13 Mar Zev Mandelbaum’s new firm plans Toronto, Jersey City projects
Toronto-based developer Zev Mandelbaum’s newest venture, Altree Developments, has released details of three new multi-residential and mixed-use development projects it is planning for Toronto and New Jersey.
The projects are: 2 Forest Hill Road, as well as 30 & 44 Zorra Street in Toronto, and West Side Arts in Jersey City, N.J.
“It is a great privilege and honour to be able to bring these three iconic projects to life, creating beauty among three distinct neighbourhoods,” said Mandelbaum, president and CEO of Altree, in a release Wednesday. “At Altree Developments, we are dedicated to seeking out projects that allow us to build a meaningful experience within each community we enter, offering residents a locale to live, dream and thrive.”
Forest Hill development, Toronto
Following the acquisition of six residential properties at St. Clair Avenue and Forest Hill Road, the Altree Forest Hill development is proposed as a luxury, nine-storey mid-rise building. It would contain approximately 75 units, spanning 1,000 to 4,000 square feet.
One of the key features will be expansive terraces, introducing outdoor areas to every living space.
The intersection of St. Clair and Forest Hill is also the site of another luxury condo project, One Forest Hill by North Drive, which is in pre-construction.
30 & 44 Zorra, Toronto
Plans for the 30 & 44 Zorra Street Development, located at The Queensway and Islington in Etobicoke consist of a 35-storey tower containing 340,000 square feet of gross residential floor area. It will offer a mix of studio, one-bedroom, two-bedroom, and three-bedroom units.
30 & 44 Zorra Street will be located in The Queensway neighbourhood, an easily accessible community that delivers extensive retail offerings and nearby public green spaces.
The street is also the site of other major developments, including the IQ Condos Phase III by The Remington Group, across the road at 45 Zorra. IQ will contain nearly 1,000 units.
Jersey City West Side Arts
Altree’s Jersey City West Side Arts development will be situated in Journal Square and the emerging Mana Contemporary Art District. It will consist of five buildings which include approximately 500 residential rental units, ranging between 450 and 1,300 square feet, along with approximately 50,000 square feet of retail and gallery spaces.
With close proximity to Mana Contemporary, Jersey Square and Lincoln Park, the development will be just 11 minutes from Wall Street and 23 minutes from Penn Station, Altree says.
Mandelbaum development history
Mandelbaum’s Altree Developments, launched in late 2018, continues a 70-year family legacy in the development industry, including H&R REIT (HR-UN-T), founded by his grandfather Sandy Hofstedter; and Lanterra Developments, founded by his father Mark Mandelbaum.
Prior to the launch of Altree, Zev Mandelbaum previously held roles as co-founder, chief operating officer and principal at at Toronto-based developer Marlin Spring, and commercial division lead at Lanterra Developments.
Altree is a full-service developer providing insight, expertise, and service throughout the full spectrum of development – from strategic acquisition to planning, construction and development, sales and marketing and finance structuring. The firm plans to create residential, commercial, and retail projects.