Canderel Stoneridge Launches AURA; Canada's Largest Condo Tower



    City's First Ever International Architectural Peer Review Process Helps
    Shape Design of Landmark 75 Storey, 243m Tower

    TORONTO, Nov. 16 /CNW/ - Canderel Stoneridge Equity Group, a leading
condominium developer in the GTA, announced details of Canada's largest new
condominium tower called AURA, at a media conference held today in Toronto.
Currently designed to stand 243 meters and 75 storeys tall, today's
announcement signified the resolution of a process between the developer,
local politicians and city staff which saw the building's design subjected to
Toronto's first ever, international architectural peer review process.
    "This is a signature intersection for the City, that demanded a signature
development," says Canderel Stoneridge Equity Group's President Michael La
Brier. "As such, both on our own and in cooperation with Councillor Kyle Rae
and the City of Toronto, we sought out independent design reviews by some of
North America's leading architects. With only minor revisions, these
independent review panels fully endorsed our project, its architecture and its
magnitude."
    Designed by the Canadian firm of Graziani + Corazza Architects, Canderel
Stoneridge, in August 2006, initiated an independent architectural review of
AURA to support their proposed design. A review was conducted by the
celebrated architects Eberhard Zeidler of Zeidler Parntership Architects and
René Menkès of Menkès Shooner Dagenais Letourneux Architectes, who endorsed
the project.
    Following their positive report, the City of Toronto then requested a
further independent review and KPMB's Bruce Kuwabara, along with American
architects Jon Pickard from Pickard Chilton and Josh Chaiken of Kohn Pedersen
Fox Architects joined Zeidler and Menkès for an additional review. Echoing the
results of the first review, this panel again reported favourably on Canderel
Stoneridge's proposed designs.
    "The independent review was an important step and served to echo our long
held belief that this was the right architecture at the right location," says
Barry Graziani, of Graziani + Corazza Architects. "We encouraged the developer
to challenge themselves, and our firm, by subjecting our vision to the most
stringent evaluation possible - by some of the best minds in the business. The
resulting recommendations made by our esteemed colleagues, particularly in
terms of the manner in which the podium meets the street, were welcomed and
have made for an even better design."
    Michael La Brier says that the panel first and foremost supported
Canderel Stoneridge's belief that this was the most suitable site for
Toronto's largest condominium tower, adding that "the panel endorsed our
designs and requested limited architectural changes which will undoubtedly
make a great project even better. The panel's focus was on the use and
application of materials to ensure the reality of the picture. They shared our
belief that there can be no shortcuts in a project of this nature."
    According to La Brier, however, the greatest impact of the review process
may be felt not on the project itself, but in its implications for the city,
noting that the process, "which we entered into willingly, should serve as a
model for the City in all its future high profile, high impact projects. With
a proviso to market conditions, Toronto must continue to demand more of its
developers and their designs, and it must subject them to the unassailable
scrutiny of an independent review panel as a basic part of doing business."
    As Canada's largest single condominium tower, AURA will boast
1.3 million sq. ft., with 1.1 million of that devoted exclusively to
residential space. The development will also include 190,000 sq. ft. of prime
retail space at the podium level, plus additional recreational spaces. The
development is located at the corner of Yonge and Gerrard, adjacent to College
Park, and will mark Canderel Stoneridge's third residential condominium
building at the site, following the award-winning Residences of College Park I
and II.
    The company expects sales at AURA to begin in early 2008, but
pre-registrations are currently being accepted at www.collegeparkcondos.com

    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/





For further information:

For further information: News Media Contact: Danny Roth, Brandon
Communications Inc., T: (416) 850-0614, C: (416) 414-9064, E:
droth@brandoncom.ca

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CANDEREL STONERIDGE EQUITY GROUP

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