Hankyu Hanshin Joins Rental Apartment Development in Downtown Toronto
Hankyu Hanshin Properties announced on November 10 that it will participate in a rental apartment project, the (Tentative) “241 Church Project,” in downtown Toronto, Canada. The joint development partner is Graywood Developments, and the project will be advanced through a local subsidiary.
The project will be a 53-story tower with 591 units. Situated in the urban core adjacent to Toronto Metropolitan University and within walking distance of the University of Toronto, the building is scheduled for completion in fiscal 2027. The site area is approximately 1,348㎡ (approx. 14,510 sq. ft.), and the gross floor area is approximately 36,547㎡ (approx. 393,389 sq. ft.), capturing both day-to-day convenience and strong demand from commuters and students.
This marks the company’s first rental apartment development in Canada and follows a for-sale residential project it joined in 2024, becoming its second project in the country. With the Greater Toronto Area experiencing sustained population growth and a persistent shortage of rental housing, the development aims to tap robust demand. Proximity to major universities is expected to support stable leasing and provide a foothold for expanding the company’s overseas rental portfolio.
Key Facts
Property Name: (Tentative) 241 Church Project
Developers: Hankyu Hanshin Properties Corp. / Graywood Developments LP
Location: Toronto, Ontario, Canada
Completion: FY2027
Number of Floors: 53F
Gross Floor Area: 36,547㎡ (approx. 393,389 sq. ft.)
Site Area: 1,348㎡ (approx. 14,510 sq. ft.)
Total Units: 591