Dream Impact completes Quayside reorganization

Executive Summary

• Dream Impact Trust completed the reorganization of its partnership for the Quayside project in February 2026, resulting in the Trust and Dream Impact Fund owning 100% of the Phase 1 multifamily portfolio.
• Phase 1 is expected to comprise 1,100 multifamily market rental units and approximately 550 affordable rental units developed in partnership with Waterfront Toronto and the City of Toronto.
• Construction is expected to commence by the end of 2026, with the Trust currently securing long-term government-affiliated financing.

Key Details

• Partnership Structure: The reorganization resulted in the Trust and Dream Impact Fund owning 100% of the Phase 1 multifamily rental portfolio on a 25%/75% basis.
• Project Scope (Phase 1):
  • 1,100 multifamily market rental units.
  • Approximately 550 affordable rental units.
• Partners: Development is being conducted in partnership with Waterfront Toronto and the City of Toronto.
• Financial Incentives: The project has achieved development charge relief and qualifies for HST waivers.
• Financing: The Trust is in the process of securing long-term government-affiliated financing for the project.
• Timeline: Construction is expected to commence by the end of 2026.

Notable Quotes

• "We are pleased to announce the completion of the Quayside partnership reorganization, which is a significant accomplishment at one of our milestone projects," said Michael Cooper, portfolio manager.