Distrikt Capital and Alterra Join Forces on over $1bn of Residential Development

Jul 26, 2022 | News

Distrikt and Alterra are pleased to announce a new joint venture to build a condominium community in Oakville. The two soaring 31-storey buildings with over 700 suites will be among Oakville’s tallest condominiums.

Offering an unmatched lifestyle, this community is surrounded by parks and ravines, yet only minutes from exceptional neighbourhood amenities, such as shopping and transportation; the new community provides easy access to highways 403 and 407 and the future Urban Core transit hub.

This joint venture between Distrikt and Alterra is the second time the two high-profile developers have combined their years of experience. In March 2021, Distrikt and Alterra joined forces to develop a site at Caledonia and St. Clair West, a three-acre property in Midtown Toronto. The synergy and complementary skills of the two companies were the impetus to continue the partnership for this new, unprecedented Oakville condominium project.

Paul Simcox and Emil Toma, cofounders of Distrikt, and Marcus Boekelman, VP Development, are delighted to be partnering with Alterra on another landmark project.

“Distrikt is excited to have Alterra join us on our Trafalgar Road site in North Oakville and add its decades of experience in development and construction to bring these exciting towers to life,” said Emil Toma.

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“Having previously worked with the Alterra team, we know they will bring tremendous value to this development partnership in the emerging North Oakville market,” said Marcus Boekelman. “We share the same core values and passion for creating new communities through building design excellence and an outstanding customer service experience.”

Distrikt is proud to build on a strong history in Oakville, already a notable player on the real estate scene in this coveted urban centre. Trailside, their master-planned community featuring two condominium towers and luxury townhomes, is making its mark with investors and homebuyers alike. More projects in Oakville are in the planning stages.

With nearly 50 years of development and construction experience, Alterra currently has 5 projects under construction and, most recently, had tremendous success with their launch at Celeste Condominiums in Downtown Toronto. Looking ahead, Alterra is thrilled to return to its roots and deliver homes to purchasers in the town of Oakville.

“Returning to Oakville after 25 years of concentrating our efforts in Toronto is very exciting for Alterra,” said Robert Cooper, President and CEO of Alterra. “We’re looking forward to developing this landmark community together with Distrikt.”

This significant transaction also includes financial investment and partnership with institutional funds manager Windsor Private Capital, building on successful prior real estate investments and relationships with Distrikt in both Oakville and Toronto. 

Collectively, these companies bring decades of development, construction, and financial experience to the table, with a mutual desire to create landmark properties that bring value to neighbourhoods by enhancing the lives of residents.

Source: Newswire

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