New Townhouse Development to Replace Former Chrysler Dealership
The Canadian real estate market is gaining some serious traction as property developers and investors funnel their capital into the industry. Lalu Canada are the latest property moguls to make a mark; they plan on building a combination of condominiums and townhouses totalling 286 units on the corner of Birchmont and Lawrence East. Once upon a time there was a Chrysler dealership in this location, but it is about to be replaced with some luxury living spaces.
Lalu Canada put in a proposal to Toronto city council for the building project in July. It was approved immediately, and they plan on completing it by 2021.
This is only the beginning; property investors also plan on building condos and townhouses on Markham road. This business venture will also include a public parkette measuring 500-square meters on Dulverton Road. These new buildings will be lavished with green roof space totalling 650 square meters.
This is not just real estate investments; the entire community will benefit. The Maidavale Park playground will have a luxury rubber sized surface built into it totalling $90,000. The McGregor Park Toronto Public Library will receive a $145,000 investment to refurbish the entire location. And a glamorous piece of public art will be erected on the corner of Lawrence and Birchmount costing $250,000.
The Lalu Canada construction project will also secure additional safety for the community with a new traffic signal at Birchmont and Dulverton at a price of $200,000. This gesture was recommended in a transportation impact study, and Lalu Canada have agreed to fund it.
This is an exciting time for the area, new buildings will provide additional living spaces for residents, and the investments within the community will provide a huge boost to the economy in this area. Lalu Canada is looking forward to what the future holds for them in the real estate industry in Toronto.
7694 Islington Ave, 2nd Floor Suite 220
Vaughan, ON L4L 1W3
Tel: (905) 856-7514
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