Residential rental market heats up for GWLRA’s Eastern Development Team
October 21, 2021
455 Rene Levesque the latest addition to company’s growing Livmore residential portfolio
Over the past 10 years, GWLRA has earned a reputation as one of Canada’s premier developers of residential and commercial real estate. We look for development opportunities that align well with the long-term interests of our clients and that add value to the communities where they are built. To achieve these goals, our developments are technologically advanced, socially acceptable and environmentally responsible. Across Canada, GWLRA has completed more than $6B in development projects and is currently managing a development pipeline of approximately $2B, representing projects that are actively under construction or in advanced planning.
We recently published an article that showcased GWLRA’s western development team and our projects underway to address the anticipated need for office space. Let’s take a look east, where our focus shifts to meeting the increased demand for high-end rental properties in major cities such as Toronto, Ottawa and Montreal.
As a multi-residential property management company, we manage an award-winning portfolio of rental apartment communities across Canada. Our buildings are well-located, spotlessly clean, environmentally efficient and we constantly strive to elevate the rental lifestyle experience for our residents.
In 2018 in Toronto, we opened the first of a new class of purpose-built rental properties. Dubbed The Livmore, this 43-storey, 595-unit development offered high-end amenities more common in ground-oriented homes such as a pet spa and dog run, an outdoor area to host friends for a barbecue, and even a grand room for a party or an extended family celebratory dinner, plus an exercise room. As a result, we set a new standard for apartment living in Toronto.
Encouraged by the success of this project, we launched our second Livmore in 2020 in Toronto, opening the doors to The Livmore High Park. Currently welcoming new residents, the project consists of two towers totalling 528 units. And we are extending the brand even further with active projects in Montreal, Mississauga and Ottawa. When complete, our new Livmore buildings will add more than 2,500 rental units with studio, one- two- and three-bedroom suites to these bustling city centres.
Our buildings are thoughtfully designed by top architects and interior designers and engineered and constructed to remain robust for decades. In addition, we believe each building should reflect the community it serves. That’s why we purposefully look to add unique amenities tailored to each marketplace. For example, the latest Livmore addition is located at 455 Rene Levesque in one of the most desirable parts of downtown Montreal. The first phase will feature a 35-storey residential rental tower including a seven-storey podium with 391 rental units and approximately 6,800 square feet of retail fronting Rene-Levesque Blvd. West and Rue De-Bleury. The podium will also serve the future 45-storey south tower with 429 additional units. Residents will be able to enjoy use of a co-working space during the day, visit the pool and sundeck after work and in the evening enjoy access to our wine cellar and a ‘secret room’ -- an exclusive, 1930s speakeasy-inspired private bar. It’s a small touch that sets us apart and reinforces the elevated brand experience we strive to deliver.
Ottawa is another market we are bullish on and a Livmore building is under construction in the city’s popular Westboro neighbourhood. The 26-storey tower will have 336 units with 9,000 square feet of amenity space, including a modern co-working space featuring designated desks, lounge, and access to board rooms for hosting meetings.
Mississauga is one of the fastest-growing cities in Canada and we’re bringing a similar elevated standard of rental living to its dynamic City Centre with a 35-storey, 365-suite building at 185 Enfield Place with excellent amenities and close to shopping, transit, services and entertainment. The building will feature a unique multi-purpose sports court for indoor activities like basketball, volleyball, etc., which quickly converts into a children’s play gym, a place for yoga or fitness classes, a venue for a music recital, or an open gym hangout for teens after school.
We anticipate demand for high-end rental properties to continue to grow as the economy recovers and the team is looking at other opportunities to expand the brand into different communities, all while delivering on the promise of allowing residents to do more by living in well-managed buildings in amenity-rich, centrally located areas.
GWL Realty Advisors Inc. is a leading North American real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. GWL Realty Advisors Inc. manages a diverse portfolio of office, industrial, retail and multi-residential assets as well as an active pipeline of new development projects.