TEDCO Announces the Largest Green Community in Canada
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Overview
On October 24, 2007, our client of over 20 years, the Toronto Economic Development Corporation (TEDCO), and Monarch Corporation announced that they will develop the largest low-rise green residential community in Canada. The $100 million project will be a joint development between the two corporations. TEDCO was represented by Leor Margulies, a partner with our real estate department, during its negotiations with Monarch Corporation.
The new development, called Evergreen, will offer environmentally friendly homes built to the new LEED-H standard on close to 24 acres in Toronto's Midland and St. Clair area. The project will encompass a mix of 196 town homes and single-family homes. This is the first time TEDCO, whose business is focused on commercial, industrial and mixed-use projects, has partnered with a residential builder.
