Almega announces joint venture with Builder of the Year, Brixen Developments, to build future-forward condominiums minutes away from Downsview Park

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 just a few minutes' walk from the Sheppard West subway station and Downsview Park.

"We're thrilled to offer homebuyers the opportunity to live a highly connected lifestyle steps away from Sheppard West subway station and to the highly anticipated improvements to Downsview," 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.

Combined strength and depth of experience

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.

Neighbourhood of the future

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.

A key selling point for the new residence is its 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. Also at Downsview 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 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 future 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.

About Almega Corp.

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.

About Brixen Developments

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

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