ALTERRA, DBS AND PLATINUM VISTA COLLABORATE TO UNVEIL NEW RESIDENTIAL DEVELOPMENT

TORONTO, Aug. 1, 2023 /CNW/ - Alterra Group of Companies, DBS Developments and Platinum Vista are delighted to announce their joint venture located at 566-576 Sherbourne Street and 29-37 Linden Street. This momentous collaboration showcases a new relationship forming strategic alliances with like-minded development companies.

Alterra President Stuart Wilson expressed his enthusiasm about the partnership stating, "We are thrilled to embark on this exciting journey with DBS Developments and Platinum Vista." Alterra CEO Rob Cooper added, "Collaborating with new partners is a crucial aspect of Alterra's growth strategy, and we are confident that this alliance will create remarkable urban living spaces."

The site's exceptional location and unparalleled potential captivated the attention of all three partners. The project's current site consists of an assembly of ten houses nestled on a leafy downtown street. The exceptional surroundings and unique neighbourhood charm make this development ideal for developing high-quality housing during the city's housing crisis.

"The development presents an incredible opportunity for creating new homes," emphasized Josh Shteiman, VP - Development Operations, Platinum Vista. "The location, combined with our shared expertise, will make a remarkable addition to the cityscape. We believe this project will create a lasting impact and contribute to the vibrant growth of the community."

To bring the development to life, Alterra, DBS Developments, and Platinum Vista have entrusted the design team at Arcadis IBI Group. Currently in the planning and design stage, the project includes a heritage component that pays homage to the area's historical significance. The integration of heritage showcases the partners' shared commitment to preserving Toronto's existing urban fabric.

The proposed multi-residential tower will stand an impressive 59 stories high and offer over 700 suites, ranging from studio's to spacious three-bedroom residences. The thoughtfully designed living spaces will provide residents with the utmost comfort and modern conveniences. The development showcases the meticulous planning and thoughtful design brought forward by the partners.

Beyond creating exceptional living spaces, this development aims to play a significant role in the neighbourhood's ongoing transformation. The area surrounding the project is currently transitioning, and the partners intend to breathe new life into this previously overlooked part of the City. Bryan Levy, CEO of DBS Developments, expressed his vision: "Our goal is to bring illumination, vitality, and prosperity to this neighbourhood. We hope to attract new visitors, encourage local business growth, and revitalize this part of town that has long been awaiting a resurgence."

Alterra Group of Companies, Platinum Vista, and DBS Developments remain committed to their like-minded values of excellence, innovation and community engagement. With this development, these three partners look forward to creating a landmark project that will redefine Toronto's urban landscape.

With 50 years of experience building impeccable homes, commercial buildings and mixed-use residential condominiums, Alterra's achievement is based upon a commitment to creating communities that go far beyond conventional industry standards. A deep understanding of the complex relationship between people and place is the guiding force behind every decision Alterra makes, managing every element from concept to completion on over 30 million sq. ft. of development across the Greater Toronto Area and the Golden Horseshoe region. With award-winning residential, commercial and hospitality projects, Alterra has earned its strong reputation one building at a time. Alterra.com

DBS Developments functions as a fully integrated real estate development company. DBS, named after the founder David Bela Salomon, has continued with these development operations including project design, development, and construction. Envisioning a residential experience to bring its communities to new heights, DBS works hand-in-hand with its in-house property management team to handle all aspects of property operations, and are equipped with the resources to deliver exceptional customer service to our residents. With over 60 years and three generations of development and management experience, DBS Developments set out to create a new standard for residential communities and has assembled an unparalleled team to bring their vision together. Dbsdevelopments.ca 

Platinum Vista is a full service real estate development firm with partnership interests based primarily in Toronto and the GTA.

From land assembly to transitioning to operations and construction, Platinum Vista optimizes and streamlines the entire development process.

Platinum Vista's expertise spans across key sectors, including residential properties such as condominiums, townhouses and single family subdivisions. In addition, Platinum Vista has holdings in commercial ventures, as well as  hospitality and recreational properties, including hotel development, golf clubs, ski resorts, and more. Platinumvista.ca

SOURCE Alterra Group of Companies