Category: Press Release

It was in early November 2024, where the brisk Toronto air carried a sense of renewal as AvranceCorp Developments CEO Samuel Babarinde stepped onto the grounds of 3100 Weston Road, a site long familiar to members of the local church community.

The property, lush with mature trees and bordered by the gentle bend of the Humber River—had been a gathering place, a backdrop for community picnics, youth programs, charity drives, and a sanctuary of quiet reflection.

For Angela Carboni, a long-standing and deeply respected member of the church of St. Basil, the grounds were more than land. They were memories, ministry, and legacy. As whispers of redevelopment began circulating earlier that year, she became the unofficial voice of the congregation, determined to see the future of the land grounds, previously sold to AvranceCorp by the church for $16.5 million dollars in August 2023, treated with reverence.

Their meeting wasn’t born out of conflict but out of necessity. AvranceCorp, having ambitious plans to bring 480 units of much-needed affordable housing to Toronto’s northwest, needed clarity and cooperation. The church community, protective of their historic space, needed assurances and respect.

The two met on a cool November afternoon with open minds. Babarinde, known for his hands-on business approach and ability to balance development vision with community sensitivity, arrived prepared to listen. Carboni, equally composed and resolute, carried years of lived experience within the community.

Over several hours of dialogue, both at the 3100 Weston Road grounds and at the AvranceCorp office, cautiousness quickly melted into consensus. Both realized they were serving the same community, and while the physical space might change, its spirit did not have to be lost.

An agreement was forged, away from the bright lights of media cameras and the watchful eyes of journalists.

AvranceCorp would grant permission to Carboni and the church members to use the 3100 Weston Road grounds two days a month. It was a simple agreement, that recently celebrated its first anniversary as of November 2025.

“I honoured the days he (Babarinde) gave me,” Carboni said appreciatively in a recent interview with AvranceCorp. “I didn’t cross the lights … we don’t want to disrupt anybody or make anyone upset. We never did, from the beginning. So, we honoured it and there’s been no problems.”

It’s a wonderful story of mutual respect that many can learn from.

“It’s been fine, we worked together,” Carboni added. “I listened. He (Babarinde) gave me that opportunity. The people that come are very grateful. Everything’s been good. I’m glad.

“This is the way it should be.”

A moment of understanding.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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When AvranceCorp’s name first appeared on the transfer papers in August 2023, the headline felt like a hinge being turned.

The estate at 3100 Weston Road—long known to older neighbourhood residents as Rivermede, and to many others for the Marian Shrine of Gratitude, was more than a parcel of land.

It was a layered place: a 1930s Tudor-Revival estate set in the Humber River valley; a monastery and school site for decades; and a shrine that drew visitors for prayer and quiet reflection. Those layers made the sale a story that would unfold at the intersection of heritage, faith, community activism, and urban need.

The years before the sale had already tattooed the property with stories. Rivermede’s main house and its terraced gardens were the work of an earlier Toronto era, built in the early 1930s for the Gardiner family and sited deliberately on the valley’s slope so the river and trees felt like part of the home. In 1958, the Ukrainian Basilian Order acquired the estate; for much of the latter 20th century the monastery and its associated school anchored a pocket of spiritual life and social service in the north end of the city. Out of that spiritual stewardship grew the Marian Shrine of Gratitude: a carefully landscaped devotional terrace with statues, stonework, and volunteer caretakers who tended the site and kept it open to strangers and worshippers alike.

When AvranceCorp’s purchase became public in 2023, reaction split along predictable lines. Some residents and advocates saw opportunity: a major site close to transit and open space could be a place for new, denser housing in a city that desperately needed it. But others saw loss. The possible erasure of gardens, of quiet prayerful spaces and historic architecture. Some rallied quickly. The Marian Shrine attracted petitions and vocal campaigns to preserve its stone terraces; local councillors and heritage advocates began poring over the property’s past in search of legal levers to protect what the community valued.

But few knew just how difficult the decision of the church to sell 3100 Weston Road actually was. Looking at an Aug. 16, 2023  St. Basil the Great of St. Josaphat press release, the church noted several factors in the decision to sell, including declining membership and the realization that the Basilian monastic community was “no longer viable.”

“The decision to close the Basilian Apostolate in the Toronto area was not made lightly,” the release said. “After several years of preliminary discussions and much prayer and reflection, a resolution to close this Apostolate was passed at the Order’s Provincial Chapter in February 2016 and was confirmed by the General Superior of the Basilian Order in Rome, along with his Council.”

“This resolution was also carried forward and passed at the Order’s Provincial Chapter in February 2020 and was once again confirmed by the General Superior of the Basilian Order in Rome, along with his Council.”

Armed with iron-clad approval from all levels of its hierarchy, the church implored its membership to find more constructive ways to be of service other than protesting, acknowledging that “public access to the monastery grounds (including the ‘prayer garden’, ‘shrine’, etc.) is restricted as it becomes the private property of the new owners.”

In the church press release, the church informed its congregation that “the religious articles in the prayer garden (i.e., Stations of the Cross, candle stands, statues, etc.) will be reverently removed from the site and, if possible, donated to other groups that can make use of them. In other words, the “Shrine” is permanently closed.”

Meanwhile, AvranceCorp began the familiar, slow work that follows any large acquisition: environmental and heritage assessments, site surveys, meetings with city planning staff, and outreach to community groups. Public records and city staff reports that followed in late 2024 and early 2025 would describe the house and grounds in technical language, architectural features, landscape assets, floodplain boundaries, but the conversations in community halls and church basements were about memory and access: would people still be able to walk the paths behind the sanctuary? Would the stonework of the shrine be kept intact? Could new housing co-exist with the quiet that had drawn generations to the site?

Heritage advocates pushed the city of Toronto to formally evaluate the estate for protection. Neighbourhood volunteers kept maintenance going at the shrine and organized vigils and petitions. City councillors fielded calls from constituents and prepared motions that referenced both the architectural value of the house and the cultural significance of the shrine. This was not a simple developer vs. community story; it became a layered civic negotiation about what gets preserved, what gets repurposed, and who sits at the table when those decisions are made.

For AvranceCorp, the practical imperative was pressing: Toronto needs housing, and large sites near transit and natural amenities are rare. Over the next year the company advanced proposals that tried to thread that needle, designs that concentrated new units on less sensitive portions of the parcel, landscape plans that preserved tree corridors, and promises of community space.

By late 2024 and into 2025, those proposals hardened into formal plans and public engagement processes. At the same time, municipal staff issued notices and background reports that documented Rivermede’s architecture and landscape history, which in turn shaped what elements of the site the city signaled it wanted to see retained or commemorated in whatever comes next.

And in a November 2024 development that local media never saw coming, an agreement was forged by church leader Angela Carboni and AvranceCorp Development CEO Samuel Babarinde.

That agreement, which granted Carboni and the church members use of the 3100 Weston Road grounds two days a month, recently celebrated its first anniversary.

Today, many eyes remain on the 3100 Weston Road grounds. But as time has passed, hope and expectations have increased in a challenging Canadian financial climate.

By the end of the period that started with the purchase of 3100 Weston Road by the church in 1958 to the 2023 sale to AvranceCorp, the story of 3100 Weston Road had become a case study in how cities evolve. A single estate, its house, its monastery history, its shrine, and its treed grounds, prompted debates about historic preservation, about who benefits from redevelopment, and about the moral responsibilities of developers working on culturally charged land.

AvranceCorp continues to work towards its goals of affordable housing with its various projects at 3100 Weston Road.

The torch has been passed. And AvranceCorp Developments is prepared to run with it.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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In the best of economic times, trying to predict mortgage rates in Canada can be like trying to hold water in your hands.

That’s why experts like Sherwood Mortgage Group Level Two mortgage agent Joe Ferraro like to approach rates with caution for first-time homebuyers or clients looking to renew their mortgage.

“It all about the education,” Ferraro said on the Dec. 3 edition of AvranceCorp Presents. “It’s all about putting yourself in their shoes. What would you want someone to tell you? Don’t be a yes man. Don’t give them answers that are going to make them feel overly confident or overly comfortable. Tell them the truth. This is the market that we’re in right now. This is what’s potentially on the horizon.”

Currently, a five-year fixed insured mortgage rate in Ontario can be as low as 3.74 per cent, while a five-year variable insured mortgage rate in Ontario can be as low as 3.45 per cent. There are several factors that can influence mortgage rates, including market uncertainty with the American tariffs, inflation, unemployment, and bond yields.

“Because if inflation is high, the rates are probably going to be high,” “If unemployment is low or high, it affects the (mortgage) rate,” Ferraro explained. “It all depends on when we get inflation down, which we have. Once inflation gets down, the rate starts dropping.”

“There was the old adage: When it’s low rates, it’s high house prices. When it’s high rates, it’s lower house prices. It’s a different world for buyers and sellers. This is one of the few times in history where we’re not seeing that. People were so used to the pandemic rates, in the 1.3s and 1.4s that there was a big sticker shock with people renewing in 2025 and 2026 in the 3s and 4s. But if you look at the average over the last 25 or 30 years, we’re okay. People got too accustomed to the 1.4 or 1.3 or 1.69 variable that after five years, the world changed.”

It promises to be an interesting new year in particular for those looking to renew their mortgage.

“We’re looking at early to mid 2026 is similar to what we’re seeing right now,” Ferraro said. “They’re (economists) anticipating a tempered spring market. There are so many renewals coming up and the renewal shock. Remember, people in 2026 are renewing five-year mortgages from 2021, pandemic time. People at the 1.4 or 1.3 are going to be renewing at current market rates which are sitting in the low to mid 4s. So whatever amount of money they put to towards that mortgage, you better hope it wasn’t just interest-only or principal was paid down, because that balance now after five years is going to be paid at a much higher amount, whether it’s monthly, bi-weekly, or whatever payment terms they have.”

Meanwhile, many eyes are on Canadian prime minister Mark Carney and American president Donald Trump and the upcoming discussions regarding the USMCA trade agreement, which has a mandatory joint review scheduled for July 2026. The American tariffs significantly affected the Canadian economy in 2025, with Canadian company Algoma Steel being the most recent to announce layoffs.

“Don’t let anyone ever tell you they know the interest rates pattern,” Ferraro summarized. “Hundreds of people I have spoken to far more experienced than me have all been wrong. No one can predict it. No one could have predicted the pandemic. And everyone thought when the pandemic happened, that mortgage rates were going to go through the roof. They went the opposite way.  They plummeted. And then the Bank of Canada flat-out said we have no reason to raise rates, rates will remain low until further notice. And then in a blink of an eye, they sky rocketed up.”

AvranceCorp Presents airs Wednesdays at 2:00 p.m. ET on the AvranceCorp YouTube channel.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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TORONTO, ONTARIO – SEPTEMBER 1, 2021 – AvranceCorp Developments proudly announced the official opening of its flagship location at 4205 Keele Street, marking a significant milestone in the company’s ongoing commitment to community-focused development, modern urban design, and sustainable building solutions.

Strategically situated in one of Toronto’s fastest-growing corridors, the new Keele Street location is designed to serve as a central hub for AvranceCorp’s expanding portfolio of residential, commercial, and mixed-use development projects. The facility will house the company’s development, planning, content creation, customer experience, and community engagement teams, offering an accessible space for clients and partners.

“We are thrilled to open our new location at 4205 Keele Street,” AvranceCorp Developments executive vice president Ravi Thakur said. “This space reflects our vision for the future. It’s collaborative, community-driven, and built with sustainability at its core. Toronto continues to be a key market for our growth, and this opening represents our long-term investment in the city and its vibrant neighbourhoods.”

Minutes away from the Keele Street York University campus, the facility is open for client interaction and features a large board room for meetings, a podcasting room for content creation, and several offices to facilitate the management of the Real Estate firm.

The location is also equipped with energy-efficient systems, low-impact design elements, and environmentally conscious material selections, in alignment with AvranceCorp’s commitment to achieving long-term carbon reduction goals across its portfolio.

AvranceCorp Developments emphasized that the Keele Street location will serve as a think-tank platform for deeper collaboration within the various management and development teams.

“Our work is rooted in partnership,” Thakur added. “From housing initiatives to mixed-use communities, our goal is to create spaces that uplift neighbourhoods and empower the people who live in them. This new location will help us strengthen those relationships and accelerate the positive change we aim to deliver.”

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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AvranceCorp Developments Vice Chairman and Acting CEO Ravi Thakur, recently spoke on AvranceCorp Presents, reflecting on a challenging year in the real estate sector and offering bold opportunities for the company in 2026.

Previously on AvranceCorp Presents, Mandy Bujold from the Grand Valley Construction Association and Joe Ferraro from the Sherwood Mortgage Group confirmed clouds of uncertainty from their respective skilled trades and mortgage sectors in 2025. But it was particularly interesting to hear from Thakur, who shared his thoughts from a developer’s perspective.

“The overall feeling in the real estate sector has been, post-COVID, very dormant, hardly moving, and very depressing to say the least,” Thakur said candidly to AvranceCorp Presents host Kenai Andrews. “2025 in my mind has been a year of recalibration, not retreat. Well-capitalized projects, well-structured projects moved forward, while speculative developments slowed down. The key takeaway was discipline. Strong balance sheets, fixed pricing, and conservative assumptions really the mattered the most to move forward than ever.

Thakur also pointed to some interesting projects that AvranceCorp Developments is working on to help the industry forward in 2026. These include AvranceCorp Capital Management (ACM), a financial investment division which raises and manages capital for real estate projects.

Specifically, AvranceCorp Capital Management connects accredited institutional investors with real estate-backed private equity along with structured debt offerings.

“2026 is about execution for us,” Thakur added. “We are advancing our projects in the new year. Capital management and our proprietary tokenization exchange is going to the public opening markets to basically address some of   the structured liquidity in which the current market is facing. By going this route, we can address a multitude of questions.”

“One is the first-time buyer, which has been knocked out of this market. Second, we are going to increase the liquidity to monetize our projects. And also with our proprietary exchange, which has been patented in 250 countries, will pave the way for other real estate companies to come and trade real estate tokens on blockchain, which is highly compliant institutional trade, is the way to deal with these problems head on.”

Season’s Greetings and Happy New Year, from everyone at AvranceCorp Developments.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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TORONTO, ONTARIO – DECEMBER 4, 2025 – The Canadian mortgage industry had a challenging year in 2025, according to Sherwood Mortgage Group Level Two Mortgage Agent Joe Ferraro.

The Sherwood Mortgage Group is a Canadian company founded in 2008. It features a team of over 100 mortgage brokers and agents along with over 50 institutionalized and alternative lenders to secure over a billion dollars a year in financing for their clients.

Ferraro appeared on the Dec. 3 edition of AvranceCorp Presents to talk about his observations and concerns from mortgage clients, while noticing some trends that could linger on in 2026.

“There is uncertainty on so many different levels,” Ferraro explained. “Especially with what’s happening south of the border with how that economy’s working. Who’s in charge over there. The uncertainty with the tariffs and what not. It’s affected everyone and everybody.”

Some of the key American tariffs against Canada include a 50 per cent tariff on Canadian steel that recently forced Canadian company Algoma Steel to lay off 1,000 employees.

Generally, the United States levied a 35 per cent tariff on Canadian goods in 2025, although a lot of products are exempt under the current United States-Canada-Mexico (USMCA) free trade agreement. A mandatory joint review of the USMCA is scheduled for July 2026.

But some recent anti-tariff ads in October featuring late American president Ronald Reagan from Ontario premier Doug Ford angered American president Donald Trump to increase Canada’s levies by 10 per cent over and above current levels.

“As much as we’re trying to say, ‘No, no, no’ … it’s there,” Ferraro added. “Sentiment in the market has always remained. The Bank of Canada, who is notorious for keeping us safe, keeping us in line, they do a good job. No matter how much we can try and say we don’t like them. Between the Bank of Canada, New Zealand, and Australia, they’ve always nailed it.”

“As much as we’re not happy with the current rates right now, what’s happening south of the border and the uncertainty that’s happening up here, whether it’s inflation, whether its unemployment, it all has an effect in the mortgage world and how those rates look.”

The Bank of Canada overnight rate started at 3.25 per cent at the beginning of the year, then went down through a series of 25 basis point cuts in March, September, and October to 2.25 per cent. Dec. 10 is the next scheduled potential rate adjustment.

“It’s situational. Month by month, quarter by quarter, we go with what we have,” Ferraro said. “Hopefully, a pickup in the summer and fall (of 2026). Everyone wants to see a stable market, but what’s happening south of the border is a problem. It impacts us a lot.”

About AvranceCorp Developments

AvranceCorp Developments is a Toronto-based real estate development company with a $4B+ portfolio and 7,000+ residential units in active development. Guided by urban planning principles and a commitment to innovation, AvranceCorp delivers communities that balance affordability, sustainability, and investor value.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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AvranceCorp Developments, a leader in cutting-edge real estate development, is proud to announce its strategic partnership with Lumboa Architects, renowned for their innovative and sustainable architectural designs.

This collaboration represents a significant milestone in the development of future projects that aim to redefine urban living spaces through cutting-edge design, sustainability, and community-centered development.

With a shared commitment to excellence and forward-thinking design, the partnership will leverage the expertise of both companies to deliver visually striking, environmentally sustainable, and functionally superior spaces that meet the needs of modern communities.

Starting with AvranceCorp Developments’ Georgia Bay Terrace project in 2020, Lumbao Architects took over as the principal architect and primarily assisted with the finalization of the site plan approval process. They will also assist with managing the development of the Georgian Bay Terrace through to completion.

“At AvranceCorp, we believe in creating developments that not only meet the needs of today but also anticipate the needs of tomorrow,” AvranceCorp vice chairman and acting CEO Ravi Thakur explained. “Our partnership with Lumboa Architects represents a shared vision of building smarter, more sustainable urban spaces that improve the quality of life for their inhabitants. Together, we are committed to delivering design solutions that are both innovative and environmentally responsible.”

Founded in 2017 and primarily led by principal architect Rommel A. Lumbao, Lumbao Architects is a member of the Ontario Association of Architects, the Royal Architectural Institute of Canada (RAIC), and the Architectural Institute of British Columbia. The team consists of architects, designers, engineers, building technologists, and project managers with over 25 years of experience in the fields of construction, management, engineering, and architecture.

About Lumboa Architects

Founded in 2017, Lumboa Architects is an award-winning architecture firm that specializes in sustainable, forward-thinking design. With a focus on creating functional, environmentally conscious spaces, Lumboa Architects has earned recognition for its innovative use of materials, energy-efficient design, and creative approach to integrating architecture with the natural environment. Their portfolio includes residential, commercial, and civic projects that prioritize both aesthetic appeal and practical functionality.

About AvranceCorp Developments

AvranceCorp Developments is a Toronto-based real estate development company with a $4B+ portfolio and 7,000+ residential units in active development. Guided by urban planning principles and a commitment to innovation, AvranceCorp delivers communities that balance affordability, sustainability, and investor value.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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TORONTO, ONTARIO – DECEMBER 4, 2025 – Helping clients save money is always on the mind of Joe Ferraro at Sherwood Mortgage Group.

Ferraro is a Level Two Mortgage Agent at the Sherwood Mortgage Group, where he primarily helps first-time homebuyers secure mortgage financing, and also helps existing homeowners with mortgage renewals. He shared some of his favourite money-saving tips on the Dec. 3 edition of AvranceCorp Presents.

“Credit is super important,” Ferraro explained to AvranceCorp Presents host Kenai Andrews. “If you have a credit card, make your minimum payment. Try and pay the balance off each month. Keep all of your balances to below 30 per cent. For example, if you have a credit card with a $1000 limit, do not let that balance get above $300. If it’s $10,000, keep it below $3,000. Try not to carry a lot of debt. If you do carry debt, try and make it 30 per cent of the overall limit.”

“Have two trade lines,” Ferraro continued. “One can be a VISA, one could be a Mastercard. One could be an American Express, one could be an unsecured line of credit. Make sure you have two of them because that’s how the Equifax algorithm works.

“The Equifax algorithm is a set of proprietary formulas that help to assess credit risk using factors such as payment history, credit utilization, credit mix, bankruptices, and so on. Equifax typically assigns a certain weight to each factor to calculate a probability score to indicate the risk of an individual defaulting on a loan.

Ferraro also has plenty of smaller yet meaningful ways of piling up some cash that are time-tested.

“When it comes to saving money, if you want to buy a home, create a plan to start saving money,” Ferraro said. “Take a look at the income you have coming in right now and start getting rid of or limiting those expenses that you can really save money on. You don’t need an eight-dollar coffee every day from Starbucks. You can make your own coffee at home. You’d be surprised at how much people can save if they just do things at home.”

“Cook your own meals, stop buying out. Take that money and leave it in the bank account. I would create a separate savings account, meaning if you have a bank account that has a chequing account, but you don’t have a savings account, create a savings account that you simply label: Savings for your home purchase. And every paycheque at minimum, after expenses, a minimum of 10 per cent has to go into that savings account. If you can put more, absolutely fantastic.”

“On the show, Ferraro mentioned a lot more tips, including how to save at mortgage renewal time and as well as sharing how he takes care to educate clients on all facets of homebuying and other mortgage services.

“Work, save, save, work, work, work, save, save,” Ferraro said. “And before you know it, you’ll have a good chunk of money saved up.”

About AvranceCorp Developments

AvranceCorp Developments is a Toronto-based real estate development company with a $4B+ portfolio and 7,000+ residential units in active development. Guided by urban planning principles and a commitment to innovation, AvranceCorp delivers communities that balance affordability, sustainability, and investor value.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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TORONTO, ONTARIO — DECEMBER 9, 2025— Real Estate firm AvranceCorp Developments announced the launch of its renovation services division.

The new renovation services division is an extension of AvranceCorp’s long-standing commitment to quality, craftsmanship, and customer service. By bringing renovation and remodeling in-house, AvranceCorp aims to provide a seamless, end-to-end experience for homeowners seeking to upgrade, modernize, or reimagine their living spaces.

“As our communities have grown, so has the demand for renovation expertise backed by a name homeowners trust,” AvranceCorp Developments vice chairman and acting CEO Ravi Thakur said. “Launching this division allows us to bring AvranceCorp’s signature design excellence and construction standards directly into customers’ existing homes. Whether it’s a kitchen remodel, basement finishing, or a full custom redesign, we’re committed to elevating the way people live.”

The renovation services division offers clients various services such as kitchen and bathroom remodels, basement conversions, whole-home renovations, structural upgrades (including additions, open-concept transformations and floorplan reconfigurations), exterior enhancements, smart home upgrades, and more. Every project is guided by AvranceCorp’s established standards of quality assurance, transparent communication, industry compliance, and client-centered planning.

The renovation services division will initially service clients in the Greater Toronto Area and surrounding regions as well as select markets in Halifax, with plans to expand into additional Canadian markets as demand grows. Homeowners can begin booking consultations immediately through the new AvranceCorp renovation portal..

About AvranceCorp Developments

AvranceCorp Developments is a Toronto-based real estate development company with a $4B+ portfolio and 7,000+ residential units in active development. Guided by urban planning principles and a commitment to innovation, AvranceCorp delivers communities that balance affordability, sustainability, and investor value.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

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TORONTO, ONTARIO — DECEMBER 9, 2025 — AvranceCorp Developments announced a strategic partnership with Eringate Homes to co-develop two premier residential communities: Georgian Bay Terrace, a luxury waterfront-inspired development near Georgian Bay, and Springbank Lux, a nine-storey luxury residential project in London, Ontario.

This collaboration brings together two respected builders known for quality craftsmanship, design innovation, and community-focused development. AvranceCorp Developments and Eringate Homes share a common vision: to create communities where architectural excellence meets exceptional livability.

“Our collaboration with Eringate Homes marks an exciting chapter in AvranceCorp’s growth,” said Ravi Thakur, Vice Chairman and Acting CEO of AvranceCorp Developments. “These projects reflect our mutual dedication to delivering homes that enrich everyday life and stand the test of time. Together, we’re shaping communities that blend modern amenities with natural and cultural surroundings.”

Eringate Homes, a privately held Toronto-based property development and construction firm founded in 2016, brings more than 40 years of combined industry experience to the market. The company’s expertise spans residential and commercial construction, industrial, and infrastructure projects. As the general contractor for AvranceCorp, Eringate Homes will oversee key phases of construction for both developments.

• Georgian Bay Terrace: A five-story boutique residence with 150 luxury suites located at 1 Legion Road in Meaford, Ontario.
• Springbank Lux Condos: A nine-storey luxury residential project featuring 175 condo suites, 11 luxury townhomes, and four ground-floor commercial units. Currently in pre-construction, it is situated within walking distance of the scenic Thames River and just eight minutes from downtown London, Ontario.

Forward-Looking Statements

This release may contain forward-looking statements relating to the future performance of the Georgian Bay Terrace project. Such statements involve risks and uncertainties, and actual results may differ materially due to various factors including regulatory changes, construction timelines, and market shifts.

About AvranceCorp Developments

AvranceCorp Developments is a Toronto-based real estate development company with a $4B+ portfolio and 7,000+ residential units in active development. Guided by urban planning principles and a commitment to innovation, AvranceCorp delivers communities that balance affordability, sustainability, and investor value.

Media Contact

Kenai Andrews
Director, Media & Investor Relations
AvranceCorp Developments
📧 kenai@avrancecorp.com
📞 647-368-8888

Previous Press Releases