Leading Firms Launch Iconic Multifamily Project in Downtown Toronto
Official announcement of start of construction:
– Heritage commemoration project to bring 231 purpose-built rental units, including 40 affordable homes with support by the City of Toronto, to 950 King Street West in Downtown Toronto –
TORONTO, June 18, 2025 /CNW/ -
Greenwin,
Intentional Capital,
Windsor Private Capital, and the
LiUNA! Pension Fund of Central and Eastern Canada marked the start of construction on their new purpose-built rental community at
950 King Street West. The project will redevelop the historic Palace Arms Hotel into a purpose-built market and affordable rental apartment building in Toronto's vibrant King West neighbourhood, with a focus on heritage commemoration. The project will preserve key elements of the building's legacy, while delivering 231 rental homes, including 40 affordable units with support by the City of Toronto, to help address the City's growing demand for secure, long-term housing.
Located directly on the King West TTC line and within walking distance to Liberty Village, Trinity Bellwoods Park, and the Financial District, the site promotes transit-oriented living in one of the City's most dynamic neighbourhoods. In addition to rental housing, the 17-storey community will feature retail space, outdoor amenity areas, and a range of on-site conveniences including co-working facilities, a fitness centre, parcel lockers, social lounges, and bike storage.
The development team is working closely with
Giaimo + Associates Architects to thoughtfully commemorate the site's historic past. The new building will feature a reconstruction of the original Palace Arms Hotel façade, incorporating salvaged materials such as stone, stained glass, woodwork, and metal detailing. These restored elements will be integrated into the new structure, honouring the site's legacy while meeting the needs of today's city.
"This groundbreaking marks an important step in our ongoing commitment to bringing purpose-built rental supply to the City of Toronto," said Kevin Green, President and CEO, Greenwin. "Collaborating with partners who share our vision allows us to create lasting, inclusive communities. Together, we're addressing the City's housing challenges with thoughtfully designed homes that offer long-term value for residents and neighbourhoods alike."
"This project represents a meaningful contribution to Toronto's housing supply," said Rod Bell, Managing Director & Co-founder of Intentional Capital. "By providing a mix of affordable and market rental homes, we are helping to meet the diverse needs of the city's residents. This project will create vibrant, inclusive communities with modern amenities in a transit-oriented community."
"The development at 950 King Street West is a prime example of how we can tackle Toronto's housing challenges by working collaboratively to deliver high-quality, long-term rental housing," said Jordan Kupinsky, Managing Partner, Windsor Private Capital. "We are proud to be part of a project that combines thoughtful design, heritage preservation, and a commitment to affordable housing."
About Greenwin
Greenwin is one of Ontario's largest privately-owned, full-service property management and development firms. Founded in 1948, Greenwin manages more than $3.3 billion in real estate assets spanning across major urban centres in Central Canada. This portfolio includes more than 1 million square feet of commercial space and nearly 22,000 residential units. Greenwin is committed to investing in people and places to create exceptional, inclusive rental communities - one building at a time. For more information, visit
www.greenwin.ca.
About Intentional Capital
Intentional Capital is a privately owned, Toronto-based real estate company that specializes in providing much needed purpose-built multi-residential buildings. With over $1 billion in gross development value, we aim to provide our tenants with environmentally friendly and state-of-the art homes. Our valued stakeholders include members of our communities, our employees, our trades, and consultants, and of course our private investors. For more information, visit
www.intentionalcapital.com.
About Windsor Private Capital
Windsor Private Capital (Windsor) is an asset management firm headquartered in Toronto, Ontario primarily focused on real estate lending and equity investments. Together with its affiliates, the organization advises and manages over $3 billion on behalf of institutional and private investors, including the LiUNA Pension Fund of Central and Eastern Canada, one of the country's largest private sector union sponsored pension funds. Underpinned by its core values of loyalty, trust, integrity, creativity and teamwork, Windsor has demonstrated a robust track record of delivering reliable, consistent and strong risk-adjusted returns. For more information, visit
www.windsorgp.com.
About LiUNA Pension Fund of Central and Eastern Canada
LiUNA Pension Fund of Central and Eastern Canada is one of the country's largest private sector union sponsored pension funds.
