GRAYWOOD DEVELOPMENTS AND PHANTOM DEVELOPMENTS BREAK GROUND ON 55-STOREY RENTAL BUILDING IN VAUGHAN
Project will deliver 617 build-to-rent units to Vaughan Metropolitan Centre
VAUGHAN, ON, Nov. 24, 2025 /CNW/ - Graywood Developments and Phantom Developments broke ground last week on a 55-storey build-to-rent residence at 3201 Highway 7 in Vaughan. Representatives from both companies were joined by Vaughan Mayor Steven Del Duca and Vaughan Ward 4 Councillor Chris Ainsworth at the ceremonial groundbreaking.
"I am happy to be here with members from Graywood Developments and Phantom Developments as we continue to deliver vital housing supply to the City of Vaughan", said Steven Del Duca, Mayor of Vaughan. "Projects like 3201 Highway 7 are critical to ensuring healthy, diverse housing options for the residents of Vaughan and I look forward to the continued development of the VMC."
3201 Highway 7 is the second partnership between Graywood and Phantom, who are the partner developers of the recently completed JAC Condos in downtown Toronto. The 55-storey Vaughan project will house 617 rental units, comprised of studios, one-bedroom, two-bedroom and three-bedroom suites along with numerous amenities, including a gym, party room, swimming pool, co-working space, an outdoor terrace and a dog run. The site's location is a 5-minute walk to the Vaughan Metropolitan Centre (VMC) Subway with quick access to Highway 400 & 407 and an abundance of amenities within walking distance.
"3201 Highway 7 fits everything we look for when assessing a development project: premium location, great access to transit and a wealth of amenities for our future residents to enjoy", commented Stephen Price, President and CEO, Graywood Developments. "Downtown Vaughan is in the midst of a generational transformation, and we are excited to deliver this project to the vibrant and diverse community".
The building will be the first in a three-tower master plan, designed by Arcadis. Once completed, the community will add 1,700 units to the VMC.
The vision for the VMC is to build a transit-oriented downtown with unique residential, office and mixed-use districts linked by a network of parks, squares and open spaces and a fine grain street grid. The City of Vaughan has targets of 12,000 residential units, 1.5 million square feet of commercial office space, and 750,000 square feet of new retail space by 2031.
"We are excited to be starting construction on this three-tower masterplan which will deliver quality housing options to the community", said Stanton Strasser of Phantom Developments. "After a successful partnership on JAC Condos, we are excited to work together and continue to shape the future of Vaughan through this project".
More details about the additional two towers will be released at a later date.
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 $9.2 billion in development value and 31,900 units across North America. Most currently, the firm has 10 active projects, which include 4,266 residential units (2,600 of which are rentals), representing $3.7 billion in development and an asset management portfolio valued at $1.6 billion.
About Phantom Developments
As visionaries in thoughtful urban development, the company leads with integrity, innovation and a personal commitment to the highest quality design practices. For over 50 years, Phantom has played a key role in numerous prestigious projects in the Greater Toronto Area contributing to help define the city's vital communities with exceptional building designs. The company takes great pride in securing select locations with the utmost attention to shaping beautiful environments inside and out to complement modern urban lifestyles.
SOURCE Graywood Developments & Phantom Developments
For additional information, please contact publicists: kg&a inc., Stefano Toniutti, [email protected], m: 647-202-1329
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