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Dream, Kilmer and Tricon Capital Group Announce a Partnership to Develop 1,500 Purpose-Built Rental Units in Toronto's West Don Lands Region as Part of the Provincial Government's Fair Housing Plan
Dream, Kilmer and Tricon Capital Group Announce a Partnership to Develop 1,500 Purpose-Bui...
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[{"type":"text","content":"\n\n\n\nDream, Kilmer and Tricon Capital Group Announce a Partnership to Develop 1,500 Purpose-Built Rental Units in Toronto's West Don Lands Region as Part of the Provincial Government's Fair Housing Plan\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 27, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES./  \n\n\n\nTORONTO, April 27, 2018 /CNW/ - Dream Unlimited Corp. (TSX: DRM) (TSX:DRM.PR.A) and Dream Hard Asset Alternatives Trust (TSX: DRA.UN) (together, \"Dream\"),  Kilmer, and Tricon Capital Group Inc. (TSX: TCN) and Tricon Lifestyle Rentals (together, \"Tricon\") are pleased to announce that they have formed a partnership (the \"Partnership\") to develop and manage a new residential rental apartment community in Toronto's West Don Lands region. The Partnership has been selected through a marketed offering to enter into 99-year land leases with Infrastructure Ontario, on behalf of the Ministry of Infrastructure, for land parcels that will be developed into approximately 1,500 rental units as well as ancillary retail and potential office space. Dream, Kilmer and Tricon hold an equal ownership share of the Partnership.  \n\nThe subject lands are comprised of five development sites in the West Don Lands totaling nine acres surrounding the intersection of Cherry and Mill Streets in Toronto's burgeoning downtown east district. The lands are located in close proximity to the Distillery District, Canary District and Waterfront Toronto's Quayside, Google's 13-acre Sidewalk Labs neighbourhood, forming an integral part of the ongoing revitalization and transformation of the east end. \n\nThe proposal, comprehensive of all five blocks, is expected to be built in stages and include a total of approximately 1,500 purpose-built residential units, 30% of which will satisfy the Province's affordability requirement and 70% of which will be rented upon completion at market rates, as well as up to 75,000 square feet of retail amenity space and an ...