Equiton unveils its largest condo development yet at TEN99 Broadview, promising urban living near downtown Toronto
Equiton has announced the acquisition of land at 1099 Broadview Avenue, Toronto, for its latest and largest condominium development, TEN99 Broadview.
Located just minutes north of the Bloor-Danforth subway line and close to downtown Toronto, this mid-rise project aims to expand Equiton's footprint in the city's vibrant housing market.
The development is part of a strategic move by Equiton's Equiton Developments team, which is stationed in the firm's newly opened second office in Toronto's financial district.
TEN99 Broadview represents a significant addition to Equiton's portfolio, underscoring its commitment to providing profitable investment opportunities and enhancing the national housing stock.
Jason Roque, founder, and CEO of Equiton, expressed enthusiasm about the new project. “TEN99 is exactly the kind of project that we plan to acquire and develop more of in the near future,” he stated.
He highlighted the property's transit-oriented location near prime green spaces and local amenities, ideal for urban living.
The project arrives at a crucial time as private developers like Equiton play a significant role in addressing Canada's housing shortage. Over 2,300 units are currently in various stages of development approval in the Broadview corridor, reflecting a dynamic area of growth.
Equiton Developments recently opened registrations for another Toronto project, KüL Condominium at 875 The Queensway. Together with ongoing developments in Ottawa and Guelph, Equiton is actively enhancing its portfolio through careful selection of mid-rise developments in the early planning stages.
Ryan Donkers, vice president of Investments at Equiton, emphasized the strategic approach behind their acquisitions.
“Our focus is on well-located, mid-rise developments in the early stages of planning. With our development team's experience in major markets like Toronto, we can feel very confident that a selected project will result in bringing new homes online while creating value for investors,” he said.
TEN99 Broadview is slated to welcome its first occupants by late 2028. Upon completion, the property is expected to be valued at approximately $386m, contributing to a projected completion value of $1.22bn for Equiton's development portfolio and targeting an annual return of 20 percent for investors.
