Greybrook Realty Partners Inc. and Tribute Communities are teaming up on a luxury high-rise condo development in the Bloor-Yorkville area of Toronto.

The investment into five separate properties located at 148, 152, and 156 Avenue Road, and 224 and 234 Davenport Avenue, will be transformed into 380 residential units and more than 6,000 square feet of commercial space at grade.

Located at the northwest corner of Avenue Road and Davenport Road, the site is close to four different TTC subway stations and other commonly desired amenities. Also nearby is the University of Toronto’s St. George campus, the Royal Ontario Museum, the Telus Centre for Performance and Learning and a number of galleries.

The property is one of several sites in the Bloor-Yorkville area in which Greybrook is actively developing, including the “Vertical Forest,” a residential development at Davenport Road and Bedford Road, which is intended to support more than 350 tall trees on the exterior balconies of the building, and a 29-storey mixed-use condo building that will transform the corner of Yorkville Avenue and Avenue Road.

“Residential development sites such as this site have become much harder to find in the City of Toronto, particularly in the best neighbourhoods in the City, said Peter Politis, CEO, Greybrook Realty Partners. “With the federal government’s planned increase in immigration over the next three years, Toronto will need new housing to support the growing population and transit-oriented developments such as this site will be in high demand.”