- What Elysium Investments is moving into student housing
- Why The firm has an established history with high-rise residential projects
- What next Elysium is open to partnerships with universities, developers and investors
Elysium Investments announced two major undertakings on Thursday: the pending launch of a student-housing arm and the acquisition of a high-rise development site in Toronto.
The Toronto-based investment and development firm is preparing to launch Yarra, “a next-generation platform for purpose-built student accommodation.”
Yarra will be developed in collaboration with campus groups and student boards. The platform is also open to partnerships with universities, developers and investors. An official launch date was not announced by Elysium.
Student housing is a new undertaking for the firm, which specializes in high-rise residential development in the Greater Toronto Area. The announcement comes as more developers turn their eyes to student housing – an asset class with strong demand and the rare ability to pencil out in today’s market.
The development site acquired by Elysium will not be part of the Yarra initiative, however. It is slated for a new apartment tower. Pricing details of the deal were unavailable.
The parcel, at 41-47 Talara Drive in North York, is occupied by two single-family homes. Elysium has not yet finalized the proposed building’s height or unit count, but will soon begin the process of entitlement.
The plot is immediately north of Highway 401 and is less than 400m from the Bessarion subway station on Sheppard Avenue East, aligning with Elysium’s focus on transit-oriented development.
“This is density with purpose – on transit, by design,” Sayf Hassan, chief executive of Elysium, said in a release. “We’re not chasing rooftops. We’re building rooted, resilient communities.”
