Two Proposed Housing Projects by Fortress Real Developments Receive OMB Approval

TORONTO, Dec. 19, 2016 /CNW/ - Fortress Real Developments (Fortress) is pleased to announce approvals were granted on two future residential housing developments by the Ontario Municipal Board (OMB).

Lamb Development Corporation (LDC), Hyde Park Homes (Hyde Park) and Fortress have partnered on a condominium apartment development located at 53, 61 and 65 Ontario Street and 102 Berkley Street in the City of Toronto. The proposed development is being marketed and sold as East Fifty Five, a 25-storey, 276 unit high-rise building designed by Peter Clewes of ArchitectsAlliance. On November 24, 2016, the OMB approved the Zoning By-Law Amendment and granted Site Plan Approval, subject to the approval conditions.

Given the substantial sales to date, LDC, Hyde Park and Fortress are looking to start construction on this modern condominium project in early 2017.

Tercot Communities, Cityzen Developments and Fortress have partnered on a ground-oriented housing development located at 13735 Highway 27 in the community of Nobleton in the Township of King. The 52 acre property will include 34 net developable acres, the plans call for 150 single-detached homes with an average size of 3,500 square feet. In November 2016, the OMB concluded that the lands provide for a reasonable, logical and suitable expansion of the urban area boundary for greenfield development within Nobleton.

"The approval of these two projects is a testament to the experience of our in-house planning and stakeholder management team, and the vision and persistence of our development partners. This is just the first step in delivering high-quality housing to over 400 future GTA homebuyers" added Fortress Real Developments COO Vince Petrozza.

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. is a high-rise condominium developer. For more information on LDC projects, visit: http://www.lambdevcorp.com

Hyde Park Homes Group is a real estate investment, development and construction company, go to http://hydeparkhomes.com for more information.

Tercot Communities is a builder and developer of single-family housing communities, visit http://tercot.com for more information on future developments.

Cityzen Developments is one of the GTA's most recognizable builders of urban communities, learn about them at http://blog.mycondomylife.com

SOURCE Fortress Real Developments

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

RELATED LINKS
www.fortressrealdevelopments.com

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