King Charlotte Condominium Successfully Registers, Announces Fortress Real Developments

TORONTO, Nov. 2, 2016 /CNW/ - Fortress Real Developments (Fortress) and Lamb Development Corporation (LDC) are pleased to report that King Charlotte has been registered by the City of Toronto, the new condo corporation is TSCC 2546. The building was occupied towards the end of 2015 and is currently 99% sold.

King Charlotte is located in the heart of Toronto's King West (Entertainment) district. The 9,646 sf mid-block site at 11 Charlotte Street was designed by Peter Clewes of Architect Alliance, with interiors programmed by II by IV Design. A successful sales launch in 2011 led to a fall 2012 construction start, and occupancies began in late 2015.

"King Charlotte is a stunning addition to the Entertainment District and is a testament to doing real estate right. We purchased the site well and the design was inspired by the tight restrictions of the site," said Jawad Rathore, President & CEO of Fortress Real Developments. "The location and design made this project highly desirable, to the point, several Toronto sports personalities have chosen to call King Charlotte home."

The building closing dates are set for later this month and all lenders into the project are expected to be paid out by the first week of December. Lamb Development Corp. President, Brad J. Lamb offered, "We are thrilled that the building is finally registered. This 32-storey tower with 232 units is a statement building offering high end finishes, a plethora of amenities and everything expected when you buy in an LDC development."

Lamb Development Corp. and Fortress Real Developments have partnered on 13 projects together in Ontario and Alberta. Four projects have been completed (three fully occupied), three projects are currently under construction and four are expected to start construction next year. In the past 12 months, 788 residential units have been occupied in Fortress projects in Ontario.

About The Companies

Fortress Real Developments Inc. is a Canadian real estate development company that seeks out and analyzes real estate development opportunities in major Canadian markets. The company is focused on quality projects with recognizable alpha in residential low-rise, high-rise, commercial and industrial market segments. For more information visit: http://fortressrealdevelopments.com

Lamb Development Corp., founded in 2001 by Toronto's top condominium broker Brad J. Lamb, has become one of the country's busiest development companies, with each project pioneering up-and-coming locations and delivering a stylish, urban solution to each property. Completed projects in Toronto are some of the hippest, most contemporary buildings in the city. For more information visit: http://lambdevcorp.com

SOURCE Fortress Real Developments

Image with caption: "King Charlotte condominium in downtown Toronto (CNW Group/Fortress Real Developments)". Image available at: http://photos.newswire.ca/images/download/20161102_C4889_PHOTO_EN_810075.jpg

For further information: Natasha Alibhai, Fortress Real Developments Inc., natasha@Fortressrdi.com, Phone: (905) 787-9266 ext. 235

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www.fortressrealdevelopments.com

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