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East Fifty Five

- by Lamb Development Corp

East Fifty Five will consist of a 25-storey tower with 276 residential units, with an average unit size of about 625 sf, and a targeted average price of around $395,000. A small commercial component consisting of 6,400 square feet (sf) is planned at grade.

This condominium apartment project is located at 53 Ontario Street, north of Adelaide Street East and is within walking distance of the Queen and King streetcar lines, and the George Brown College Hospitality and Tourism Campus. New employment is being added nearby as well, the new 17-storey Globe and Mail Centre is under construction, with the Globe occupying the top five floors. These key ingredients will make the project popular with end-users looking for a high-style project in the east end, and investors who want an ample supply of prospective renters looking to be close to work and school.

Lamb Development Corporation recently completed The King East just minutes from the subject site, and resale units in that project have sold for more than $700 psf on average in Q3-2016. East Fifty Five is poised for success with strong demand in the area known as Downtown East and almost no completed and unabsorbed supply.

Toronto’s downtown east is going through a major gentrification right now. We are seeing the potential of what we saw along King West coming to this area and I look forward to the East Fifty Five project being a part of the new identity for the area.

Brad J Lamb, President of Lamb Development Corporation

Project Developer

Lamb Development Corp (LDC) was founded in 2001 by broker Brad J. Lamb to directly participate in the development of condominium projects. At that time, with over 13 years of experience in consulting, marketing and the selling of over 80 of Toronto’s most innovative and exciting projects, Mr. Lamb wanted to bring something different to the development world. Since then he has done just that, developing over nine completed projects, along with four projects under construction. An additional 1700 units or six projects are in development. LDC’s mandate is to develop and co-develop residential, recreational and vacation resort properties with a significant leaning towards modern architecture and design.