Greybrook Realty Partners is slated to develop the new low-rise community
A multimillion-dollar investment by Toronto-based private equity firm Greybrook Realty Partners will fund the development of more than 2,600 new homes in Lindsay, Ontario.
The company announced earlier this week that it has closed a $43.525-million deal to acquire and develop a parcel of land, located east of Highway 35 in Lindsay.
“Together with its developer partner, Tribute Communities, the firm intends to develop the land into a residential community consisting of over 2,600 townhomes, semi-detached, and single-detached homes,” Greybrook said.
The development is bordered by an existing residential community to the east and a new commercial and residential site currently under construction to the south, Greybrook said.
“The site’s proximity to Highway 35 and Highway 7 provides convenient access to communities within and beyond the region, including neighbouring Peterborough, Durham Region, as well as communities in the northeastern parts of the Greater Toronto Area such as Markham and Richmond Hill via Highway 407,” Greybrook said.
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The project is Greybrook’s latest step in its plans to acquire prime land for residential development across the Greater Golden Horseshoe Region, said CEO Sasha Cucuz.
“We are thrilled to be working once again with our long-standing developer partner, Tribute Communities, on the development of this master-planned community,” Cucuz said. “This will be our 13th residential development together and we look forward to not only offering our investors a great investment opportunity, but also bringing much-needed housing to this growing region that will spur economic activity and growth beyond the GTA.”
