Fiera Real Estate Development Fund IV acquires the site located at 1840 Bayview Ave
Fiera Real Estate Development Fund IV (“The Fund”) has just closed on a high-rise mixed-use condo development site in the desirable Midtown Toronto area in partnership with Skale Developments. The site is located at 1840 Bayview Ave and the buildable area is estimated at 220,000 square feet, representing 285 units, and 2,000 square feet of retail space. This is Fund’s first residential project in the Greater Toronto Area.
The site is located on the west side of Bayview Ave, 350 metres away from the Leaside LRT station, and close to groceries, coffee shops and multiple restaurants. This project will include majority of the parking spots to have EV charging capability, further we intend to make available over 300 short-term and long-term bicycle stalls for active transportation. Currently, the 1840 Bayview Ave project is in an early design phase. The intent of the design will be to provide an efficient building envelope design that is complemented by the mechanical systems. Fenestration selected will be high performance with a solar heat gain coefficient optimized to meet the Thermal Energy Demand requirements.
“The Fiera Real Estate Development Fund IV is pleased to undertake its first residential project in the GTA. This project not only adds to the housing stock along a major transit area, but enables Fiera Real Estate to apply its environmental, social and governance (ESG) strategy directly into its investment management activities”, declared Pierre Pelletier, Head of Real Estate Development and Financing – Canada.