Graywood & Phantom Partner to Acquire VMC Site
1.4 min read
3201 Highway 7, a property with plans for a significant three-tower, mixed-use development in the heart of the Vaughan Metropolitan Centre (VMC), has been acquired by Graywood Developments LP and Phantom Developments.
Although the purchase price for the property was not disclosed, the partners have planned a development that will comprise two 55 and one 26 storey towers that will hold roughly 1730 residential units.
A focus on accessible transit is what made this site an ideal investment for both partners. Alex Marshall, Graywood’s Director of Development, stated, “If you’ve walked the VMC recently, you can see it already coming into force. You walk from the transit centre to our site, it’s less than a four-minute walk, and we are creating an entire community where our residents are going to be able to live, work and play with office space, amenity space, and retail.”
Aside from an abundance of residential space, the proposed development will also house approximately 10,000 square feet of ground-floor retail.
Learn more about Graywood and Phantom’s plans for the newly acquired site.
Reference
Toneguzzi, M. (2021, November 25). Graywood, Phantom buy site to build 3 towers at Vaughan's VMC: RENX - real estate news exchange. RENX. Retrieved November 30, 2021, from https://renx.ca/graywood-phantom-buy-site-build-3-towers-vaughan-metro-centre/.
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