New Condominium Tower at Toronto\'s CityPlace

Concord Adex Development Corp. (Concord) is developing the CityPlace complex next to SkyDome on the Toronto Railway Lands. It is presently constructing its first four condominium towers east of Spadina on Front Street and is breaking ground for its fifth tower. To accommodate the new tower, Concord purchased an additional development block from Canada Lands Company CLC Limited (CLC) from which it purchased its other development sites. Concord also reconveyed to CLC a site west of Spadina. The transaction involved amendments to the zoning of the new site, changes to municipal documentation, amendments to the existing participation mortgage and to a mirade of other documents. Complicating the transaction was the need to allow the continued access to CLC’s adjoining parking garage, which is accessed over the development site.

Fraser Milner Casgrain LLP’s Paul Ginou, Ronald Matheson, Jillian Shortt and Andrea Centa provided advice to CLC. The Aird & Berlis team acting for Concord included Edmund Smith and Randy Hooke on the real estate side. Leo Longo and Kim Kovar obtained the required municipal approvals for Concord.