About SLATE
Slate Asset Management, a well-known real estate investment group, holds an impressive portfolio of commercial and industrial properties around the globe. Yet, the Toronto-based company has recently taken a bold and exciting leap into high-end residential development. Known for its precision and careful approach to asset management, Slate Asset Management now aims to infuse its conscientious approach of operation into the luxury condominium market.
A Domain Expert in Real Estate Investment
Slate was found in 2005 with a mission to fulfill the market requirement for a value-oriented asset manager. Over the years, the real estate pioneer has developed an impressive 28-million-square-foot portfolio worth $6 billion. Slate demonstrated its expertise with a remarkable acquisition in 2019, buying 19 grocery-anchored properties located in Germany. The company’s primary business focus has been in retail, industrial, and office spaces, but it has always adopted a opportunistic investment strategy.
Global Presence, Toronto at Heart
Even with a broad transcontinental business reach, Slate has always held a special place for Toronto, its home city. Of Slate’s 308 global investments, 12 unique properties are housed in Toronto’s St. Clair and Yonge region, a collection that started in 2013. This concentration of properties awarded Slate with notable command over the Yonge and St. Clair area, giving the company power and influence to bring new life into the initially inactive vicinity.
A New Chapter in Slate’s Legacy
In recent times, Slate has decided to venture into high-end residential development. Despite housing thousands of properties, the developer’s portfolio barely contains any condos or residential buildings. Nevertheless, the company’s ambitious move to become a builder of luxury condos has been met with great anticipation.The company’s plan started in 2018 when they unveiled the design for a proposed luxury condo at the intersection of St. Clair and Yonge. This significant step toward residential estate transformed Slate from being a commercial real estate giant to a luxury condominium developer.
The Architectural Icon of St. Clair and Yonge
Slate’s first foray into luxury residential development came in the form of a visionary design conceived by Studio Gang, the world-leading architecture firm. The proposed scheme for 1 Delisle Avenue generated a great deal of attention, being lavished as a “future landmark” and an “architectural icon”.The proposed building uses an impressive hexagonal-honeycomb facade. The structure promises to be equipped with various sustainability measures like a shadow-reduced rounded form, discreet balcony spaces usable throughout the year, compliance with Tier 2 Toronto Green Standards, and a potential district-wide energy system.
Rejuvenating Yonge and St. Clair
Moreover, the company’s ambitious step into residential development is not solely restricted to erecting a luxury building. They aim to breathe new life into the entire community of Yonge and St. Clair. Slate has undertaken various initiatives to improve cultural and retail offerings in the region and enhance the overall pedestrian experience.
Investing in Art and Community
As early as 2016, Slate began sponsoring art installations around Yonge and St. Clair. The first was an imposing eight-storey mural by international street artist Phlegm on 1 St. Clair Avenue West. Since then, several eclectic pieces have sprung up, significantly improving the neighborhood’s visual appeal.
The Future at Yonge and St. Clair
Slate’s plans for the neighbuorhood go beyond art and architecture. The company, a significant part of the Yonge and St. Clair Business Improvement Association, is taking part in developing a Streetscape Master Plan for the next 5 to 10 years.The plan includes innovative features like solar-powered LED lights, custom granite pavement, large planters for big trees, and unique gateway signage at main entrances.Slate’s meticulous approach to improving the Yonge and St. Clair neighborhood – along with its ambitious luxury condominium project – speaks volumes about their commitment to their community.
While changing its canvas from commercial to residential real estate seems like a steep leap for Slate, their comprehensive engagement with the local community, environment-friendly designs, and ongoing efforts to enhance Toronto’s landscape reinforce the company’s deep-rooted belief in organic growth. As real estate enthusiasts, we keenly look forward to their journey into developing luxury condominiums.