At Bathurst and St. Clair, Canderel has officially started construction on Forêt Forest Hill — its three-tower, master-planned community in midtown Toronto.
The development has secured construction financing from a consortium of five major Canadian banks led by CIBC, with National Bank, TD, Desjardins, and Laurentian Bank rounding out the group.
The groundbreaking was held June 18, 2026, at a moment when many planned condo projects across the city are stalled.
"Advancing an ownership project of this scale and complexity into construction is a testament to Canderel's track record and our ability to execute through all market cycles," said Ben Rogowski, President and Chief Investment Officer at Canderel.
Chairman Jonathan Wener drew a comparison to Aura at College Park, another Canderel project that moved into construction in the wake of the 2008 recession — backed, at the time, by a ten-bank financing consortium.
"While today's environment presents a different set of challenges, Forêt reflects a similar achievement: moving a major project forward with the confidence of leading Canadian financial institutions at a time when the industry is facing significant headwinds," Wener said.
The site at Bathurst and St. Clair — long vacant — sits steps from St. Clair West Station and the St. Clair streetcar. The approved plan calls for three residential towers of 35, 37, and 41 storeys, totalling approximately 1,310 suites. The project team includes BDP Quadrangle on architecture, II BY IV Design on interiors, and Site/C for landscape.
Beyond the residential units, the redevelopment will deliver a new public park, a childcare centre, community space, and new retail at grade. Geothermal infrastructure — for heating and cooling — was dug last year.
Amenities are expected to span some 50,000 sq. ft of indoor and outdoor space, including a two-storey fitness centre, indoor and outdoor pools, sauna, steam rooms, a juice bar, children's recreation spaces, a pet spa, private dining, and a wine lounge.
The eastern tower's top nine floors are being positioned as boutique suites — private lobby, private elevator, dedicated amenity spaces, ultra-high-end finishes. Typical suites in that section will reach up to 2,000 sq. ft, with the option to combine units.
Sales for Forêt are led by RAD. "Overall," said RAD President Riz Dhanji, "in today's market we are seeing buyers gravitate to well-designed and well-located projects with highly reputable developers."
