STAFFORD AND DBS DEVELOPMENTS ANNOUNCE STRATEGIC PARTNERSHIP TO DELIVER PURPOSE-BUILT RENTAL TOWER TO TORONTO'S YONGE AND SHEPPARD COMMUNITY

New Partnership Brings Together Two Established GTA Development Companies at One of Toronto's Most Transit-Connected Addresses

TORONTO, June 2, 2026 /CNW/ - Two of the Greater Toronto Area's most established residential development companies, Stafford and DBS Developments, today announced a strategic partnership to deliver a best-in-class purpose-built rental tower at 11-21 Johnston Avenue in Toronto's Yonge and Sheppard neighbourhood. The announcement marks the first collaboration between the two companies, and both have indicated it will not be their last.

11-21 Johnston Avenue

The site at 11-21 Johnston Avenue sits approximately 130 metres from the nearest entrance to Sheppard-Yonge Station, a 1.5 to 2-minute walk connecting future residents to both the Yonge-University and Sheppard subway lines. With a Walk Score of 98, the address sits within one of the city's most consistently in-demand rental markets, anchored by its proximity to a major employment and transit hub.

The site also offers convenient access to Highway 401 and exceptional walkability to the neighbourhood's extensive amenities off Yonge Street, including grocery stores, shopping, restaurants, performing arts venues, movie theatres, and everyday services. Residents will also be moments from Mel Lastman Square, home to premier festivals and community events, as well as a popular outdoor public gathering space and seasonal skating rink.

The partnership brings together two organizations whose strengths are genuinely complementary. Stafford, one of the GTA's most established residential developers, brings more than 60 years of experience delivering residential communities across the Greater Toronto Area, a vertically integrated platform encompassing development, construction management, and long-term investment, and a design-driven track record of identifying and executing on high-quality urban sites. DBS Developments, a family-founded and fully-integrated development company with over six decades of history across the Greater Toronto Area, brings a depth of expertise in project design, construction, and the long-term operation of residential communities, including a growing portfolio of newly built, Class A purpose-built rental buildings, through its DBS Communities management platform.

"Stafford is incredibly excited to be partnering with DBS Developments at this opportune time to build this amazing new community on Johnston Avenue. Yonge and Sheppard is one of the most underserved rental nodes in the city which paired with the strong rental demand in this area makes this the exact type of development the city needs. Our collaboration with DBS brings together our complementary development and construction expertise, alongside DBS' vast experience with owning and managing some of the most beloved rental residences across the city. This is the first of several projects we are moving forward on together. We love this city, we believe in this opportunity, and we are proud to have the vision and the courage to act on both," said Jonathan Goldman, President of Stafford.

For DBS Developments, the partnership represents a natural extension of its commitment to delivering residential communities such as Bela Square in East Danforth and 2Fifteen in Forest Hill where the resident experience is treated as a product in its own right. Rooted in a hospitality-influenced approach to property management that prioritizes curated resident experiences, quality materials, and long-term community building, DBS will bring that philosophy to Johnston Avenue from the design stage through to day-to-day operations under its DBS Communities platform.

"We are thrilled to be partnering with Stafford on what will become a landmark purpose-built rental community for this neighbourhood and for the city," said Bryan Levy, CEO of DBS Developments. "Stafford has built an exceptional reputation for delivering thoughtful, beautifully executed projects across Toronto, and there is a strong natural alignment between our organizations in how we approach development, construction, and the resident experience. As demand for professionally managed rental housing continues to grow, it is increasingly important for experienced developers and operators to deliver projects that are built for the long term. Together, we're excited to bring a world-class rental community to one of Toronto's most connected neighbourhoods, where demand for high-quality rental housing remains strong."

Based on the development application submitted earlier this year, the project proposes 524 rental units totalling approximately 350,709 square feet of residential space across a multi-property assembly, designed by Turner Fleischer Architects with planning guidance from Goldberg Planning Group.

The Johnston Avenue development will be the first co-venture between Stafford and DBS Developments, as part of a longer-term development partnership between the two companies.

About Stafford

Stafford is a fully diversified private real estate development, construction, and asset management company with more than 60 years of experience across Canada and the United States. The company's vertically integrated platform spans land development, construction management, property management, and long-term investment, with an active portfolio across residential, commercial, retail, and mixed-use asset classes.

Stafford develops and manages a broad range of asset types, from purpose-built rental and high-rise residential communities to commercial and retail development and operations. Recognized as one of the GTA's most experienced and multi-disciplined real estate organizations, the company is guided by a commitment to disciplined development, rigorous asset stewardship, and the creation of lasting value across every project it undertakes.

For more information, visit www.stafford.ca

About DBS Developments

DBS Developments functions as a fully integrated real estate development company specializing in designing, developing, constructing, and professionally managing condominium residences and purpose-built rental properties. Named after founder David Bela Salomon, DBS brings its communities to new heights, working hand-in-hand with its in-house property management team to handle all aspects of property operations to deliver exceptional customer service to residents. With over 60 years and three generations of development and management experience, DBS Developments set out to create a new standard for residential communities and has assembled an unparalleled team to bring their vision together. 

For more information, visit www.dbsdevelopments.ca

SOURCE Stafford and DBS Developments

Media Contact: Victoria Baker, [email protected]