TORONTO, /CNW/ – Alterra Group of Companies, DBS Developments and Platinum Vista are delighted to announce their joint venture located at 566-576 Sherbourne Street and 29-37 Linden Street. This momentous collaboration showcases a new relationship forming strategic alliances with like-minded development companies.
Alterra President Stuart Wilson expressed his enthusiasm about the partnership stating, “We are thrilled to embark on this exciting journey with DBS Developments and Platinum Vista.” Alterra CEO Rob Cooper added, “Collaborating with new partners is a crucial aspect of Alterra’s growth strategy, and we are confident that this alliance will create remarkable urban living spaces.”
The site’s exceptional location and unparalleled potential captivated the attention of all three partners. The project’s current site consists of an assembly of ten houses nestled on a leafy downtown street. The exceptional surroundings and unique neighbourhood charm make this development ideal for developing high-quality housing during the city’s housing crisis.
“The development presents an incredible opportunity for creating new homes,” emphasized Josh Shteiman, VP – Development Operations, Platinum Vista. “The location, combined with our shared expertise, will make a remarkable addition to the cityscape. We believe this project will create a lasting impact and contribute to the vibrant growth of the community.”
To bring the development to life, Alterra, DBS Developments, and Platinum Vista have entrusted the design team at Arcadis IBI Group. Currently in the planning and design stage, the project includes a heritage component that pays homage to the area’s historical significance. The integration of heritage showcases the partners’ shared commitment to preserving Toronto’s existing urban fabric.
The proposed multi-residential tower will stand an impressive 59 stories high and offer over 700 suites, ranging from studio’s to spacious three-bedroom residences. The thoughtfully designed living spaces will provide residents with the utmost comfort and modern conveniences. The development showcases the meticulous planning and thoughtful design brought forward by the partners.
Beyond creating exceptional living spaces, this development aims to play a significant role in the neighbourhood’s ongoing transformation. The area surrounding the project is currently transitioning, and the partners intend to breathe new life into this previously overlooked part of the City. Bryan Levy, CEO of DBS Developments, expressed his vision: “Our goal is to bring illumination, vitality, and prosperity to this neighbourhood. We hope to attract new visitors, encourage local business growth, and revitalize this part of town that has long been awaiting a resurgence.”
Alterra Group of Companies, Platinum Vista, and DBS Developments remain committed to their like-minded values of excellence, innovation and community engagement. With this development, these three partners look forward to creating a landmark project that will redefine Toronto’s urban landscape.
SOURCE Alterra Group of Companies
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