Daily insights for city builders, delivered every morning at 6 AM ET. I’m Brandon Donnelly — a Toronto-based real estate developer and founder of Globizen. I’ve been writing here since 2013.

Tag: slate asset management

  • Canadian minimalism

    I have one more note to share this week about Junction House and then I promise we’ll be back to regular scheduled programming. Below is a copy of the press release that went out yesterday afternoon. It includes a few more renderings for the project.

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    October 11, 2018 (TORONTO) – After unveiling plans for a Studio Gang-designed tower at Yonge and St. Clair earlier in the summer, Slate Asset Management enters the fall market with a new mid-rise condo offering in the Junction. Designed by acclaimed Canadian architects, superkül, and emerging local interior design firm, Dialogue 38, Junction House further solidifies Slate’s approach of leading with design and city building when it comes to residential development.

    “We invest in designers because we believe in design innovation,” says Brandon Donnelly, VP of Development for Slate Asset Management. “For us, good design moves beyond aesthetics and actually solves problems and creates value for people. We want to empower each of our collaborators to come up with bold ideas, as well as think beyond our individual projects and consider the broader community.“

    Sited at 2720 Dundas St W, just as the road begins to bend, Junction House is conceived as a new gateway into one of Toronto’s most vibrant neighbourhoods. The ambitious design brief challenged superkül and Dialogue 38 to define a Canadian brand of minimalism that at the same time reflects the historic material palette and creative energy of the Junction community.

    “One of our inspirations was picking up on Scandinavian and Japanese approaches to minimalism, but through the lens of the Junction. What would that look like? How could we make sure our homegrown brand of minimalism is seen as approachable and in keeping with the neighbourhood?” says Donnelly. “We also really wanted to look at multi-storey suites – which eventually became The House Collection – and explore how we could replicate the single-family experience in a boutique mid-rise format,” he adds, citing the influx of families into the Junction and the need for new residential options in the city more broadly.

    “The building was designed from the inside out,” says Andre D’Elia, Principal at superkül. “We focused on the suites because, ultimately, that is where people are going to live and spend most of their time. We didn’t just design a nine-storey building, we designed 144 homes that occupy the same built form.”

    When it came to the exterior cladding, D’Elia says the focus was on reflecting the immediate context, while elaborating on the details. “We immediately thought of red brick, which is prevalent in the neighbourhood, and ended up cladding the first five storeys of the building with it. In order to add a sense of movement we staggered and angled the brick columns to play with light and shadow. We’re also introducing some old-world brick-coursing to add visual interest and mirror the local context.”

    Dialogue 38 was tapped for the interiors after Donnelly visited a café designed by the firm in the east end of downtown. “Their work is what motivated us to reach out, because it seemed to get the Canadian minimalist sensibility we were after,” explains Donnelly.

    Bennett Lo, Founder of Dialogue 38, says his approach was to focus on delivering design that would last. “We’re all influenced by trends and lifestyle, but our designs need to stand up against time. How do you produce something that is going to have immediate appeal and provide its own kind of interest, without feeling dated in a few years? The idea was to strip the design back and focus on the essentials, while at the same time incorporating aspects of the area. The suites and common areas will have smooth concrete ceilings and warm touches of wood throughout – and the lines are clean and open.”

    The nine-storey building will also feature an expansive lobby that doubles as a co-working space, as well as a gym that draws on the warm materials of the suites and common areas. Lo says the design of the amenity space is optimized to encourage active use. “We focused on the amenities that we know people use, and spent our energy crafting spaces that embody the spirit of the building. The benefit of a boutique mid-rise is the opportunity to extend your living space in to the amenity spaces, and provide moments of social engagement in the building.”

    “We’re a short walk to the UP Express station at Bloor, which can take you downtown in less than 10 minutes. That proximity gives us an opportunity to have a dialogue between the Junction and the rest of the city. The proposed sign marks the Junction’s location and lets you know where you’re going, but also, where you should be,” says Donnelly.

    Junction House offers 1, 2, and 3-bedroom suites, as well as its signature House Collection, ranging from 500 sq. ft. to over 1,500 sq. ft. and starting from the $400s. To register visit: JunctionHouse.ca

    Press Contact:

    Vakis Boutsalis, kg&a

    Vakis@kga-inc.com / 416 537 0954 / 416 578 1741

    About Slate Asset Management L.P.

    Slate Asset Management L.P. is a leading real estate investment platform with over $6.0 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm’s careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

  • Reintroducing Junction House

    Today we released the above rendering for Junction House and announced that sales will begin this fall.

    144 condominium homes. A mix of 1, 2 and 3 bedroom suites, including our Two-Storey House Collection and our Laneway House Collection. Prices starting in the $400s.

    One of our partners also happened to serendipitously send me this Globe & Mail article today talking about the increasing demand for and shortage of mid-rise housing:

    “The market is substantially undersupplied in mid-rise,” said Mr. Hildebrand, who notes that mid-rise projects in the GTA [Greater Toronto Area] were just 31 of 2017’s new launches, accounting for 3,833 units (12 per cent of the total).

    Stephen Price, CEO of Graywood Developments, went on to say this in the article:

    “There’s a huge appetite for medium density in Toronto. Many don’t want to live in the downtown core, this buyer is more interested in being in a community and there is a greater propensity to buy larger more livable units.”

    Given the huge influx of inquiries we received today after the above announcement was made, I would say that feels right. And our focus at Junction House is very much on “larger and more livable.”

    If you’re at all interested in a new home at Junction House, I would encourage you to get on our priority list, here.

  • Introducing Stephen Avenue Place

    Today, the Slate Canadian Real Estate Opportunity Fund I announced a new name for its 40 storey tower at 700 2nd Street in Calgary: Stephen Avenue Place

    It also announced that it has partnered with Oliver & Bonacini Hospitality and Concorde Entertainment Group to create three new dining destinations at the property: a top floor restaurant, a food hall, and a high-energy restaurant/bar/patio at street level.

    Here are a couple of excerpts from today’s press release:

    Stephen Avenue Place offers 620,000 square feet of rentable space at the nexus of the historic Stephen Avenue Walk and 2nd St. This classic of the Calgary skyline will undergo a significant renovation – from its public-access ground floor to exclusive tenant amenities and top-floor restaurant – that will reposition it as a modern hub for energy, innovation, business, dining and shopping.

    The acquisition and renovation of Stephen Avenue Place is part of Slate’s growing investment in Calgary. In the past 18 months, Slate has increased its footprint in Calgary to 2.3 million square feet with the purchase of 21 office properties, including 12 downtown.

    “We are thrilled to acquire and develop such a high-quality property in downtown Calgary that offers businesses, diners and shoppers the very best in location, amenities and access,” said Slate founding partner Blair Welch. “Stephen Avenue Place will undergo an extensive renovation to fully reflect the way we work and live now, while respecting and celebrating its history and future as a Calgary landmark.”

    For the full press release, click here. And to learn more about Stephen Avenue Place, including leasing opportunities, click here.

    Disclosure: As many of you already know, I work for Slate Asset Management L.P. I am responsible for the company’s ground-up development efforts.

  • Photogenic neon in the Junction

    We just finished putting up some additional signage at the future sales office for Junction House. Clean and minimal, but fun. I am pretty pumped with the way everything turned out. Creative and photos by Vanderbrand. Instagram story mashup and failed neon photo by me.

    This week I learned that properly photographing neon takes a bit of work. The neon “Junction House” sign is actually all white when you see it in person. Apparently it has something to do with the frequency. 

    I’m going to go back one evening with my tripod and Fuji and see if I can do better.

  • The Future of Hamilton

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    As many of you know, we have a development project in Hamilton, Ontario – more specifically in the Corktown neighborhood. We filed our development application earlier this summer.

    Because of this I was invited to participate in a Bisnow event on The Future of Hamilton. It takes place the morning of Wednesday, September 12, 2018 in The Alley by Core Urban. I walked this space last summer while it was under construction and so I’m excited to see it finished.

    For those of you who aren’t familiar with Core Urban, they are doing some really great work in Hamilton and have established themselves as a responsible city builder with a focus on adaptive reuse projects.

    Steve Kulakowsky, who is co-owner of Core Urban, will be speaking at the event along with the mayor, some guy who has pretentiously included his middle name, and many other smart people. To see the full list of speakers and to buy a ticket, click here.

    Photo of Hamilton by Vivek Trivedi on Unsplash

  • Studio Gang’s first project in Canada

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    This evening Slate Asset Management hosted the community meeting that I’ve been writing about on the blog over the last little while. 

    And at this open house Jeanne Gang of Studio Gang introduced a new block plan and mixed-use building at the southwest corner of Yonge Street and Delisle Avenue in midtown Toronto.

    I think it went really well. We had over 200 people RSVP, but based on my imprecise head count, over 300 people actually showed up. 

    I would tell you more right now, but it’s very late. So I’m going to instead leave you with this article by Alex Bozikovic, titled, Studio Gang’s new Toronto tower follows the right recipe: tall, innovative and excellent.

  • Introducing the new Corktown Plaza

    This evening Slate hosted a pre-application community meeting in Corktown, Hamilton, where we presented our proposed design for the redevelopment of Corktown Plaza

    There was a short presentation by Slate, GSP Group, CORE Architects, and Janet Rosenberg and Studio, and then we shifted to an open house format where members of the community could speak directly with all members of the project team.

    Below are a few of the project renderings, all completed by our friends at ADHOC Studio

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    The proposed design includes fine grain and large format retail spaces and a 9.5m pedestrian setback along John Street South (rendering #2 and #3); grade-related family-oriented townhouses on Young Street and Catharine Street South (rendering #4); and two 100% rental towers (31 and 34 storeys) to be built over two phases.

    The other notable feature is a mid-block pedestrian connection that will run from John to Catharine and become an important place for local public art. The plan is to work with the community and Councillor Jason Farr to run a separate engagement process for this component of the project. We want to work with local artists. If you have any suggestions, please send them over.

    Here, here, and here are what some people had to say about the proposal on Twitter. Thanks to everyone who attended this evening.

  • IBI launches Smart City Sandbox

    This morning I was at 55 St. Clair Avenue West for IBI Group’s annual general meeting. And at this meeting their CEO, Scott Stewart, officially launched a new accelerator called the Smart City Sandbox

    Here is a description of what that is taken from a press release that was also published this morning:

    The Sandbox is a smart city-themed accelerator, focused on bringing innovative new products and systems to urban environments that improve the quality of life for residents. A technology hub that supports small-and medium-sized enterprises (SMEs), as well as entrepreneurs and start-ups, the Smart City Sandbox will operate out of a designated space at IBI Group’s Toronto headquarters, be open to global applications, and officially open doors with its first smart city-themed cohort in September 2018.

    And here is a photo from this morning:

    Slate Asset Management is proud to be a founding partner of the Smart City Sandbox and we’re thrilled that it will live at Yonge + St. Clair in midtown Toronto. 

    Our role is to provide our domain expertise as asset managers and developers, and to offer participants in the program access to real-world building systems and data from our holdings in the area.

    For more info, go here.

    And if you were at (or listening to) the meeting this morning, I’m sure you noticed something that we talk a lot about on this blog. To thrive today, virtually every company now has to think and act like a technology company. IBI Group is doing precisely that.

  • Slate closes on $1.14 billion asset portfolio

    Today, the Slate Canadian Real Estate Opportunity Fund I closed on a 6.2 million square foot portfolio that it previously announced it was acquiring from Cominar Real Estate Investment Trust for approximately $1.14 billion.  

    The portfolio includes office, retail, and industrial properties in the GTA, Atlantic Canada, and Western Canada. This brings Slate Asset Management’s total assets under management to over $5 billion.

    Great work team Slate.

  • Introducing Junction House

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    Earlier this week I posted this teaser photo on social (full photo above) and said to stay tuned for a big announcement. Well, that announcement is here and you can read all about it over on the Globizen blog. Please let me know what you think in the comment section below.