270 Sheppard Avenue

FAMILY-SIZED RENTALS WALKING DISTANCE TO NORTH YORK’S VIBRANT YONGE-SHEPPARD CORRIDOR

Vision: Redevelop a land-assembly into a complete, transit-oriented, rental community.

ELM was attracted to this 1.11-acre, 8-property assembly because of its proximity to Sheppard-Yonge station (Lines 1 & 4), direct Highway 401 access, and location within one of North York’s strongest and fastest-gentrifying corridors.

A limited supply of rental apartments nearby created an obvious market gap for families and downsizers seeking security of tenure in a resident-first community.

In 2026, ELM acquired this development site in partnership with Fiera Real Estate. Following an in-depth due diligence process, ELM concluded the originally approved development resulted in an inefficient “wedding-cake” design that reduced GFA potential and increased construction costs. ELM reimagined the building as a family-oriented missing-middle community conforming to the City of Toronto’s Growing Up (2020) and Mid-Rise (2024) Guidelines.

ELM engaged Studio JCI to design a building targeting young families which resulted in more than 69% of the units being 2- and 3-beds. Given the site’s contentious OLT history, ELM mitigated a drawn-out and uncertain process by preserving the in-place 9-storey zoning, but increased density by removing the “wedding-cake” design. This change could be accomplished through a minor variance within six months, not years. The result was a City-supported 19% GFA- and 15% unit-count- increase.

270 Sheppard’s amenity program includes a hotel-style lobby, expansive rooftop amenity and terrace, commercial-grade fitness space, co-working areas, pet wash, and the latest in resident technology.  With 7,000 SF of street-front retail along Sheppard Ave. W., residents benefit from essential services at their front door.

ELM expects to commence excavation and geothermal works mid-2026. ELM introduced a geothermal system to reduce carbon emissions compared to conventional heating and cooling, while improving property NOI. Concurrently, residents benefit from lower utility bills and year-round, no-changeover, heating and cooling.