Woodbourne And Capital Developments Start 500-Unit Toronto Rental Tower
A downtown Toronto tower once planned for condominiums is moving ahead as a 508-unit rental development, with Woodbourne and Capital Developments breaking ground on the 50-storey project at 88 Isabella St.
The start of construction marks a significant shift for the Church-Wellesley property. An earlier proposal called for a 62-storey condominium tower, but revised plans submitted in June replaced that concept with purpose-built rental housing, including 82 rental replacement apartments.
Capital Developments is pursuing the project through Address, its rental housing platform. The 380K-SF development is the second rental collaboration between the two companies, with completion expected in 2030.
“88 Isabella is our second purpose-built rental together,” said Jordan Dermer, co-founder and CEO of Capital Developments, in the groundbreaking announcement.
Designed by Diamond Schmitt Architects, the building will rise just east of Church Street, within walking distance of Toronto’s two main subway lines.
Plans include a publicly accessible space at street level, an outdoor terrace and swimming pool, fitness and spa facilities, and coworking areas with double-height ceilings.
The developers are targeting LEED Gold certification, with Cecconi Simone overseeing interior design.
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Remax Real Estate Professionals
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Central CA Commercial | California
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Rick Recckio
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Northgate Real Estate Group
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Essex Property Trust, Inc.
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