GRAYWOOD DEVELOPMENTS AND HANKYU HANSHIN PROPERTIES EXPAND PARTNERSHIP WITH SECOND JOINT VENTURE -- A FLAGSHIP BUILD-TO-RENT PROJECT AT 241 CHURCH STREET IN DOWNTOWN TORONTO
TORONTO, Nov. 12, 2025 /CNW/ - Graywood Developments and Hankyu Hanshin Properties (HHP) are pleased to announce their second joint-venture development in the Greater Toronto Area with 241 Church Street, a 53-storey, 591-unit build-to-rent ("BTR") community located at the corner of Church and Dundas in the heart of downtown Toronto. The project marks the continued growth of the strategic partnership between Graywood and HHP following their successful collaboration with Claystone Condos, a residential community in Oakville, announced earlier this year.
Situated within the Toronto Metropolitan University campus and steps from Toronto's financial core, 241 Church offers a rare rental address that combines urban connectivity with thoughtful design. Construction commenced in 2024 and has progressed to ground level, with completion targeted for Q1-2028. The project will feature a mix of studio, one-, two-, and three-bedroom suites, as well as premium amenities including co-working lounges, fitness and wellness studios, an outdoor terrace, party and work rooms, and a dedicated dog run to enhance urban rental living.
Stephen Price, President & CEO of Graywood Developments, said: "Our partnership with Hankyu Hanshin Properties continues to strengthen. 241 Church is an exciting addition to our build-to-rent platform and reflects Graywood's commitment to delivering high-quality rental housing in core urban locations. With Toronto's strong rental fundamentals and the City's push for more rental supply, we see tremendous opportunity for continued growth in this sector."
Masahiko Toda, Director, Overseas Business Headquarters at Hankyu Hanshin Properties, added: "Following our successful first investment with Graywood in Oakville, we are delighted to embark on this second venture in downtown Toronto. This project demonstrates our long-term commitment to Canada and our belief in Toronto's vibrant rental housing market. Graywood's expertise and local insight have made them an ideal partner as we continue to expand our international portfolio."
Johann Rodrigues, Senior Vice President, Capital Markets at Colliers Canada, commented:
"Colliers is pleased to have supported Graywood and Hankyu Hanshin Properties on their second Canadian partnership. This transaction underscores the growing interest from Japanese institutional capital in Canadian real estate and reflects confidence in Toronto's long-term rental housing story. We look forward to seeing this project become a landmark in the downtown skyline."
Graywood Developments will serve as lead developer and constructor for 241 Church, with Hankyu Hanshin Properties as equity partner. The project continues Graywood's expanding focus on rental housing across the GTA and HHP's broader international growth strategy in major gateway cities.
About Graywood Developments
Graywood Developments is a Toronto-based private investment management firm focused on the development of build-to-sell and build-to-rent communities as well as commercial properties. During its 40-year history, Graywood has managed 56 projects, representing $9.7 billion in development value and 32,400 units across North America. Most currently, the firm has 12 active projects, which include 5,900 residential units (3,000 of which are rentals), representing $4.7 billion in development and an asset management portfolio valued at $1.6 billion.
About Hankyu Hanshin Properties
Hankyu Hanshin Properties is the real estate development arm of the Hankyu Hanshin Holdings Group, a leading Japanese conglomerate with over 100 years of history and diversified interests in railways, retail, hospitality, and urban development. Beyond Japan, Hankyu Hanshin Properties has expanded its business in Asia, Australia, and North America, utilizing the expertise and achievements gained from its operations in Japan. Since starting its overseas business in 2015, Hankyu Hanshin Properties has developed over 72,600 residential units, including those currently under development.
SOURCE Graywood Developments
For media inquiries: Stefano Toniutti, kg&a, [email protected], 647-202-1329
Share this article