Plaza on Yonge
Newtonbrook High-Rise Condominium Development
5858 Yonge Street, Toronto, Ontario
Total Units: 525
Equity Raised: $17,500,000
In May 2016, over 200 Cranson Capital Securities clients invested $17.5M in the 5888 Yonge Street Fund for the purpose of building a 29-storey condo development in the Yonge-Finch area with a targeted total return of 103%.
The development site is located in the Newtonbrook area at 5858 Yonge Street, with close access to Finch Subway Station, the 3rd busiest transit hub in the Greater Toronto Area. The development is also approximately 2km from North York Civic Center.
Construction is progressing on schedule. Initial occupancy is slated for Q4 2025, with full occupancy projected by Q2 2026. Consistent with the previous update, the Fund is projecting completion by Q4 2026.
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The area around Plaza on Yonge is rich in amenities, especially restaurants, cafes, and bakeries, with a focus on masterfully crafted Asian cuisine — from Korean, to Chinese, to Japanese, Persian, and Vietnamese. You’ll also find parks that are relaxing retreats, schools to gear up your children academically, and a range of grocery stores to suit your tastes.
Only a short walk south from Plaza on Yonge, Finch Station is a first-class mobility hub for the TTC and Go Transit, with connections to Brampton Transit and York Region Transit. The first southbound subway train leaves at 5:31 a.m., and this fastest way into downtown will get you to Union Station in just half an hour.
