Plaza Land Fund

15 Gervais Drive, 195 St. Clair West* & 307 Lakeshore Boulevard
Toronto, Ontario

Toronto Multi-Development Rezoning Project

A multi-story office building with glass windows and black exterior, surrounded by a parking lot and green grass, under a clear blue sky.

A brick apartment building viewed from the front, with trees and bushes in the yard.

A modern high-rise building with an architectural design featuring large circular and arch-shaped openings on its facade, supported by white pillars with trees and people walking around it.

Info

Total Properties: 3

Equity Raised: $20 M

In March of 2017, Cranson Capital raised and invested $20 million for the Plaza Land Fund (“The Fund”), a portfolio of future development sites in urban areas of Toronto managed by Plaza Partners. The funds were raised from over 200 accredited investors to acquire 3 income producing properties: an office building at Don Mills and Eglinton (next to the future LRT station), a commercial building at Queen’s Quay and Parliament (part of the Waterfront Toronto Revitalization Plan) and a small residential building on St. Clair, west of Avenue Road (Forest Hill).

Since the initial investment, the property at 307 Lakeshore has completed pre-application planning with the City and Waterfront Toronto, on target to submit a development application in April 2022. In 2020, the site at 15 Gervais Street submitted a request through the City of Toronto to amend the land use from Employment Area to Mixed-Use, which continues to progress towards the goal of redevelopment.

*195 St. Clair West was sold as part of an assembly with the 5 neighbouring properties for redevelopment in December of 2019. Total return from the property sale was 114%, translating to a 28% return for investors.