Concord Adex unveils plans for Concord Park Place - North York's largest condominium development

    Master planned community invests $2 billion in the area

    NORTH YORK, ON, May 14 /CNW/ - Concord Adex Developments Corp., today
unveiled the plans for Concord Park Place, North York's largest ever
condominium development. Based on their award-winning master planned
communities, Concord Adex outlined plans for the first phase of Concord Park
Place's $2 billion redevelopment of 42 acres of prime land located between
Bessarion and Leslie subway stations on Sheppard Avenue.
    "Concord Park Place is a fitting name for our vision of revitalizing this
part of North York. The name encapsulates the connected community which aims
to create a lasting legacy for residents and the local community alike," says
Terry Hui, Chief Executive Officer, Concord Adex Developments Corporation.
"This first phase will showcase Concord Adex's ability to create a highly
livable and vibrant environment where residents will be able to interact with
their community and neighbours while taking advantage of everything that the
City of Toronto has to offer."
    Concord Adex's connected community initiative includes building a
community centre, daycare facilities, a range of retail stores and an
eight-acre park designed to be an urban oasis. With construction starting in
summer 2007, Concord Park Place will take approximately 10 years to complete
and the finished community will feature a mix of high- and low-rise buildings
with more than four million square feet of living space.

    Involving the Community

    To ensure the name reflected the North York community, Concord Adex asked
local residents to participate in a naming contest in March. More than 1,000
people entered their name suggestions and a judging panel of North York
dignitaries selected the final winner. The contest winner, Toni McDeremott,
took home a $10,000 grand prize of a Samsung home entertainment package.
    In addition, local North York artist, Stephen Cruise, who has been
commissioned to design The Trudeau Memorial, is working with Grade 2 students
from Elkhorn Public School to create a mosaic piece for one of Concord Park
Place's buildings.
    "This is an exciting first step which is modeled on our highly successful
Toronto CityPlace and Vancouver Concord Pacific Place communities," adds Hui.
"Concord Park Place will be a community that offers a sustainable lifestyle
welcomed by young professionals, families and seniors."

    About Concord Adex

    Concord Adex Developments Corp. is a member of Concord Pacific Group
Inc., a leading developer of urban, master planned residential neighbourhoods.
The company, with headquarters in Vancouver, was founded in 1987 and builds
complete communities that create long-term value for residents.

For further information:

For further information: Tina Quelch, For Concord Adex, (416) 925-6034,

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