Waterview Corporation, the owner of a ten-acre site on Humber Bay in Toronto, has entered into a joint venture with Monarch Lakeshore Development Limited, a wholly owned subsidiary of Monarch Construction Limited. The site is being developed for residential high-rise condominiums and related uses. The joint venture, through Monarch Waterview Development Limited, launched “Voyager at Waterview,” the first building in a proposed eight-phase high-rise condominium project to be known as “Waterview,” on April 18, 2001.
Waterview is one of Canada’s largest waterfront community developments and is expected to be completed over the next ten years. The joint venture plans to develop eight high-rise condominium buildings, with approximately 1,500 residential units, commercial space and related facilities on a phased basis, at an expected cost of over $300 million.
Robert Schwartz of Gardiner Roberts LLP negotiated the joint venture arrangements with Monarch on behalf of Waterview Corporation. David George, Senior Vice-President, Legal of Monarch, with the assistance of George Payne of McMillan Binch, negotiated on behalf of Monarch. McMillan Binch is acting in connection with condominium matters, with a team consisting of George Payne, David Slan and Mary Wilson. David George and Joyce Lee McKay, Associate General Counsel of Monarch, directed the McMillan Binch condominium team. Robert Schwartz continues to represent the interests of Waterview Corporation in all aspects of the development. Stephen Diamond and John Dawson of McCarthy Tétrault advise the joint venture on municipal matters.