Major Midtown Toronto approval advances Elysium's growing portfolio of transit-oriented, purpose-built rental communities

TORONTO, Aug. 5, 2026 /CNW/ -- Elysium Investments Inc. ("Elysium") has secured Toronto City Council approval for a 36-storey, 339-home purpose-built rental development at 17–29 Glenavy Avenue in Toronto's Bayview-Eglinton neighbourhood.

Located at Glenavy and Glazebrook avenues, the site is within walking distance of the Eglinton Crosstown LRT and near the Yonge-Eglinton Secondary Plan area, one of Toronto's most significant transit-oriented growth districts.

The development will provide 339 rental homes, including 83 two-bedroom and 52 three-bedroom suites. Forty per cent of homes will contain two or more bedrooms, delivering family-sized rental housing in one of Midtown Toronto's most connected neighbourhoods.

"We do not measure good development by height alone," said Sayf Hassan, CEO of Elysium Investments. "We measure it by the quality of the homes, the strength of the design and how carefully the building responds to the neighbourhood around it. Glenavy delivers on all three."

The approval follows a refinement of the original proposal. Elysium reduced the tower from 39 to 36 storeys, reshaped the upper-floor massing to improve its relationship with neighbouring properties and relocated pick-up and drop-off activity underground to preserve a pedestrian-focused Glenavy Avenue frontage.

The revised design emerged through coordination with Toronto Community Planning, Engineering and other City divisions.

The development will also provide indoor and outdoor amenity space exceeding City requirements, within a gross floor area of approximately 27,500 square metres.

Glenavy reflects Elysium's broader approach: acquire well-located urban sites, unlock their housing potential through disciplined planning and design, and deliver rental communities supported by major public investment in transit and infrastructure.

The application was submitted in August 2024. With approvals secured, Elysium will advance remaining site plan, technical and pre-construction work ahead of construction mobilization. Timing details will be announced as the project progresses.

About Elysium Investments Inc. 

Elysium Investments Inc. is a Toronto-based real estate investment, development and asset management platform specializing in purpose-built rental and student housing, with a growing portfolio of major urban housing developments across the Greater Toronto Area. The firm is also the developer of Yarra Student Living, its purpose-built student housing platform.

SOURCE Elysium Investments Inc.