FOUR ELEVEN KING CONDOS BY TERRACAP and GREAT GULF
Great Gulf is an award-winning home builder and developer of brand new residences and condos in Toronto, Milton, Sharon Village, Bradford, Oakville, Whitby and Brampton.
For 40 years Great Gulf has continued to transform the way homes are built. We’ve built our reputation by continually seeking to marry design, innovation, construction technology and craftsmanship in new and exciting ways, to create homes that are quieter, brighter, healthier, more energy efficient and not quite simply, better built. That’s the Great Gulf difference.
The Terracap group (“Terracap”) is a $1.5 billion private equity realty group led by Larry Krauss, combining comprehensive management services with intelligent realty investment. Their private equity investors and partners represent a number of North America’s top-tier business leaders and high net-worth people.
With quite one hundred realty deals remodeled the last thirty years, their various portfolio includes four million sq. feet of North American realty, as well as multi-residential, development lands, hospitality, retail, and workplace properties.
Terracap bolsters the worth of those investments through active management, innovative tax structures, renovation, remerchandising plans, inventive funding, and by securing and locating underperforming assets in key markets.
Today, Terracap is capitalising on decades of realty knowledge and knowledge to create landmark developments in major locations. Their strategic acquisitions within the heart of Toronto are presently undergoing large-scale development, which is able to considerably impact the Toronto business landscape.
Their mission is to secure high-quality investment opportunities for the investors, across numerous geographic markets and plus categories. They have a tendency to guarantee steady income and premium returns for the investors through innovative leasing, improvement, and money and tax structuring.
Terracap owns neighbouring 401-409 and 415 King Street West in Toronto, Ontario. The company purchased 401-409 in 1994 for $850,000 (45,000 square foot office building and 6,800 square feet of ground-floor retail), and 415 in 2007 for $6.3 million (13,500 square feet).
401-409 King underwent a modernization/refurbishment program which included elevator cab enlargement, façade work, and lobby renovations, in order to maintain the site as a rental property until such time as the site would be ready for demolition.
In order to provide for a modest return for investors during the interim approval process, an LCBO was constructed at 415 King.
Approval was recently received for the construction of a 44 story high rise to be composed of approximately 303,000 square feet of residential, 46,000 square feet of retail and a hotel of approximately 111,000 square feet.