Over the last decade, Elad Canada has established a reputation as a forward-thinking, reputable developer with transformative projects such as Emerald City in North York. Over the last 10 years, Elad has focused on development sites, and specializes in mid- and high-rise condominium development and master-planned communities.
In Montreal, its projects include the Nordelec building. Built in the early 1900’s, the Nordelec building is a mixed use historical building situated on a site of approximately 5 acres. The company converted the building to office space and award-winning residential lofts, integrated with new construction condominiums, while preserving key elements of the early 20th century architecture.
Another Elad Montreal project, Cité-Nature, is an impressive 11-acre mixed-use development that complements the stunning architecture of the adjacent Olympic Village pyramids, built to house athletes at the 1976 Olympic Games.
Emerald City project. (Courtesy of Elad Canada)The landmark project for Elad Canada in the GTA is Emerald City, which is a visionary master-planned community that is situated in the heart of North York, on an approximately 35-acre site. Located at the intersection of Don Mills Road and Sheppard Avenue, Emerald City is close to Fairview Mall and the Don Mills subway station. With highways 401, 404 and the Don Valley Parkway close by, Emerald City is conveniently located near commuter routes. The project was a catalyst in the revitalization of the Sheppard corridor and is an outstanding example of transit-centred intensification. Emerald City has been a flagship development, not just for the company, but for the entire North York community.
Emerald City’s Block A includes approximately 1,200 residential condos. Block B, which comprises of The Colours, Fifth on the Park and Park Club, includes 852 residential condos. Block C, which is now being sold, will have a planned 905 units. Construction activity has begun on Block C, which is good news for buyers. Emerald City contains retail services and Block C is anticipated to bring another approximately 40,000-square-feet of freehold retail space to the area. Every block has retail and services at grade level (such as a Tim Horton’s coffee shop and a dental office) and Block C will bring another 30,000-square-feet of retail space to the area.
“We focus on master-planned communities where we can access large parcels of land,” explains Dror Duchovny, Vice President of sales, marketing and asset management for Elad Canada. “We identify prime locations for multi-residential redevelopment, where the city will want rejuvenation and intensification, which are well served by transit. Emerald City is conveniently located near the subway, bus routes, Fairview Mall, schools, libraries, colleges, hospital and a community centre. For our homeowners is a great attribute to their purchase.”
Elad Canada takes its commitment to the larger community seriously and built a state-of-the-art community centre and pool for residents of Emerald City and adjacent Parkway Forest neighbourhood to use. One can also see the brightly coloured tall cones that comprise Douglas Copeland’s art installation, Four Season, at the southwest corner of Sheppard Ave. and Don Mills Road.
“We have developed long-term relationships in this area and have a vested interest in the community,” says Duchovny.
He says with every new phase, the company strives to improve on the last, by improving the quality of design, amenities and finishes, and staying up to date with the needs of buyers and the community. In an effort to better understand buyers’ needs, Elad Canada holds focus groups and takes feedback from its buyers seriously, along with keeping in tune with market trends.
Rendering of the Galleria is an artist impression only, subject to change without notice. (Courtesy of Elad Canada)For example, The Peak, which is located in the last Block of Emerald City, will incorporate a pet spa, an amenity that wasn’t relevant when the first building in the first Block was constructed, says Duchovny, as few residents then owned dogs. But with many more condo buyers owning pets, it is an amenity that residents have come to appreciate. Elad Canada recognizes the trend towards raising children in condominiums and incorporated a family play lounge as a condo amenity in the last Block.
“People really appreciate living in the city with all the conveniences and amenities close at hand,” says Duchovny. “The view of life in a condo has been changing. It used to be thought of as a stepping stone to a house, but now people are prepared to live their entire life in a condo.”
Elad Canada takes pride in the service it provides to its buyers.
“We try to make sure our customer care is top notch,” says Duchovny. “We have a lot of repeat buyers. We have families who bought two or three-bedroom condos, then might buy a one-bedroom or studio as their needs change. Some families buy for their children who are now adults and ready to move into their own place. We have many available options that we can accommodate first-time buyers, young families, or retirees.”
Elad Canada’s next Toronto project is the ambitious redevelopment of the 12-acre Galleria Shopping Centre site at Dupont and Dufferin Streets. Elad Canada and Freed Developments partnered to purchase the aging west end mall and the future project is envisioned as an innovative master-planned community, similar in scale to Emerald City.
The project is planned to include approximately 300,000 square feet of retail space and 2,850 residential units when completed about a decade from now. The development would also include one of the largest community centres in the city and a huge park, largely inaccessible at present.
“Everything you need for a vibrant community starts with the people living there,” says Duchovny.
With Elad Canada’s proven track record, there is little doubt that the Galleria project will be another successful master-planned development and a landmark in the neighbourhood.
“When it comes to building large-scale communities, we are leading the pack,” says Duchovny. “We see a lot of value in these communities for the buyer.”
Tracy Hanes is a GTA freelance writer specializing in real estate.
