Developers Convert Toronto Luxury Condo Project to 230-Unit Rental Tower
Stafford and DBS Developments have pivoted a Forest Hill property from an ultra-luxury condominium project to a 27-storey purpose-built rental development with over 230 units. The redesigned project emphasizes two and three-bedroom apartments, with many exceeding 1,500 square feet and no studio units included. The development has received Committee of Adjustment approval and is nearing final site plan approval.
The shift from condominium to rental reflects broader market dynamics in Toronto's residential sector. Originally conceived as a 48-unit luxury condo offering with average suite sizes exceeding 3,000 square feet, the project attracted limited buyer interest, with only six sales recorded through 2025. The redesigned approach prioritizes family-sized rentals, concentrating on two and three-bedroom units that often exceed 1,500 square feet, eliminating smaller studio options entirely.
The 27-storey development represents a significant intensification of the Forest Hill site, which previously operated as a six-storey long-term care facility. The architectural reconfiguration, featuring a nine-storey podium base with an 18-storey tower designed by BDP Quadrangle, is progressing through municipal approvals and nearing completion of site plan requirements.
This conversion may signal changing investor confidence in luxury condo markets relative to purpose-built rental housing. The project's emphasis on larger rental units could potentially address Toronto demand for family-sized apartments, though it removes ownership opportunities at the luxury end of the market. For prospective renters, increased supply of two and three-bedroom units in Forest Hill may offer more housing options, though affordability relative to asking rents remains unclear. The development's progression could influence how other stalled luxury projects are repositioned.