TORONTO, June 19, 2024 /CNW/ - Brixen Developments Inc. and Almega Corporation are pleased to announce they have entered into a joint venture to build new condominiums at Downsview Park, just a few minutes' walk from the Sheppard West subway station or 4 minutes on the Sheppard bus.

This modern condominium at 824 Sheppard Avenue West is the perfect backdrop for a vibrant life near Downsview Park, a popular green space and music festival venue with forests and trails, sports fields, and more. The park is set for extensive development, along with the Sheppard West corridor. As well as effortless accessibility to the expanding Downsview Park, the new condominiums will also offer premier access to transit, and smart in-suite technology to streamline everyday life.

"We're thrilled to offer homebuyers the opportunity to live a highly connected lifestyle, on the doorstep of Downsview Park, a precedent-setting new urban development," said Basem Hanna, CEO, Almega.

That sentiment is echoed by Brixen's co-founders, Alexander D'Orazio and Andrew Iacobelli, who are delighted to join forces with Almega on this exciting project. "We wholeheartedly embrace the opportunity to work in partnership with Almega on what no doubt will be a very sought-after new community," said D'Orazio.

"This next-level project will benefit from the great synergy of our two companies working together," added Iacobelli.

In just a few short years since its inception, Brixen has already made a mark within the GTA building industry, winning BILD's Home Builder of the Year, High-Rise award in 2024. The joint venture between Brixen and Almega will capitalize on each company's unique capabilities in land entitlement, pre-development sales, construction management and property management.

The Sheppard West condominium project is the cornerstone of the new partnership between the two distinguished builders. Bringing into play all their combined experience and unique expertise, the talented team is poised to have a significant impact on the landscape of this neighbourhood. Together, Brixen and Almega will create an unprecedented community that brings condominium living into the future.

"Residents of this condominium community will experience an enriched lifestyle in a high-quality building, thanks to our team's impressive combination of experience," said Hanna.

The unique midrise condominium building rises above the Sheppard West neighbourhood, offering residents easy access to the 291-acre Downsview Park, Toronto's Central Park.

Close proximity to this popular green space and music festival venue with forests and trails, ponds and picnic space, sports fields, the Downsview Park Merchants Market, and a training site for aerospace students is a key selling point for the new residence. Also at Downsview Park is K1 Speed Go Karting, The Hangar Sports and Event Centre, and the HoopDome – rounding out the offerings for all ages and all interests.

Brixen and Almega's new community will become an increasingly more desirable place to live as the extensive plans to transform 520 acres of the Downsview Lands come to fruition. Formerly the home of de Havilland Aircraft and the Canadian military, the Downsview Lands, adjacent to current Downsview Park, will be a nature-centred urban oasis for 85,000 residents. This new city within the city will define the area and showcase modern urban planning. New streets, transit routes, bike paths, walking trails, and green space, will all connect to area parks, transit stations, streets and neighbourhoods.

Both Brixen and Almega are proud to be offering Toronto homebuyers a brilliant new opportunity, and are looking forward to seeing the Sheppard West neighbourhood transition into a dazzling modern destination.

Founded in 2011, Almega Corp is a vertically integrated Canadian private real estate development company, whose decisions and actions are driven by its core values of trust, respect, equality, and compassion. The company has over $1 billion in active and completed projects, and more than 1,000 units under development encompassing more than one million square feet. Almega's goal is to create long-term value through acquisition, development, and management of select real estate assets across Ontario. Almega proudly donates 10 percent of its profits to charitable causes selected by its employees.

Award-winning Brixen Developments was formed in 2019 by Alexander D'Orazio and Andrew Iacobelli, and this partnership confirmed their common values. Both are committed to quality and are driven by the desire to build communities where people come first. Brixen is determined to integrate these values into each project. Without sacrificing their core values, each of their developments is delivered within budget and within promised schedules.

SOURCE Almega Co. | Brixen Developments