InnoDev Vaughan Road LP
Purpose Built Rental Development
146-150 Vaughan Road, Toronto, Ontario
Gross floor area: 111,684 Sq. Ft.
Units: 110 (including one ground-floor retail unit)
Maximum offering: $10M
Estimated completion value: $70.9M
The InnoDev Vaughan Road Limited Partnership is a purpose-built rental (PBR) development located in the Humewood–Cedarvale neighbourhood of Toronto. The project has evolved from its original 12-storey, 93-unit proposal into a 16-storey midrise building with 109 residential units and one ground-floor retail unit, supported by sustainable construction methods including geothermal heating and exclusive car-share amenities for tenants.
With a 96 walk score and excellent access to transit—including St. Clair West Station just a 10-minute walk away—the site is positioned to benefit from the supportive planning policy under the Raglan–Vaughan Road Secondary Plan.
This project is part of the Cranson Capital Purpose-Built Rental Fund. For more information about this investment opportunity, please contact your Cranson Capital securities dealing representative.
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Financial Incentives
CMHC offers financing of up to 95% of total project costs, significantly reducing the required equity capital. This structure enhances potential project returns and improves capital efficiency for investors.
Resilience in Volatile Markets
Unlike condos, PBR projects are not reliant on individual buyers or market speculation. They are held and operated as income-generating assets, offering greater protection during economic downturns or real estate market corrections.
Professional Ownership and Management
PBR buildings are typically managed by experienced operators focused on tenant retention, operational efficiency, and long-term value creation.
Diversified Portfolio
Investments are spread across 4 developments reducing risk while enhancing potential returns.
Experienced Developers with a Proven Track Record
InnoDev Partners specializes in sustainable, integrated urban development with a focus on medium-density housing that addresses both affordability and environmental concerns. Their projects prioritize walkability and are strategically located near transit, retail, parks, and schools—enhancing livability and accessibility for residents. By concentrating on “missing middle” housing, InnoDev helps fill a critical gap in the urban housing market, delivering diverse and inclusive communities designed to support long-term growth. Their commitment to innovation and thoughtful design fosters a strong sense of place while contributing to more sustainable and resilient cities.
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Located in a vibrant and well-connected neighbourhood, the site is surrounded by low-rise single detached homes to the west and a mix of mid-rise apartment buildings to the north, south, and east. It is just a 10-minute walk to St. Clair West Subway Station—with improved access planned via the new Heath Street entrance—and a 5-minute walk to Cedarvale Park and the Beltline Trail. Everyday conveniences are also nearby, with grocery stores, pharmacies, restaurants, and retail just steps away along St. Clair Avenue. The site falls within the Raglan–Vaughan Road Secondary Plan, which promotes mixed-use development and enhanced transit connectivity to foster a more walkable, pedestrian-friendly community. The area boasts an impressive walk score of 94.