Fortress Real Developments, Carlyle Communities and Berkley Developments have partnered on a high-rise development on the southwest corner of Peter and Richmond Street West in Toronto. The Peter and Richmond Land Assembly (PRLA) will feature a 46-storey condominium apartment tower designed by Architects Alliance with 435 units, with an average unit size of about 660 sf, and a targeted average price of approximately $400,000.
The downtown Toronto condominium market remains very strong, and much of the market’s performance in 2014 can be attributed to well-located developments on transit, or close to ample entertainment and employment. All of those factors are present at PRLA. The combination of a strong partnership, attractive pricing, innovative design and a location in the highly desirable entertainment district have this project poised for brisk sales and tremendous success.