TORONTO, ON, Nov. 9, 2022 /CNW/ – In just over a month, more than 500 units have been sold at 8 Elm on Yonge, a project by Reserve Properties and Capital Developments. Launched at the end of September, extraordinarily high demand for the 69-storey mixed-use tower at Yonge and Dundas has led to the sale of over 500 of the 630 suites that were released to market. The new development was launched in collaboration with Hollywood actor, Simu Liu, who lent his creativity to the design process, including the suite interiors and amenity programming.
“The response to 8 Elm is a testament to the ongoing demand for living opportunities in prime neighbourhoods that are close to transit,” says Shane Fenton, Chief Operating Officer, Reserve Properties. “In addition to having the best location in the city, we have received exceptionally positive feedback about the quality and efficiency of our suite designs. We are thrilled that our efforts were met with such enthusiasm.”
“We are pleased to have achieved this milestone so quickly,” says Jordan Dermer, Co-CEO and Co-Founder, Capital Developments. “Towers like 8 Elm do not come around often, so buyers were able to look around short-term economic uncertainty to the long-term appeal of owning in this location.”
Located at Yonge and Elm Street, steps away from the bustling Yonge Dundas Square, 8 Elm will blur the lines between residential living and hospitality. A 26,000 square foot indoor and outdoor amenity program features a wrap-around terrace, fitness centre, social lounge, games room and a co-working space. On the fifty-sixth floor, residents have access to the Sky Club, a sophisticated hospitality-inspired amenity, akin to a private social club, with spectacular views of Toronto.
Architecture by IBI Group will see three heritage facades restored at grade, and a soaring tower defined by a glass reveal above the podium, creating a unique distinction from the heritage properties. With interiors by award winning design firm, Cecconi Simone, 8 Elm is inspired by New York’s doorman buildings, striking the perfect balance between contemporary and traditional design through classic materials and rich textures.
8 Elm was launched in September 2022, with construction due to begin in Q1 of 2023.
To register for remaining units, please visit: https://www.8elm.com/
About Reserve Properties
Reserve Properties is an active developer of residential, retail and mixed-use properties. With 40 years of experience, the executive team has been involved in 135 projects encompassing 15,000 homes and over 2 million square feet of commercial and retail space across North America. The Reserve team spans two family generations, offering extensive expertise in all aspects of real estate development, construction and financing. Reserve hires the best professionals and consultants to help bring each venture to life. This philosophy, coupled with a steadfast commitment to the best interests of their clients and customers, has helped the company achieve the success it enjoys today. With a history of executing forward-thinking multi-residential projects like Untitled, Line 5, Rise, and Bellefair, as well as high-volume retail spaces for national tenants including Starbucks, LCBO and Shoppers Drug Mart, Reserve has always demonstrated a progressive approach to neighbourhood development.
About Capital Developments
A Canadian industry leader with international roots, the principals of Capital Developments have delivered over 12 million SF of mixed-use projects. Capital Developments has 1.3 million SF under construction and is actively advancing its 4.2 million SF Toronto pipeline. Capital believes that architecture, location and design all matter – but personal connections, trust and relationships matter just as much.
SOURCE Reserve Properties
For further information: For additional information or interviews please contact: Press Contacts: Kimberly Riddell, [email protected], 647-969-6689; Vakis Boutalis, [email protected], 416-578-1741