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Ontario  + Multi-residential Housing  |  September 30, 2026
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By: Joel Bowey

Forest Hill Condo Site Reworked Into 230-Unit Rental Tower

Stafford and DBS Developments are recasting a Forest Hill site previously marketed as an ultra-luxury condominium into a 27-storey purpose-built rental development with more than 230 units.

The project at 429 Walmer Rd., just north of St. Clair Avenue West, represents a substantial change from Stafford’s earlier plans for the property. The developer launched sales in 2025 for a 48-residence condominium project, with suites averaging more than 3,000 SF. Urbanation reported six sales by the end of that year.

The property had previously housed the six-storey Cedarvale Terrace long-term care home.

The latest design, by BDP Quadrangle, calls for a nine-storey podium and 18-storey tower. A significant share of the apartments will be two-bedroom-plus-den or three-bedroom units, with some exceeding 1,500 SF. No studio apartments are planned.

The project has received Committee of Adjustment approval and is in the final stages of site plan approval.

It is Stafford and DBS’s second rental partnership following their 524-unit development at 11-21 Johnston Ave. near Yonge Street and Sheppard Avenue.

Pictured: Jonathan Goldman (Stafford), Nathaniel Pace (Stafford), Bryan Levy (DBS Developments), and Ben Rossetto (DBS Developments)

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About Joel Bowey

Joel Bowey is Director of Content and Events for Connect CRE in Canada, leading the company’s editorial coverage and industry engagement across the Canadian commercial real estate market. He brings more than 20 years of experience in Canadian journalism and digital media, including senior leadership roles with CTV News, CP24 and BNN Bloomberg. Most recently, he served as Senior Managing Editor at Bell Media, overseeing major newsrooms, national coverage and digital growth initiatives. Throughout his career, Joel has led large editorial teams, covered major Canadian business and economic stories, and helped develop new audiences across platforms. At Connect CRE, he is focused on delivering timely, useful reporting on the people, projects, deals and trends shaping commercial real estate in Canada. Based in the Greater Toronto Area, Joel also represents Connect CRE at industry events and conferences across the country.
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