Ownership rights refer to the legal entitlements a property owner holds, including the rights to use, sell, lease, or modify their real estate asset.
Why Ownership Rights Matter in Real Estate
In Canadian real estate, ownership rights are protected by law and form the basis of property use and value. They may be full (freehold) or limited (leasehold) depending on the property type.
These rights typically include: The right to occupy and enjoy the property The right to exclude others (within legal limits) The right to transfer, mortgage, or bequeath the property
Ownership rights can be affected by zoning laws, easements, encroachments, or co-ownership agreements. Clarity about these rights is crucial during purchase, construction, or legal disputes.
Example of Ownership Rights
A condo owner’s right to renovate is limited by condo bylaws, showing how ownership rights can be subject to legal and structural restrictions.
Receivership is a legal process where a court or secured creditor appoints a receiver to take control of a borrower’s assets, such as property or. more
A REALTOR is a licensed real estate professional who is a member of the Canadian Real Estate Association (CREA) and adheres to its Code of Ethics and. more
Property maintenance refers to the ongoing upkeep, repair, and management of a building or land to preserve its safety, functionality, and appearance.. more
A rendering of the District Northwest project planned for 13438 105A Avenue in Surrey. / Arcadis
In a rare and unfortunate turn of events, the stalking horse bid to take over the District Northwest project in Surrey by Thind Properties has been terminated, according to court documents.
The District Northwest project is set for 13438 105A Avenue in Surrey, a two-acre site located about midway between the Expo Line SkyTrain's Gateway Station and Surrey Central Station. For the site, Thind Properties — through 105 University View Homes Ltd. and District Northwest Limited Partnership — was planning two high-rise towers with a total of 1,023 units.
As first reported by STOREYS, the project was placed under receivership on November 8 at the request of Toronto-based KingSett Capital after Thind failed to meet its obligations pertaining to a first-ranking mortgage for the principal amount of $55,750,000. KingSett Capital was owed $85,695,102.47 as of October 1, with interest accruing at a rate of $31,661.89 per day. Some 873 of the 1,023 units — 85.3% — had been pre-sold by the time the receivership came into effect.
Earlier this year, the Supreme Court approved the sales process for the project, which was launched with a stalking horse bid — a default bid conditional on no better offer being received — of $86,000,000 from 1419195 BC Ltd., an entity controlled by Coquitlam-based construction company BM Group (BMG).
The bid, as previously reported by STOREYS, included the assumption of the existing presale purchase agreements, but because the BC Financial Services Authority had previously asked Thind and the Receiver to cease sales, the Receiver had to file a new disclosure statement to restart sales. When new disclosure statements are filed, the existing purchasers of a project are granted the right to back out of the agreement.
A rendering of the District Northwest project planned for 13438 105A Avenue in Surrey. / Thind Properties
As this results in uncertainty for the developer, the stalking horse bid from BM Group was contingent on there being, by June 6, either enough units under contract that the aggregate sales price was at least $420,000,000 or the aggregate deposits collected totalled at least $63,000,000. In other words, the fate of the District Northwest project was placed in the hands of the presale purchasers, and the purchasers have since spoken.
"Since the filing of the New Disclosure Statement and the delivery of the Pre-Sale Purchaser Notice, the Receiver has received numerous notices of rescission — exceeding the maximum amount contemplated under the Stalking Horse APS — from Pre-Sale Purchasers wishing to rescind their Pre-Sale Contracts," said the court-appointed Receiver in a document dated June 18.
According to the Receiver, the stalking horse purchase agreement was terminated on May 30, before the aforementioned June 6 deadline had even come to pass. The Receiver did not outline the reasons why buyers backed out of their purchase agreements. However, Thind originally launched sales, which were handled by Rennie, in December 2021, meaning the purchasers have already had their deposits tied up for several years and would have had them tied up until at least December 2030 — the new outside completion date the buyers had to agree to if they wanted to stick with their purchase.
Although the collapse of the stalking horse bid is unfortunate, it set a price floor that all other offers had to beat, which may have potentially limited the number of bidders. With no stalking horse bid to beat, lower bids can now be submitted, although the number of bidders may still be limited due to the size of the project and the ongoing challenges with presales.
This time around, however, the Receiver is opting to retain commercial real estate brokerage JLL as the sales agent, after previously not using one. JLL is also the sales agent for Thind's Minoru Square project that's also under receivership and would earn a 1.00% commission pertaining to the sale of District Northwest. Dates have not been set, but the new sales process is expected to run for approximately two months, pending court approval on June 24.
Le Louvre at 11025 25 Avenue NW in Edmonton, which is currently on the market. / Institutional Property Advisors
When there is uncertainty, people naturally look for safe harbour. In the world of commercial real estate, that safe harbour has become multi-family assets, according to commercial real estate brokerage Avison Young.
"Purpose-built rental housing is attracting increased attention from investors to weather the economic uncertainty from the ongoing trade war," said Avison Young in their Spring 2025 multi-family market report. "Investors are drawn to multi-residential assets due to the prospect of owning a positive and stable cash flow asset on day one of acquisition, with a positive, long-term sentiment for rental rate upside."
Across the country, investment in the multi-family market improved in all of the major markets from 2023 to 2024, in terms of sales volume, while the average price per unit has cooled from a peak of around $422,000 in 2023 down to $300,000, according to the report. Much of the recent activity has been driven by international immigration and interprovincial migration, the latter concentrated in Alberta and its two largest markets.
"The multi-family market, the story around it was really positive during COVID," said Jandip Deol of Avison Young's Edmonton Multi-Family team in an interview with STOREYS last week. "I think the general sense was that everybody needs a place to live and that was a huge value draw for a lot residents across the country. We saw the investors from BC and Ontario come into our market around COVID. That really spurred a lot of our transactions during COVID and post-COVID."
Deol says that Edmonton and Calgary started seeing a growth in rents over the last 24 months that they've been waiting more than 15 years for, which has really driven investment activity and transaction volume in both markets, as the multi-family markets in BC and Ontario both took a downturn. Although rents have made significant jumps, they generally remain more affordable than many other major markets across the country, and that combination has resulted in significant investor interest.
"Rents have moved more in the past 18 months than they have in the past decade," added Haig Basmadjian, an Associate Vice President at Avison Young Calgary. "Alberta, generally speaking, has been on the map now for investments for the first time since 2013. It's been very good for our market, with a lot of out-of-province interest driving that. What we're seeing is a large part of the absorption is coming from, of course immigration, but interprovincial migration."
Calgary vs. Edmonton
Some may be tempted to lump Calgary together with Edmonton, but there are some notable distinctions between Alberta's two largest markets.
"Edmonton is a much larger universe than Calgary when it comes to the amount of rental product they have," said Basmadjian. "Calgary did experience quite a run on rents. Those rents increased quite dramatically over a relatively short period of time. Edmonton experienced growth as well, but I think Calgary was leading the country in growth metrics when it comes to rents. But it also had an unprecedented number of housing completions in 2024. We had over 5,500 units in 2024 completed and we're scheduled to have more than that in 2025."
"I think the best way to break it down is just simple supply and demand," added Deol. "Calgary having less units means the rents move up quicker. There's more elasticity in the market, whereas Edmonton typically lags Calgary by nine to 18 months and the run-ups are a bit slower. We're still kind of in that run-up stage. Edmonton, in some areas, is still seeing some rental growth. Vacancy is still really tight — we're sub-5%, which is very healthy for our market. Specifically, with some of the newer assets, we're seeing that they're, depending on location, holding quite well in terms of occupancy. I spoke to an investor client of mine last week and he purchased 2,000 units in Edmonton and Calgary in the last 18 months and out of 2,000 units in Edmonton he only has three vacancies."
Population growth in British Columbia, Alberta, Ontario, and Quebec between Q1 2007 and Q1 2025. / Avison Young
Basmadjian and Deol say some of the contributing factors behind Edmonton's much larger universe of multi-family product include the city's much longer history of building purpose-built rental, as well as the fact that it is a government city and is home to the University of Alberta (with its large demographic of renters). Meanwhile, Calgary has been more of a buyer city than a renter city, until recently, and is more white-collar while Edmonton is more blue-collar; although Calgary is seeing a shift with more young people renting as developers improve the array of amenities in their buildings.
In Calgary, Basmadjian says older product is still "tremendously popular" and there is a lot of interest in smaller, value-add multi-family properties, but newer assets are starting to transact as the bid-ask spread is tightening. For Edmonton, Deol says the market is generally "agnostic" when it comes to old versus new product and he and his team are seeing a healthy dose of attention in both.
Interest From Institutional Investors
According to the Avison Young team, much of the market in Alberta is currently being driven by private investors, with a majority of buyers right now having origins outside of the province. And that percentage of out-of-province buyers continues to increase, which hasn't happened in a long time, with large institutional players like REITs starting to follow and actively look at Alberta again.
"I'd say the top 10 is 50% private and 50% institutional, with institutional including the REIT players," said Deol. "Deals in the Alberta market are accretive, whereas they are not in BC and Ontario, and that's why you've seen attention diverted our way. You can still come in and get a healthy spread between your cap rate and your debt/cost of capital, which is why the entire country is looking at us right now. We've never seen investment from the Montreal contingent — there's 400,000-plus units in Montreal so there's enough horsetrading that goes on there — but we actually saw a huge contingent of Montreal players come to the Alberta market and essentially start up a buying frenzy here. It just shows you that these are unprecedented times in terms of demand, product delivery, and, as a result, transaction volumes."
"The pandemic was a complete reset and now we're well back over pre-pandemic levels," said Bradley Gingerich, Senior Managing Director of Marcus & Millichap's Edmonton-based Institutional Property Advisors (IPA) team. "The buyer pool has definitely changed. We lack large institutions, but we're getting a lot of private money and a lot of private money is doing institutional-sized deals."
"I think the large REITs and institutions are hesitant, as they've always been, towards Alberta," he added. "Generally, they come to Calgary first and then come to Edmonton second. It takes time to get markets heated up enough that they come in the sights of those institutions. It starts off with syndicators, then the wealthy families, and then some of the larger property owners. Boardwalk [REIT], Mainstreet [Equity], Avenue Living are staples in this province, but CAPREIT's becoming a pretty big staple."
Pricing
With all that buyer interest and rents also on an upwards trajectory, it's then reasonable to wonder how pricing has been affected.
"First and foremost, yes, there's been an increase in per-unit pricing throughout the market, in Calgary certainly, but it's a combination of two things," said Basmadjian. One: it is driven by the rent growth. But two: it's also driven by the competition. Competition drives pricing so when you have more groups that are coming, especially the ones from out of province, it's driving pricing upwards."
"There's been two distinct inflection points that have increased multi-family values, added Deol, speaking about Edmonton. "One was COVID and that was replacement cost. Obviously, we sell income-producing assets so it's always basically you keep your NOI, you divide it by cap rate, and you get your valuation. That really didn't hold true during COVID as rents came down, so we were selling based on replacement cost. Now that has changed back to NOI and cap rates, because rents have come up, the valuations are being pushed up by rent. In Edmonton, I would say that the valuations have not quite caught up to the rents, yet. I would say that by the end of this year, you're gonna see valuations kind of peak out."
Multi-family investment volumes by market (left) and average apartment rents by market (right). / Avison Young
Deol says that the average for new purpose-built suburban product, which is mostly what is being built in Edmonton, is around $240,000 a door today, but he expects the peak to be around $300,000 a door.
"The current MLI Select program that CMHC is offering has been really a blessing for Alberta, added Gingerich and his colleague Bradyn Arth, a Senior Vice President on the IPA team. "Metrics within that program work pretty well for Alberta and allowed a lot of the investors to get high leverage, like 95% loan-to-value, and that really drove the market. In Alberta, where there's no rent control, MLI Select brings that in and people do it willingly. It's a beneficial program for both sides."
"Because of that financing, you saw a lot of the private guys be able to reach upwards of $50 million and $100 million deals, because you're only putting 5% down," said Arth. "So you could buy a lot of real estate. It changed the game for a lot of those guys."
"Generally, the story is when Montreal, Toronto, and Vancouver are hot, Alberta is not," explained Gingerich. "When Alberta is hot, the rest of the country isn't. Alberta's been hot for the past... year-and-a-half and it looks like it will be this year as well."
Perched above the storied shoreline of British Columbia’s Sunshine Coast, 1887 Lower Road is the kind of retreat that captures the region’s most coveted offering: a seamless fusion of luxury, nature, and soul-soothing privacy.
Completed in 2023, this 4,666 sq. ft. estate spans 3.7 acres of forested grounds and curated gardens, culminating in 162 feet of private beachfront.
While the property is just minutes from Roberts Creek’s shops, restaurants, and world-class trail systems — including Soames Hill and Cliff Gilker Park — it feels worlds away from anything but stillness and sea air.
Designed to mirror the flow of its natural surroundings, the home’s west coast modern architecture embraces light, views, and clean lines. Schüco floor-to-ceiling windows wrap nearly every wall, letting in uninterrupted southern light and showcasing panoramic vistas of the Pacific Ocean.
Inside, dual living rooms and a sophisticated chef’s kitchen anchor the main floor, while high-end finishes and warm, contemporary styling lend a calm elegance throughout.
Outdoors, every element has been considered to enhance both function and serenity. A Japanese-inspired garden plays with balance, texture, and asymmetry, creating a tranquil transition between the home and its beachfront setting. Meandering paths lead to an infinity pool and hot tub framed by arresting coastal views, while a 12-seat cabana offers a natural gathering place to relax, recharge, or watch the sun dip below the horizon.
The sleeping quarters are no less considered. The primary suite — a breathtaking sanctuary with 270° views of ocean and forest — includes an ensuite with a steam shower and soaker tub designed for total immersion in nature. A second principal suite on the lower level connects directly to the outdoors, while each of the private guest bedrooms offers walk-out access to the landscaped terraces.
It's the 270° ocean views from the primary suite, for us.
While the home stuns at every turn, it’s this tranquil, light-filled sanctuary — with its spa-calibre ensuite and wraparound forest-and-sea vistas — that elevates the experience from luxurious to unforgettable.
Whether your aim is escape, adventure, or quiet connection to BC’s extraordinary coast, 1887 Lower Road invites you to experience it all — without compromise.
This is more than a luxurious home: it’s a deeply personal retreat where design and nature are in perfect harmony.
In a quiet crescent just northwest of Edmonton, one of Alberta’s most distinct custom estates awaits.
But take note: 46 Kingsford Crescent isn’t simply a large home with high-end touches.
Here, every square inch has been tailored to the vision of its owners — culminating in a one-of-one residence defined by personal luxury and architectural ambition.
Set across more than 7,700 sq. ft. of finished space, this palatial home is an orchestration of fine craftsmanship and opulent amenities. It’s a place where each room tells a story: from the designer chef’s kitchen to the “Royalty suite” — a primary bedroom that channels five-star hotel indulgence — every space feels infused with its own narrative of elegance.
Expansive ceiling heights open the interior to natural light, which pours through oversized windows and skylights, creating sun-splashed vignettes throughout the day. The home's floor plan is as functional as it is majestic, balancing grand open-concept living areas with carefully curated corners for private enjoyment.
Among the standout features is a spa-inspired indoor pool built for year-round recreation, relaxation, and wellness. Just outside, a screened four-season sunroom makes hosting effortless in any weather, while the rooftop patio — complete with a fire feature — offers a stargazer’s dream above it all.
The elevated rooftop patio — complete with its own fireplace — offers a starlit escape above the city. From summer nights to snowy winter views, the perch perfectly captures this home’s unique balance of luxury and imagination.
And luxury here isn’t only reserved for moments of relaxation. The property is also purpose-built for play and performance. For example, the oversized three-car garage converts into a full-scale sports court, offering space for everything from basketball to high-energy family activities. Below, a five-car parkade delivers showroom-quality storage for prized automobiles, all accessible by a RAM elevator engineered for seamless vertical movement — a nod to the home’s high-rise construction standards.
With no expense spared and every finish hand-selected, this residence isn’t just a statement — it’s an experience. And for the discerning buyer, it's more than a home. It’s a legacy waiting to be claimed.
A new 49-storey residential building could be headed for a prime development site just north of the Yonge Street and Highway 401 interchange in North York. The project would deliver 504 new condo units in close proximity to surrounding higher-order transit and other amenities.
Plans come from numbered companies 1001081495 Ontario Inc. and 1001081493 Ontario Inc., which filed Official Plan Amendment, Zoning By-law Amendment, and Site Plan Control applications in early May that seek to make a number of changes to the existing policy framework to erect their vision for the site.
Located at 36-40 Avondale Road just east of Yonge Street and south of Sheppard Avenue West, the site is situated within the Council-adopted Sheppard-Yonge Protected Major Transit Station Area (PMTSA). Qualifying the site and surrounding area for the PMTSA designation are the nearby Sheppard-Yonge Subway Station, TTC Bus Route #97, and a number of future transit infrastructure projects that would enhance connectivity for residents, such as the under-construction Yonge North Subway Extension.
But while the site enjoys a wealth of nearby transit options, "outdated" height and density restrictions under the current North York Centre Secondary Plan limit what is allowed to be built on the site, as does the current zoning, which limits development to single-family detached dwellings.
Currently, heights are limited to 65 metres and density is limited to a maximum Floor Space Index (FSI) of 3.5. In their plans, however, developers envision a multi-family residential building with a height of 166.5 metres (49 storeys) and a FSI of 25.9.
If approved, the development would join buildings such as the nearby 35- and 44-storey Hullmark Centre at 4759 Yonge Street, the under-review 49- and 53-storey Steamliner Properties development at 110 Sheppard Avenue East, and the under-review 40-storey building at 4696 Yonge Street.
The three one- to two-storey single-detached homes that currently occupy the site would be demolished and in their place would rise the 49-storey building comprised of a five-storey podium and 44-storey tower element. DIALOG has been retained by the developers to design the building and renderings from the firm depict a unique orange brick cladding with concave elements that run along the tower's exterior.
36-40 Avondale Avenue/DIALOG
Towards the bottom of the tower, you'd find outdoor amenity terraces that break up the podium and lower tower and provide 360-degree views of the surrounding neighbourhood.
On the second floor, the outdoor amenity space would span 3,216 sq. ft and offer north-, east-, and south-facing areas with a dining space, passive seating, a children’s play area, and on-site pet relief. This amenity area would also connect with a 5,265-sq. foot indoor amenity space on the second floor. On the sixth floor, a 360-degree, 4,314-sq. foot amenity terrace would offer seating areas and connect with a 3,478-sq. foot indoor amenity space.
In the tower, condo units would be divided into 21 studio units, 315 one-bedroom and one-bedroom plus den units, 84 two-bedroom and two-bedroom plus den units, and 84 three-bedroom units. Finally, across four levels of underground parking, residents would enjoy 70 vehicle parking spaces and 190 bicycle parking spaces.
If completed, this development would revitalize a currently under-utilized site while providing over 500 new housing units within close proximity to transit, Highway 401, and a number of amenities, such as the Yonge-Sheppard Centre, Willowdale Park, and a plethora of conveniences along Yonge Street.
One of Canada’s most celebrated modernist architects has left his mark on Cambridge, Ontario — and now, for $3.9 million, you could make it yours.
Hilborn House, a 1974 residence by Arthur Erickson, sits quietly on nearly two acres of riverside land in the city’s exclusive Blue Heron Ridge enclave.
The home at 194 Blue Heron Ridge was designed as part of Erickson’s Signature Collection, a grouping of works that fully embody his architectural philosophy: reverence for the landscape, masterful spatial flow, and a subtle nod to Japanese design principles.
Commissioned by the Hilborn family and custom-built in masonry, the 6,856 sq. ft. home is a study in restraint and harmony. Its lines are strong but not imposing, with cedar beams that extend out over the gardens and glass walls that dissolve the boundary between interior and exterior.
Inside, every detail — from the ceilings to the skylights — has been orchestrated to celebrate light, geometry, and nature.
The main floor is anchored by a chef’s kitchen outfitted with Gaggenau appliances and a large central island. Wood beams and a linear lighting system give the space a sense of rhythm, while its adjacency to the voluminous great room creates a seamless transition between cooking, dining, and entertaining. The layout is open but not exposed — a hallmark of Erickson’s ability to balance grand scale with human-scaled intimacy.
The home includes three bedrooms and four bathrooms, with the primary suite opening to a secluded garden and featuring a six-piece ensuite. Elsewhere: a sauna with dual mosaic-tiled showers, a sculptural fireplace, and floor-to-ceiling windows that draw the surrounding forest into view.
Modern touches have been added thoughtfully, including a Lutron smart lighting and shading system. Outside, a distinctive cedar deck roof harmonizes with the home’s natural materials, while a dedicated green space is serviced by a drip irrigation system. The property is accessed via a heated U-shaped driveway and includes an attached garage.
While many homes claim to blend into nature, this one actually does. From the cantilevered beams that extend into the canopy to the glass walls that erase visual barriers, Hilborn House is designed to blend with its surroundings— not dominate them. It’s an architecture of humility and grace, executed at the highest level.
But for all its features, Hilborn House’s real value lies in its authorship. Arthur Erickson, who passed away in 2009, remains one of Canada’s most influential architects. His work — from Simon Fraser University to the Canadian Embassy in Washington — is known for its powerful use of space and deep connection to the environment.
Residential designs by Erickson are few and far between, especially in Ontario, making this listing a rare architectural offering.
Hidden behind towering trees in the Southshore Woods neighbourhood of Innisfil is a contemporary waterfront home that is a true sanctuary for both relaxation and entertaining.
Situated on Lake Simcoe, 880 Shoreview Drive is a custom-built home by the original owners that has three structures across 3.4 acres of land with 280 feet of private waterfront shoreline. Recently listed for $12,900,000, the elegant property pops amongst the greenery with its pristine white shiplap exterior.
The interior of the main structure features soaring ceilings, wood accents, in-floor heating and large windows providing picturesque views of nature from every room. It has four bedrooms, seven bathrooms, and multiple spaces to host.
Whether you enter the home through the main entrance or mudroom, everyone visiting will have a memorable first impression. The mudroom corridor, attached to a two-car garage, is an unforgettable walk that feels like a palace hallway with a dark wood vaulted ceiling lined with chandeliers. The primary entrance takes you to the main living area with the option to go upstairs or into the basement, which has its own theatre room.
The home's spectacular mudroom and entrance
The main living space is ideal for entertaining with access to a screened-in porch, allowing guests to easily flow in and out. Its wood burning fireplace, with a stone mantel, brings that cozy campfire feel indoors no matter the season.
The space also connects to the gourmet kitchen, which is a cook’s dream with two islands, one for prep and the other for seating. It features premium appliances and ample storage with direct views of the water.
Inside-outside living on the screened-in porch
The second floor features bedrooms that reach extraordinary heights with vaulted ceilings and large windows for a bird's eye view of the property. The primary suite is a haven that resembles a spa. Position yourself in front of the gas fireplace or escape to the ensuite designed to amplify relaxation. With a clawfoot soaking tub positioned next to a window so you can daydream, a walk-in waterfall shower, an elegant chandelier and vanity with a seated make-up station, you won’t ever want to leave the primary bath. Also attached to the ensuite is a larger than life closet that carries a similar aesthetic to house's other rooms.
While every inch of 880 Shoreview Drive is designed for luxurious lakefront living, it’s the boathouse and its west-facing waterfront that truly steal the show. Nestled at the edge of the property’s private 280 feet of shoreline, this peaceful perch offers direct lake access and front-row seats to some of Lake Simcoe’s most stunning sunsets. At the end of the day, you can have every frill a multi-million dollar house can offer, but it's the lakeside living that will always steal the show.
For those working from home and who prefer not to mix business with pleasure, the 4,000 sq. ft detached shop on the property creates that balance. The space, also suitable for a hobbyist, has everything needed to conduct business with an office, boardroom, kitchenette and bathroom. It can even fit an RV or boat in the garage below.
The outdoor area is reminiscent of a resort. It has a sports court ideal for basketball players and pickleball or tennis enthusiasts, a putting green and an in-ground pool. By the lake is a boathouse that fits two watercraft, which has north and west-facing views sure to inspire a new evening routine as it offers an uninterrupted scene of the setting sun colouring the sky. After the sun disappears, you can light a fire and experience just how peaceful the property is with the only sounds being that of the crackling flames and wildlife.
For those wanting to immerse in the area, the home is situated by hiking trails, dog parks, beaches and a short drive to the Snow Valley Ski Resort. Nearby Highway 400 offers access to Toronto’s core in about an hour and half along with the nearby Barrie GO South station.
Elysium Investments has just gone firm on a prime North York parcel at 41-47 Talara Drive, marking its sixth active development site in under three years — and reinforcing its reputation as one of the GTA’s most forward-moving, future-focused real estate players.
The acquisition, located just east of Yonge and Sheppard, sits steps from Bessarion Station — one of the TTC’s most underutilized subway nodes. Elysium sees this as no coincidence, but rather a high-impact opportunity to intensify an area where existing infrastructure is ready for smarter use.
“We view Bessarion as an urban canvas," says Elysium CEO Sayf Hassan, "layering density where the city’s blueprint already exists."
Strategic Densification in a Shifting Market
Elysium’s entry into this midtown pocket aligns with growing momentum along the Sheppard East corridor, where city planning, market interest, and community evolution are all converging. The firm points to the Sheppard East reNEW plan and a surge in development activity — including Tribute Communities’ recent move to increase height at 71 Talara Drive — as validation that the area is entering a new chapter of density and livability.
“Bessarion Station is more than a stop,” Hassan says. “It’s a bridge to Bayview Village’s vibrant shops, just two stops from North York’s core, and a direct line to downtown Toronto, linking residents seamlessly to daily essentials, urban life, and the heart of the city.”
Moreover, Elysium’s in-house analytics, combined with strategic insights from Urbanation and SVN, have mapped how these residences can weave into Toronto’s transit fabric — ensuring Talara Drive becomes a natural extension of the city’s pulse.
“We stitch housing directly onto subway lines — making daily commutes a chance to meet neighbours, explore hidden parks, and meet the City head on," Hassan explains.
Talara’s Vision: Transit, Green Space, and Design-Forward Living
Beyond its transit adjacency, the Talara site is also uniquely positioned next to Talara Park. Elysium intends to bridge these two assets — transit and green space — into one cohesive living experience that offers both connectivity and calm.
“At Talara Drive," Hassan describes, "we’ve reimagined each residence as part of a living network — where doorstep access to transit sparks spontaneous moments and collective experiences."
That balance will also be reflected in design. The team sees the scale of the Talara site as a canvas for architectural ambition and public realm leadership, with a focus on building inclusive, well-crafted housing that doesn’t trade quality for density.
A Broader Pattern of Purpose-Driven Growth
With this acquisition, Elysium’s development pipeline now totals 3.2 million sq. ft of gross floor area, more than 4,100 residential units, and an estimated completion value of $3.24 billion.
And, despite the firm’s rapid growth, its approach remains intentionally selective — targeting sites that offer long-term potential, community integration, and structural value.
A Sneak Peek at Yarra: Purpose-Built Housing for Students
In tandem with Talara, Elysium is also preparing to launch a new platform focused on purpose-built student rental (PBSR) housing.
Dubbed Yarra, the initiative is a response to the growing student housing crisis — a sector long dominated by institutional investors, where affordability and student needs have often taken a backseat.
With Yarra, Elysium aims to reverse that trend. The platform is being developed in close collaboration with student boards and campus groups, ensuring that housing is built not only for students, but with them — and that priorities like affordability, independence, and belonging are front and centre.
At a time when student demand is rising and supply remains critically short, Elysium’s timing is deliberate. Yarra is also designed to welcome partnerships, be they with universities seeking off-campus housing solutions, investors looking for long-term stable returns, or developers exploring new JV models.
Scaling with Intention
First from the Baltics to Toronto, and now from Talara Drive to student rentals, Elysium’s trajectory reflects more than just speed — it reflects a data-backed approach to housing innovation. In a market where many players are pulling back, Elysium is leaning in — and building toward a version of Toronto that’s more equitable, architecturally expressive, and ultimately: connected.