Dream Unlimited Corp., Kilmer, and Tricon Capital Group have partnered to develop a residential rental community in Toronto, comprising 1,500 units and retail space, emphasizing affordability and sustainability.

Target Information

Dream Unlimited Corp. (TSX: DRM), Dream Hard Asset Alternatives Trust (TSX: DRA.UN), Kilmer, and Tricon Capital Group Inc. (TSX: TCN) have established a strategic partnership to develop and manage a new residential rental community in Toronto's West Don Lands. Through a marketed offering, the Partnership has secured 99-year land leases with Infrastructure Ontario on behalf of the Ministry of Infrastructure. This endeavor will transform several land parcels into a community comprising approximately 1,500 rental units, as well as ancillary retail and potential office spaces.

The targeted lands encompass five development sites over nine acres, strategically located at the intersection of Cherry and Mill Streets in Toronto's downtown east district. This area is notably close to vibrant neighborhoods such as the Distillery District and Canary District, and facilitates connections with the larger Waterfront Toronto's Quayside development. This project marks a vital component in the ongoing revitalization of Toronto's east end.

Industry Overview

The demand for residential rental properties in Toronto has significantly escalated due to ongoing population growth, urbanization, and a shift toward rental living. With rising housing prices, there is an increasing need for a