessity, and the market hasn’t kept up," said Elliot Steiner, CEO and President, ELM Developments. "We move fast when a site is de-risked. The faster we build, the sooner those homes exist."

Fiera Real Estate, the institutional equity partner in the venture, backed the project on the strength of its fundamentals — and its developer.

"We’re putting institutional capital into transit-anchored rental because the demand is durable and the supply isn’t keeping pace," said Henryk Gelbert, Managing Director, Real Estate Financing, Fiera Real Estate. "270 Sheppard is precisely that case—the right location, the right unit mix, and a partner that can deliver it.”

ELM Developments

ELM Forward, ELM’s in-house construction and development management arm, is the builder, keeping development, construction, and asset management under one roof. Heating and cooling will run on a geothermal system, lowering the building’s emissions and tenants’ utility bills. Parking sits primarily underground, with about 6,500 square feet of street-level retail framed for a café and a specialty grocer. The amenities run to a fitness room, co-working space, a pet wash, and a rooftop terrace with a barbecue and lounge; the building is designed to the Toronto Green Standard and is targeting Fitwel Level 2 certification. A short walk away, Earl Bales Park offers 127 acres of trails, gardens, and an outdoor amphitheatre.

The architect is Studio JCI. First residents are expected to move in during late 2028.

ELM Developments

ELM Developments is a vertically integrated, family-owned developer of purpose-built rental housing across the Greater Toronto Area. With more than 30 years of experience across development, construction, and asset management, ELM and its construction arm, ELM Forward, carry projects from land acquisition through leasing and long-term ownership.

Fiera Real Estate is a leading global real estate investment manager and a wholly owned subsidiary of Fiera Capital. The firm manages more than C$8.2 billion in commercial real estate through a range of funds and accounts, supported by a team of more than 100 across offices in North America, Europe, and Asia.

Leasing inquiries: leasing@elmdevelopments.com.

More at elmdevelopments.com and fierarealestate.ca.

______________________________________________________________________________________________________________________________

This article was produced in partnership with SiteMedia Content Studio.

Renting

ELM And Fiera Break Ground At 270 Sheppard West

​In a market where rental projects routinely spend years in rezoning, moving from purchase to shovels in under five months is the point.

Trending

You may also like

​There's more happening in the rental market than just rents dropping and vacancies rising.

​Starting October 1, 2026, every brokerage in the province will have to attest to and submit an annual financial filing to RECO.

​Activity rose across most of the country but leaned heavily on Ontario, and the national average price climbed back above $700,000 for the first time in 23 months.

Here's what industry insiders should know about recent changes to Ontario's new home warranty program — and how you can play a role.

​A rezoning application for 6645, 6659, 6675, 6691, and 6707 Dow Avenue in Burnaby was submitted a few years ago, but Peterson is now revising the plan.

​If built as proposed, Toronto Rail Yards would generate significant economic activity: project materials estimate up to 4,600 construction jobs and approximately $1.5 billion in labour income over the course of development.

​The subject site of the rezoning application is 259-293 E 11th Ave and 216 Kingsway, which includes Coast Mental Health's offices.

Middle East conflict, elevated oil prices, and persistent trade uncertainty cloud the near-term outlook.

​The Villages Planning Program proposes changes that would enable more low-rise housing and shops and services in 17 areas across the city.

​The property was listed at $19.8M — the highest ever recorded in Mont-Tremblant and the Laurentians through the QPAREB Centris database.

​Whether it becomes fill, restoration material, or even future building products, the muck excavated from today's transit projects is increasingly being treated as a resource with a second life of its own.

For a loft lover with a preference for a small-community feel, this address offers the best of both worlds.

​The eight-property, 5.3-million-sq.-ft portfolio spans Vancouver, Toronto, Calgary, and Ottawa.

​While the region may be in a buyer's market, the traditional waterfront listings with all the bells and whistles are still asking a pretty penny.

​Republic Developments and Harlo Capital listed the 26-acre site last year, but will now move forward with an investment from the Building Ontario Fund.

​"The path forward exists if governments are willing to act with seriousness and consistency. What remains uncertain, though, is whether the political will exists to follow it."

All rights reserved SiteMedia © 2026.

In a market where rental projects routinely spend years in rezoning, moving from purchase to shovels in under five months is the point.

There's more happening in the rental market than just rents dropping and vacancies rising.

Starting October 1, 2026, every brokerage in the province will have to attest to and submit an annual financial filing to RECO.

Activity rose across most of the country but leaned heavily on Ontario, and the national average price climbed back above $700,000 for the first time in 23 months.

A rezoning application for 6645, 6659, 6675, 6691, and 6707 Dow Avenue in Burnaby was submitted a few years ago, but Peterson is now revising the plan.

If built as proposed, Toronto Rail Yards would generate significant economic activity: project materials estimate up to 4,600 construction jobs and approximately $1.5 billion in labour income over the course of development.

The subject site of the rezoning application is 259-293 E 11th Ave and 216 Kingsway, which includes Coast Mental Health's offices.

The Villages Planning Program proposes changes that would enable more low-rise housing and shops and services in 17 areas across the city.

The property was listed at $19.8M — the highest ever recorded in Mont-Tremblant and the Laurentians through the QPAREB Centris database.

Whether it becomes fill, restoration material, or even future building products, the muck excavated from today's transit projects is increasingly being treated as a resource with a second life of its own.

The eight-property, 5.3-million-sq.-ft portfolio spans Vancouver, Toronto, Calgary, and Ottawa.

While the region may be in a buyer's market, the traditional waterfront listings with all the bells and whistles are still asking a pretty penny.

Republic Developments and Harlo Capital listed the 26-acre site last year, but will now move forward with an investment from the Building Ontario Fund.

"The path forward exists if governments are willing to act with seriousness and consistency. What remains uncertain, though, is whether the political will exists to follow it."