A geotechnical survey is a field investigation and analysis of soil, rock, groundwater, and other subsurface conditions on a site to assess its suitability for construction.
Why Geotechnical Surveys Matter in Real Estate
In Canadian real estate development and construction, geotechnical surveys identify potential risks and inform the design of foundations, retaining walls, and drainage systems.
Key elements:
Soil bearing capacity and composition
Groundwater table levels
Slope stability and erosion risks
Presence of contaminants or problematic soils
A geotechnical survey is often required before issuing building permits for new construction or significant redevelopments.
Example of a Geotechnical Survey in Action
The developer commissioned a geotechnical survey to ensure the soil could support the planned high-rise building.
Key Takeaways
Evaluates subsurface conditions before construction
Net operating income (NOI) is the total income generated by a property after operating expenses are deducted but before taxes and financing costs.. more
A new 37-storey purpose-built rental tower could join an existing 29-storey apartment building in Toronto's South Eglinton-Davisville neighbourhood that would provide 400 new rental units within walking distance of higher-order transit.
The rental building currently occupying the site is operated by Brookfield Properties and plans were filed by Goldberg Group on behalf of 77 Davisville Nominee Inc. in late July. Plans support a Zoning Bylaw Amendment application to allow for the increased height of the proposed infill development.
Located at 77 Davisville Avenue, the nearly two-acre site sits just east of the Yonge Street and Davisville intersection in Midtown. Nearby are a number of existing schools, amenities, and retail options as well as access to Davisville Station on Line 1, which is located roughly a five-minute walk from the proposed development. The site is located within the Davisville Protected Major Transit Station Area and also has access to a number of surface transit routes providing north-south and east-west travel.
Surrounding the development site are a number of proposed and constructed buildings with a range of heights, which generally get taller the closer they are to Yonge Street. Directly north of the site are number of single-family homes and a public school, but the site is flanked on the east and west by a 15-, 22- and 30-storey apartment complex and a 21 Storey apartment building, respectively. Proposed developments push heights even higher, with submissions including an approved 40-storey mixed-use building at 22 Balliol Street and two approved mixed-use buildings with 48 and 53 storeys at 1910, 1920, and 1944 Yonge Street.
At 77 Davisville, the existing 29-storey building would remain in the east portion of the site, while the proposed development would occupy the western portion. The building, which is designed by CORE Architects, would feature a five-storey podium that would rise to 13 storeys towards the south end of the building, and a 32-storey tower element.
77 Davisville/CORE Architects
Inside you'd find the residential lobby, with access from Davisville Avenue, and an indoor amenity space towards the rear that would connect with an outdoor amenity space at grade. The outdoor space on the ground level would also connect to a larger 3,218-sq. -ft parkland dedication on the southwest corner of the site. Additional indoor/outdoor amenity spaces would be found on level five for a total amenity area of 8,331 sq. ft.
According to the plans, "It is contemplated that the programming of the amenity areas will cater to a wide variety of users and activities, including potential for dedicated children’s play, work from home areas, as well as both passive and active use spaces."
As for the 400 rental units planned, they would be divided into 49 bachelor units, 154 one-bedroom units, 59 one-bedroom plus den units, 74 two-bedroom units, 25 two-bedroom plus den units, and 39 three-bedroom units. Available to these tenants would be 61 parking spaces across three underground levels and 440 bicycle parking spaces in the mezzanine level. Notably, the proposal discusses replacing the existing portion of the underground parking lot and joining it with the new levels under the proposed development for a total of 383 parking spaces.
If approved and completed, 77 Davisville would make efficient use of an already developed site, bringing hundreds of much-needed rental units to a well-established neighbourhood and within close proximity to both higher-order and surface level transit options.
Few waterfront properties manage to balance architectural elegance with the rugged beauty of British Columbia’s coastline quite like 6154 Gleneagles Drive.
Built by the highly regarded Goldwood Homes, this French château-inspired estate offers an opulent-yet-inviting retreat in West Vancouver — one that captures the best of coastal living without compromising on fine design.
Tucked alongside a private park and sandy shoreline, the home’s setting is the stuff of West Coast daydreams.
Beyond its commanding stone façade, an airy open-plan layout connects bright and refined living spaces, anchored by a grand foyer that immediately establishes the home’s scale and presence.
From here, the flow extends into a chef’s kitchen — a polished yet practical hub with high-end finishes — and through to a sequence of vaulted and terrace-framed gathering spaces designed to capture the shifting light off the bay.
Upstairs, the private quarters are anchored by a serene primary suite, complete with its own bluestone terrace — a front-row seat to the ebb and flow of the tides.
The bluestone terrace off the primary suite has stolen our hearts.
Elevated above the shoreline, this space serves as a private perch where morning coffee comes with sweeping ocean views and evening sunsets feel like a personal show.
This home's lower level is equally considered, offering a wine cellar, steam room, media and games space, and guest accommodations for visitors who may never want to leave.
Meanwhile, outdoors, patios and covered terraces lead to a poolside setting that is as tranquil in winter as it is lively in summer.
With its refined European styling, generous proportions, and a setting that is quintessentially West Vancouver, this is truly a one-of-a-kind home that makes every day feel like a holiday on the French coast.
Vancouver Centre at 650 West Georgia Street, managed by GWL Realty Advisors
This article was written and submitted by Wendy Waters, VP of Research Services & Strategy at GWL Realty Advisors.
Numerous employers — especially Canada’s big banks — have announced workplace policies to have their employees in the office four or five days per week. For many, it will be the first time for full attendance most days since COVID-19 sent everyone home in March 2020.
Some are facing a space availability shock. Employers do not have enough office space to accommodate a return to office policy. Over the past five years office-oriented employment has expanded by 695,000 jobs or 25% in Canada. Conversely, leased office space has declined by over 21 million feet across Canada’s or 5%.
A rebound in office demand is underway. As The Globe and Mail recently reported, even with only partial return-to-office mandates, employees at Canada’s largest banks are already being squeezed into shared meeting rooms and cafeterias rather than having proper workstations. Some are forced to arrive by 7AM to secure a desk. The banks need more space. So do other office-intensive sectors including engineering companies, accounting and legal firms, and the technology sector.
Pre-COVID-19 and recently, two factors (besides remote working) were driving a reduction in space requirements per employee and allowing larger employers to reduce their total office footprint: the digital revolution and, for some, increased use of agile seating.Working from WIFI-connected laptops and smart phones is more compact than accommodating desktops with large clunky cube-shaped monitors and land lines. Digital document storage means many fewer filing cabinets. These factors combined to allow for less space usage per person (or per person plus their technology and paper). However, this consolidation based on technological innovation is largely complete. More office workers means office tenants now, or soon will, need more space.
1 Adelaide Street/GWL Realty Advisors
Digital working also enabled greater use of agile or unassigned seating. The theory was that at any given time anywhere from 20-50% of desks were unoccupied (even pre-COVID). The assigned worker might be in a meeting room, on vacation, sick, or with clients.Therefore, the logic went, employees could share desks as people would not all need individual desks at the same time.
Some larger office users looking to shave costs from their balance sheets often seized on space efficiencies enable by having fewer desks than people. But skimping on office space may be more costly overall.For most employers labour represents approximately 80-85% of company expenses. Office space is usually less than 5% of costs (technology, travel, various supplies represent the remainder.) Saving a few dollars on office space but making your talent less efficient by forcing them to work off their laps, struggle to find colleagues, and/or get frustrated and quit hardly seems like a successful business strategy. This is a reason some office users seek more space.
Having insufficient desks can increase workplace stress and undermine productivity. People waste time in complex booking systems or fighting over workstations. Not everyone can effectively work in the cafeteria or coffee room; those who work with big spreadsheets or complex architectural drawings need big screens. Without appropriate workplaces these individuals cannot be productive.Design consultancy Gensler’s research has shown that more workspaces than people is an essential feature of an effective, enjoyable workplace, whether desks are assigned or not.People need access to the right space at the right time. This means more office space will be required for many tenants.
Interior rendering of GWL's head office at 33 Yonge Street/GWL Realty Advisors
But even when there are ample seats, hotdesking still presents challenges. Unassigned seats can make it challenging for team members to find each other and collaborate. If a group of colleagues cannot sit near each other, or find each other, it is harder to have those quick check-ins and collaboration moments. Additionally, many employees feel devalued by not having their own workspace. Indeed, Gensler’s research suggests use of agile seating is not growing. We anticipate partial or full reversals from some current proponents of the style, which for some organizations will require leasing more office space.
The office building and asset class has once again proven resilient. Following every major technological breakthrough of the past 70+ years, some have argued that the office building was no longer needed.Telephones (land lines) became widespread in the 1950s and 1960s and could keep us connected from remote locations. Then it was the rise of the PC in the 1980s allowing more work to be done away from mainframes. The 1990s brought mobile phones — albeit big clunky ones — and email via dial-up modems. And then came high speed home internet. After each of these breakthroughs, discussions of remote work displacing office work grew. Video conferencing — the 2020s innovation--provided a new tool for connecting people unable to be in the room. However, time has proven video conferencing does not fully replace the value of in-person connections.
Humans are social creatures. Being at the office does more than generate measurable productivity such as filling out spreadsheets. Working together helps people to build relationships that enable collaboration, or the sharing of knowledge and those serendipity moments when one person’s experience can enable another’s innovation.
To summarize, office demand is returning. Daily, the news media announces yet another large employer mandating employees back to work four or five days. People working from home enabled many larger employers to add people but shrink their office footprint. With more companies seeing the benefits of having their workforce together most of the time, they now need enough space for all their employees. 2026 is shaping up to be the rebound year for office.
Canada Mortgage and Housing Corporation (CMHC) released new housing starts data this week, and, on the surface, there was something of a rosy tone. The government agency reported that the seasonally-adjusted annual rate (SAAR) of housing starts edged up 4% in July to 294,085 units, marking the highest level of starts since September 2022.
That would give you the impression that starts, defined as the moment the foundation on a new build has been poured, are on a good trajectory, however, it’s more indicative of development intention from the past. As stated by CMHC’s Deputy Chief Economist Tania Bourassa-Ochoa in a press release from Monday, the “persistently elevated national results are reflective of investment decisions made months or even years ago, highlighting the influence of previous market conditions and builder sentiment on current construction trends.”
Meanwhile, a new report released Wednesday by economists at RBC further points out that while starts are up nationally, construction in the country's most populated province is sorely down.
CMHC, Statistics Canada, RBC Economics
“Ontario stands out with a steep decline since mid-2024, particularly in the Greater Toronto Area. British Columbia has also seen a moderation, but to a much lower extent,” writes RBC Assistant Chief Economist Robert Hogue. “This divergence is concerning, because it threatens to perpetuate severe affordability problems that exert social and economic hardship on Canadians in these regions.”
“While homebuilders and municipalities are keen to respond, factors like the high development and building costs in Ontario, and substantial inventory are weighing on the initiation of new projects. This raises concern about whether future housing stock can meet demand,” Hogue goes on to say.
According to CMHC’s data, Ontario saw 62,700 starts in July, compared to 77,900 the same month last year, representing a massive 24% drop. “Ontario’s six-month average has fallen to the lowest level in a decade — trending in the opposite direction of what’s needed to achieve the provincial government’s ambitious goal of building 1.5 million new homes over 10 years,” says Hogue. “It’s a similar, albeit less pronounced, situation in BC.”
Statistics Canada, RBC Economics
Alberta and Atlantic Canada are experiencing all-time highs in residential construction, the report posits, so what’s holding back starts in Ontario?
“High development and construction costs are major barriers. Builders saw a rapid escalation of expenses for land, labour, and materials, compounded by municipal development charges and other fees in the past several years,” writes Hogue. “These costs make it exceedingly difficult to bring new housing projects to market at prices prospective buyers can afford, particularly in the expensive GTA.”
Beyond that, Hogue underscores that the supply overload in Ontario, which makes new inventory less attractive than resale, is due to the lower price-point and high availability of the latter. “Meanwhile, investor interest in pre-construction condos — a key driver of housing starts in the GTA — has nearly collapsed,” he adds. “The Bank of Canada’s earlier interest rate hikes, a cooling rental market and declining condo prices have deterred investors, leading to a sharp drop in pre-construction condo sales. Without investor confidence, many projects are unable to get off the ground, further stalling new construction.”
Canadian Real Estate Association, RBC Economics
On top of all of that, Ontario municipalities like Toronto are “issuing more building permits than builders are acting on,” which points to a “major bottleneck” in costs, says the report. Hogue specifically points to development charges, which oftentimes prevent projects from pencilling out.
“The full impact of the current slowdown in housing starts won’t be felt for years in Ontario. It can take two, three or more years to complete a large multi-unit project once the foundation has been poured,” he adds. “Indeed, the GTA market is still absorbing the wave of condo units completed in 2024 started during the pandemic or even earlier. Units currently under construction (more than 93,000 units as of July) are just 11% off from all-time highs in the region, which suggests completions are likely to stay relatively plentiful (albeit diminishing) in the near term.”
CMHC, Statistics Canada, RBC Economics
Hogue underscores that Ontario’s housing construction pipeline, if not addressed, will taper out by 2026. “Any material drop in completions causing a slowdown in the housing stock’s expansion would make it that much harder to close the province’s housing supply gap,” he adds. “It could increase the shortfall and aggravate the affordability crisis if it coincides with a rebound in population growth once Canada’s immigration policy is readjusted.”
This is a topic that has been discussed at length by industry stakeholders, and some are calling the impending reality a “construction cliff.” Even more troubling is the fact that industry leaders were calling for the “cliff” to materialize by 2027 or 2028, but economists with RBC are forecasting it to happen even sooner.
A report released Wednesday finds that the GTA is on track to amass a roughly 235,000-unit deficit in purpose-built rental (PBR) housing supply over the next 10 years, made up of the current and projected shortfall in units. Using comparative pro forma analysis, the report also shows how far targeted policy changes can go towards making projects more viable moving forward.
The report was assembled by the Building Industry and Land Development Association (BILD) in conjunction with real estate consulting firm Urbanation and cost consulting company Finnegan Marshall, and it shares sobering insights into current PBR housing needs in the GTA, how project feasibility has changed since 2022, and policy changes they say need to be implemented by all three levels of government in order to meet housing needs over the next decade.
Titled The Pathway For Rental Housing Stock, the report builds upon a previous study released in February 2023 by providing updated information and outlooks following a number of policy and market changes that have impacted PBR development in the region.
Decoding The Current Market
A whitepaper prepared by Urbanation provides an updated view of the GTA's PBR market as well as rental needs and the forces that are shaping those needs. The report highlights that the GTA saw a significant rise in rental demand over the past two years as the population surged by 550,000 people over 2023 and 2024. This historic demand was met by an historic wave of new purpose-built and condo rental completions that saw nearly 35,000 units added over the course of 2024 — more than double the 10-year average.
Since the Feds lowered immigration targets in October 2024, the region has started to see the flow of permanent and temporary residents dwindle, bringing down rents as completions continue to arrive in record numbers. But while the GTA population is expected to grow by 726,884 residents over the next 10 years — 38% less than the previous 10 years (1,177,497 residents) — plummeting condo completions and slowing PBR growth will also "substantially" pull down supply.
For context, the current downturn in condo presales has contributed to a 50% year-over-year drop in condo starts between 2023 and 2024, when it hit a 25-year low of 8,792 units. Meanwhile, despite rising 7% in 2024 to 6,637 units, PBR starts remain below the recent 2021 high of 7,061 units. Looking ahead, condo and PBR completions combined are expected to total 38,528 units in 2025, before moderating to 22,860 and 24,065 units in 2026 and 2027, respectively. Then by 2028, completions will fall to a 20-year low of 13,076 units.
But with investors fleeing the condo market, the report says PBRs will be expected to fill the rental gap by delivering 16,000 to 19,000 rental units per year for the next ten years — something it is not currently on track to do, due in part to red tape at various levels of government. More on that later.
"While the GTA could previously rely on condo investors to supply the market with the majority of new rental units, the downturn in new condo market activity underway suggests that won't be the case going forward and there will be a greater need for PBR construction. However, relative to the other large markets in Canada, the GTA ranks lowest in terms of per capita for rental construction," reads the report.
On top of falling construction, declining homeownership rates are exacerbating the looming supply deficit as more would-be-homeowners turn instead to renting. According to Urbanation, the GTA's homeownership rate fell from 68% in 2011 to 65% in 2021 and rates are expected to continue falling due to "ongoing, long-term ownership affordability challenges."
Considering projected population growth, falling homeownership rates, and dwindling supply, Urbanation estimates the GTA will have a rental deficit of 235,000 units in ten years, made up of 121,000 units needed in the future and the 114,000-unit deficit that grew between 2016 and 2024.
Feasibility Stronger Where DCs Are Lower
Pro formas, pro formas, pro formas. While PBR demand may be headed fora major increase and while developers may be eager to build these rental types, Urbanation highlights that current conditions just aren't conducive for development.
"The deterioration in economic feasibility for new development and often lengthly application timelines has left a large supply of units waiting in the pipeline," reads the report. "As of Q1 2025, the GTA had a total of 200,586 PBR units in the proposed stage that had not started construction. [...] This is in addition to hundreds of thousands of units in the planning stages proposed as condominium or have an undetermined tenure."
To help explain how these conditions hold development back, the second portion of the report consists of two April 2025 pro forma analyses from Finnegan Marshall for condo and PBR projects proposed in both downtown Toronto and Mississauga. According to the analysis, both municipalities saw feasibility for PBRs improve over the last two years thanks to federal, provincial, and municipal changes, such as the feds waiving HST on new PBRs in fall 2023, the matching of that incentive by the province, and the two cities implementing various incentives to spur development.
However, in Mississauga, where municipal incentives for development were more impactful, the analysis found that pro formas for both building types had improved by a greater amount than in Toronto. In January of this year, Mississauga voted to lower development charges (DCs) for residential projects by 50%, to eliminate the fees for three-bedroom PBR units, and to defer the collection of DCs until occupancy permits are issued for all residential developments.
For Toronto's part, the City has done things like freeze DCs at current rates and waive DCs for certain housing types like sixplexes, but the report says more needs to be done.
"The lack of support from the City of Toronto remains a key impediment. While the city has adopted some measures, they are time-bound and have very restricted eligibility," it reads. "The lack of broad-based relief in Toronto, where the need for more housing is notably the greatest, as evidenced by the pro formas in this document, means new PBR and condo remain non-viable."
According to the analysis, for a hypothetical 400-unit condo development in Mississauga, including year-one operating costs, the net revenue would now be $28,333,469. In Toronto, that same condo project would deliver just $11,478,175 in profits, making it unviable. For comparison, the profit on a 400-unit Toronto condo proposed in late-2022 would have been $39,772,225.
If the same development was proposed as a PBR in Toronto, the project would now cost $251,850,000 and the net annual cash flow would be $974,246. In Mississauga, where average rent is around $383 lower than Toronto, the cost would be a more affordable $226,715, while annual income would be $820,460.
Recommendations From BILD
In the final portion of the report, BILD lays out a to-do list of policy changes for the municipal, provincial, and federal governments aimed at spurring rental development.
At the municipal level, BILD recommends things like eliminating or lowering DCs for rental and mixed-use projects and lowering property tax rates for PBRs via Tax Increment Financing and the New Multi-Residential Subclass discount of 35% on property taxes. At the provincial level, they recommend unlocking existing DC reserves for ready-to-go projects, and federally, recommendations include expanding CMHC programs, lifting the foreign buyer ban, and establishing a housing task force that includes all three levels of government, among other suggestions.
BILD's SVP of Communications, Research & Stakeholder Relations, Justin Sherwood, emphasizes just how important it is that these recommendations be adopted in order to avoid a "tremendous economic hit," ensure housing is delivered, and keep the industry on two feet.
"The industry is facing massive amounts of layoffs. You're looking at starts dropping tremendously — somewhere in the order of magnitude of 60% in the GTA — and you're actually seeing the drying up of investment going into residential construction, whether it be for sale or for rent," Sherwood tells STOREYS, adding that the number one goal is to ensure people are housed. "[...] We need to be able to put roofs over heads. Population is going to continue to grow. Whether it's going to grow by 400,000 people a year in Canada or 500,000 people, it's still growing, right? That need is not going away."
But spurring housing, Sherwood points out, not only benefits developers but all three levels of government as well. "There's an economic benefit that the housing sector brings to the domestic economy," he says. "It's one of the largest sectors in the Canadian economy, it's one of the largest employers in the Canadian economy, and it sources about 90% of its raw materials domestically. If all of a sudden that starts declining, there's a tremendous negative impact to governments."
The large retail complex at the corner of Granville Street and Robson Street in July 2024. / Google Maps
After more than a year and a half on the market, the high-profile retail complex at the intersection of Granville Street and Robson Street in downtown Vancouver has been sold, STOREYS has learned, in what is the largest retail property transaction in British Columbia so far this year.
The retail complex is located at 798 Granville Street, at the northeast corner of Granville Street and Robson Street. For many years, the anchor tenants have been Best Buy and Winners. The Best Buy was formerly a Future Shop, while the Winners was relocated earlier this year and replaced with a Marshalls. Other retailers in the complex, located along Granville Street, include Café Crêpe, North Face, Vans, Claire's, and Sleep Country, among others.
The three-storey shopping complex, which spans roughly half of the block between Robson Street and W Georgia Street, was originally constructed in 2002 and houses over 90,000 sq. ft of leasable space, according to BC Assessment, which values the property at $111,691,000 in an assessment dated to July 1, 2024.
The property was listed for sale in late-2023, as first reported by STOREYS, by Martin Moriarty and Mario Negris of Marcus & Millchap alongside Jim Szabo, Tony Quattrin, and Vincent Minichiello of CBRE.
The 798 Granville Street property is owned by Bonnis Properties, which recently sold the property to GJ Group Robson Inc. for $140,000,000, in the latest example that the market for retail assets remains relatively active compared to other asset classes.
The sale price exceeds the previous top retail transaction of the year, which was Shato Holdings' acquisition of Willowbrook Park in Langley for $137,000,000 in February. Rounding out the top three for 2025 so far is Finix Holdings' acquisition of the Cottonwood Centre in Chilliwack for $115,000,000 in May.
Bonnis Properties
View of the 798 Granville Street retail complex from along Granville Street. / Google Maps
A longtime owner of numerous high-profile properties along Granville Street, Bonnis Properties has been actively selling or trying to sell many of its properties over the past two years.
Earlier this year, it sold the Hudson Mall directly east of the Hudson's Bay building for $89 million, as first reported by STOREYS in March. Prior to the sale, the Winners at 798 Granville Street was relocated to Hudson Mall.
Just prior to that, Bonnis Properties sold the Hollywood Theatre and Hollywood Residences in Kitsilano for a total of $47.5 million to Dayhu Group. Last year, Bonnis Properties sold the the large retail complex at 2211 W 4th Avenue for $100 million to Toronto-based Salthill Capital.
In 2023, prior to listing 798 Granville Street, Bonnis Properties sold 728-796 Main Street — a development site where they had proposed an 11-storey building with strata and social housing — for over $20 million to the Hogan's Alley Society. Bonnis had previously reached an agreement to sell the property to Epix Investments, but the transaction fell apart and Epix subsequently filed a civil suit over the deposit, with the Supreme Court ultimately ordering Bonnis to return the deposit. Also in 2023, Bonnis sold the multi-level commercial property at 535 Granville Street for $17.8 million to 1003333 BC Ltd.
Besides selling its properties, Bonnis has also been very active developing new projects, submitting rezoning applications for three major projects this year.
The most significant, of course, is its proposal for 800-876 Granville Street, where it has revised its proposal to two towers up to 43 storeys above the Commodore Ballroom. Over in East Vancouver, Bonnis is developing a 14-storey and 25-storey tower at 602-644 Kingsway and 603-617 E 16th Avenue. In the Broadway Plan area, Bonnis is then developing a 32-storey tower at 365-395 W Broadway, not far from City Hall.
Downtown Edmonton hosts thousands of post-secondary students, so to support their success as well as the revitalization of the downtown core, the City of Edmonton is introducing a new Downtown Student Housing Incentive program. It's the first program of its kind in Canada, according to the City.
"The Program has two main priorities: increasing downtown revitalization and off-campus student housing," said City staff in a Council report. "Projects will be prioritized for funding based on alignment with the program priorities and objectives, as well as how well projects meet the program criteria."
The Downtown Student Housing Incentive is a straightforward program that provides up to $30,000 per unit of student housing, although projects have to meet a set of eligibility criteria. The biggest requirement is that the project must be located within the City Centre node (red, in the map below), with preference given to projects within the City-defined priority area (yellow) of the downtown core (black outline).
Among other requirements, the construction cost of the project must exceed $10 million, it must provide between 10 and 150 student housing units, and the units must be reserved for students for at least 10 years. Projects will also ideally be designed for students and be provided at affordable rents (the full set of criteria can be found here).
The program priority area (yellow) within the downtown core (black outline) and the City Centre node (red). / City of Edmonton
If an application is deemed successful, the developer and the City of Edmonton will then enter into a funding agreement outling how grants are calculated and paid. Funding is limited and allocated by the CMHC to the City of Edmonton, which will then disperse the funds on a four-installment basis: 30% upon development permit issuance, 30% upon building permit issuance, 30% upon construction commencing (foundation), and 10% upon completion.
The City notes that CMHC is requiring that all eligible projects must have building permits issued by November 9, 2026, which means building permit applications must be received by no later than September 2026.
The City of Edmonton will also have set intake periods for applications, with the first round closing on September 30, 2025 and the second round closing on December 31, 2025. A third round, if necessary, would close on March 31, 2026. Each round will be followed by a evaluation period where the selection committee assesses the applications.
The Downtown Student Housing Incentive program will be launching with $15 million — funded via the Housing Accelerator Fund — and will be closed should all available funding be allocated.
"The development of student housing in the downtown core directly supports the City of Edmonton’s goal of building an inclusive city where everyone, regardless of background, can access safety, stability and the opportunity to thrive," said City in the council report. "For students, especially those relocating to Edmonton, access to appropriate housing is foundational to academic success, well-being and long-term community integration. Purpose-built student housing helps meet this need by offering a stable alternative to overcrowded, unsafe or unaffordable options, which disproportionately impact equity-deserving populations."
"Housing insecurity presents a barrier to many individuals who may lack employment history, local references or sufficient financial resources," City staff added. "These barriers often compel students, particularly those who are Indigenous, newcomers, low-income or from equity-seeking backgrounds, to accept living arrangements that do not meet basic standards of safety, stability or suitability. According to Statistics Canada, households are considered in 'core housing need' when they lack access to adequate or suitable housing and must spend more than 30 per cent of their income on alternatives that meet those criteria. This definition frequently applies to students, who often fall into low-income categories and struggle to find appropriate accommodations near their place of study."
The Downtown Student Housing Incentive was approved by Edmonton City Council on August 19.
Rendering of 635 Sheppard Avenue East and 1 Greenbriar Road/Icon Architects
A 12-storey mid-rise proposal slated for 635 Sheppard Avenue East and 1 Greenbriar Road in the North York district of Toronto has jumped in height to 30 storeys, according to revised plans from AC Development. The more-than-double increase reflects the fact that “the policy framework and development trends for the surrounding area have changed,” according to the planning report that went to the City.
Official plan and zoning bylaw amendment applications for the initial 12-storey development at southeast corner of Sheppard Avenue East and Greenbriar Road were adopted by City Council in October 2023, and at the time, the proposal called for 145 units, as well as around 115,510 sq. ft of total gross floor area (GFA), including around 4,343 sq. ft to be dedicated to non-residential.
Today, AC’s vision for the property extends to include 351 residential units, around 241,291 sq. ft of total GFA, and around 3,283 sq. ft of non-residential GFA. For its residential part, around 238,008 sq. ft have been proposed, which would accommodate 28 bachelor units, 233 one-bedrooms, 54 two-bedrooms, and 36 three-bedrooms.
Site plan for 635 Sheppard Avenue East and 1 Greenbriar Road/Icon
“The studio units average [around 398-430 sq. ft] in size. The one-bedroom units average [around 441-700 sq. ft] in size. The two-bedroom units average [around 700-936 sq. ft] in size. The three-bedroom units average [around 893-1,076 sq. ft] in size,” the planning report says. “The varied unit-mix is intended to meet the diverse needs of the community, keeping in mind that higher-density housing provides flexible and amore attainable housing opportunities for a range of household sizes and incomes.”
In addition, the developer is planning 97 vehicle parking spaces and 274 bicycle parking spaces to be provided both underground and at grade.
For the project’s amenity part, a total of around 13,673 sq. ft is being proposed, which includes around 6,866 sq. ft to be located indoors, on the seventh floor, and around 6,807 sq. m to be located outdoors, at grade and on the seventh floor, connecting to the indoor amenity. “The outdoor amenity area includes a pet relief area, children’s play area, and outdoor terrace,” the planning report notes.
Rendering of 635 Sheppard Avenue East and 1 Greenbriar Road/Icon Architects
Renderings prepared by Icon Architects show a six-storey podium with commercial space located along the Sheppard Avenue East frontage. The podium juts out slightly beneath the the angular 24-storey tower, which, perhaps most distinctively, features a white wave-like design that undulates vertically along the building faces.
The subject site at 635 Sheppard Avenue East and 1 Greenbriar Road is located along the Line 4 (Sheppard) subway line with Bessarion Station around a four-minute walk away, and Bayview station around an eight-minute walk away.
With the site's transit connectivity in mind, it should come as no surprise that more than a dozen developments in various stages of entitlement are due to crop up in the area, including a 45- and 55-storey project at 567 Sheppard Avenue East from Concord Adex, and a 32- and 28-storey project at 690 - 720 Sheppard Avenue from Sky Property Group, known as Burbank Heights.