Canderel Breaks Ground on Forêt Forest Hill, a Major Midtown Toronto Development

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Canderel has commenced construction on its Forêt Forest Hill project in Toronto, securing financing amid a challenging market. The development features three residential towers and various community amenities.

Canderel has officially launched construction on its ambitious Forêt Forest Hill project, a master-planned community consisting of three towers located at the bustling intersection of Bathurst and St. Clair in midtown Toronto. The groundbreaking ceremony took place on June 18, 2026, marking a significant moment as many other condominium developments throughout the city are currently stalled due to a variety of market challenges.
The project has successfully secured financing from a consortium of five prominent Canadian banks, led by CIBC, with National Bank, TD, Desjardins, and Laurentian Bank as part of the financial backing. Ben Rogowski, President and Chief Investment Officer at Canderel, emphasized that moving forward with a project of this magnitude amidst the current market conditions showcases the firm's proven track record and capability to navigate through varying economic cycles.
Canderel's Chairman, Jonathan Wener, compared the Forêt Forest Hill project to Aura at College Park, another notable development by the company that commenced construction following the 2008 recession, also supported by a consortium of ten banks. Wener stated, "While today's environment presents a different set of challenges, Forêt reflects a similar achievement: moving a major project forward with the confidence of leading Canadian financial institutions at a time when the industry is facing significant headwinds."
The site, which had been vacant for an extended period, is conveniently located just steps away from St. Clair West Station and the St. Clair streetcar line. The approved development plan outlines the construction of three residential towers, standing at 35, 37, and 41 stories high, collectively providing approximately 1,310 residential suites.
The project team comprises BDP Quadrangle for architectural design, II BY IV Design for interior spaces, and Site/C for landscape architecture. In addition to the residential components, the redevelopment aims to deliver several community-focused amenities, including a new public park, a childcare center, community space, and ground-level retail facilities.
Last year, geothermal infrastructure was installed to support the heating and cooling needs of the development. The planned amenities are extensive, encompassing around 50,000 square feet of both indoor and outdoor space. Notable features will include a two-storey fitness center, indoor and outdoor swimming pools, sauna, steam rooms, a juice bar, areas for children's recreation, a pet spa, and a private dining space with a wine lounge.
The eastern tower will feature boutique suites on its upper nine floors, complete with a private lobby, private elevator access, dedicated amenity spaces, and ultra-high-end finishes. Typical suites in this section are expected to reach sizes of up to 2,000 square feet, with options available for unit combinations.
Sales for the Forêt project are being managed by RAD, with President Riz Dhanji noting that in the current market, buyers are increasingly drawn to well-designed, well-located developments backed by reputable developers. This trend highlights the ongoing demand for quality construction in the residential sector, even amidst broader market uncertainties.

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