News

November / 2018

The Morassutti Group and North Drive have relocated their offices to 1988 Bloor Street West, Toronto which is the commercial component of North Drive’s condominium project-The High Park.

Summit REIT’s unit price establishes an intraday and closing high.

October / 2018

Summit REIT’s unit price reaches another high.

September / 2018

North Drive’s condominium project-One Forest Hill-has been awarded Project of the Year, Best Advertising Campaign, Best Project Video and Best Website by the Ontario Homebuilders’ Association.

The Picnic condominium project is topped off. North Drive closes on 36 Birch Avenue in the prestigious Yonge-Summerhill area of Toronto. This will be developed as a luxury four-storey stacked townhouse development with architecture by Richard Wengle.

August / 2018

North Drive’s condominium project – One Forest Hill – is nominated by Ontario Home Builders’ Association for five awards: People’s Choice Award, Project of the Year, Best Ad Campaign, Best Website and Best Project Video.

July / 2018

Construction is progressing well at One Forest Hill, Picnic, 4 The Kingsway and Yorkville Park.

June / 2018

Summit REIT’s unit price reaches another high. Summit REIT completes its largest equity offering raising $115 million. The Morassutti Group adds to its ownership interest in the REIT.

May / 2018

North Drive's condominium project One Forest Hill wins two BILD awards - Best Sales Video and Best Digital Media Campaign.

April / 2018

North Drive has entered into a contract to purchase 36 Birch Avenue in the prestigious Yonge-Summerhill area of Toronto. This will be developed as a luxury boutique condominium project with architecture by Richard Wengle. Summit REIT's unit price reaches another record high.

March / 2018

One Forest Hill has been nominated for 5 BILD Awards: Best Luxury Suite Design; Best Overall Marketing Campaign; Best Sales Video; Best Digital Media Campaign; and Best Public Relations Campaign.

February / 2018

Construction has commenced for the One Forest Hill condominium project and construction is progressing well at Picnic, 4 The Kingsway and Yorkville Park.

January / 2018

Abacoa Golf Club sets a record for revenue in 2017. Summit REIT's unit price reaches another record high.

December / 2017

The Morassutti Group has successfully sold 49 St. Clair Avenue West in Toronto. Summit REIT completes its largest equity offering raising $103.5 million. The Morassutti Group adds to its ownership interest in the REIT.

November / 2017

Summit REIT's unit price reaches another record high.

October / 2017

North Drive's presentation gallery for One Forest Hill has opened at 49 St. Clair Avenue West. The public launch for newly released units was very successful. Also, Summit REIT’s unit price reached another record high

September / 2017

Summit REIT's unit price reaches another record high. The Ontario Home Builders' Association awards North Drive the Most Outstanding Mid-Rise Building in 2017 for 4 The Kingsway and also awards North Drive the Most Outstanding High or Mid-Rise Suite in 2017 for the Penthouse Unit at 4 The Kingsway.

August / 2017

North Drive has entered into an unconditional agreement to purchase the northeast corner of Forest Hill Road and St. Clair Avenue West in the prestigious Forest Hill area of Toronto. This will be developed as a luxury boutique condominium project known as One Forest Hill with architecture by Richard Wengle and interior design by Brian Gluckstein. North Drive is also an Ontario Home Builders' Association Awards finalist for Most Outstanding: Mid-Rise Building, High or Mid-Rise Condo Suite and High or Mid-Rise Condo Suite Kitchen. Finally, North Drive's The High Park condominium project is registered. As well, Summit REIT's unit price reaches another record high.

July / 2017

Construction is progressing well at the Picnic, Yorkville Park and 4 The Kingsway condominium projects. The Morassutti Group's Village Gate Apartments is named as the best apartment building in Bloor West Village in Toronto.

June / 2017

Summit Industrial Income REIT raises $69 million in an equity offering. The Morassutti Group adds to its ownership interest in the REIT.

May / 2017

Summit REIT's unit price reaches another record high.

April / 2017

The Morassutti Group commences renting its condominium units at The High Park. Summit REIT's unit price reaches a record high for the year.

March / 2017

North Drive is nominated for a BILD award for best luxury suite design for the penthouse at 4 The Kingsway.

February / 2017

The High Park condominium project is nearing completion with occupancies starting mid April.

January / 2017

Summit Industrial Income REIT raises $46 million in an equity offering. The Morassutti Group adds to its ownership interest in the REIT.

December / 2016

The Morassutti Group has successfully sold 316 The Kingsway. The Abacoa Golf Club sets a new record for revenue in 2016.

November / 2016

The Morassutti Group has successfully sold 300 and 313 The Kingsway. The Morassutti Group adds to its holdings in Summit REIT.

October / 2016

North Drive's presentation gallery and model suite for 4 The Kingsway has opened. The public launch for newly released units was very successful.

September / 2016

4 The Kingsway commences construction. North Drive now has four condominium projects under construction (The High Park, Yorkville Park, Picnic-The High Park II and 4 The Kingsway). In addition, the presentation gallery and model suite for 4 The Kingsway will open later this month. Also, North Drive and Minto win the Ontario Home Builder's Association award for the best High-Rise Project of the year for Yorkville Park.

August / 2016

The Ontario Home Builder's Association nominates North Drive and Minto for Yorkville Park as best High-Rise Project and best Designed Suite for 2016. Picnic-The High Park II commences construction. The Morassutti Group's retail space at 49 St. Clair Ave. W. has been leased to Raiders E-Sports Centre which will be Toronto's largest eSports bar.

July / 2016

The High Park construction team enjoys a topping off ceremony. Summit REIT's unit price reaches a record high for the year.

June / 2016

The Morassutti Group is bringing 300, 313 and 316 The Kingsway to the market for sale.

May / 2016

Summit Industrial Income REIT announces a $30 million equity offering.

April / 2016

North Drive wins the BILD award for the Best Luxury Suite for The High Park.

March / 2016

North Drive is nominated for 2 BILD awards. One is the Best Midrise Building Design for Picnic and the other is the Best Luxury Suite for The High Park.

February / 2016

Plans for the commencement of construction of the presentation gallery and model suite for 4 The Kingsway are underway.

January / 2016

Construction is progressing well at The High Park; demolition is complete at Yorkville Park; and plans to commence construction at Picnic and 4 The Kingsway are well underway.

December / 2015

Abacoa Golf Club completes additional upgrades resulting in record revenue in 2015 and a waiting list for new members.

November / 2015

Picnic-The High Park ll is now over 80% sold.

October / 2015

Yorkville Park is over 85% sold. The presentation gallery and model suite for Picnic-The High Park II will be open to the public on November 7th.

September / 2015

The presentation gallery and model suite for Picnic-The High Park II are under construction and the floor plans are being finalized.

August / 2015

The Morassutti Group becomes the largest owner of Summit Industrial Income REIT. Summit is a publicly listed REIT in Canada - Summitiireit.com

July / 2015

4 The Kingsway and Picnic - The High Park II are unanimously approved at Toronto City Council.

June / 2015

Registration for North Drive's newest boutique condominium Picnic - The High Park II commences. Picnic - The High Park II will comprise an 8 storey building with 68 suites located two blocks from North Drive's very successful condominium The High Park.

May / 2015

Yorkville Park commences demolition/construction.

April / 2015

The Morassutti Group increases its ownership interest in Summit Industrial Income REIT. Summit is a publicly listed REIT in Canada.

March / 2015

North Drive is nominated for 5 BILD awards including Best Suite Design over 1,500 sq. ft. and Best Townhome Design over 1,500 sq. ft. for 4 The Kingsway and Best P2G Community of the Year, Best Direct Mail and Best Website for Yorkville Park.

February / 2015

Abacoa Golf Club completes a 1 million dollar upgrade and is named as one of the top ten golf courses in Palm Beach County.

January / 2015

North Drive and Minto win Best Overall Advertising Campaign for Yorkville Park at NAHB National Sales and Marketing Council Awards.

December / 2014

The High Park is under construction.

November / 2014

North Drive launches 4 The Kingsway.

October / 2014

North Drive and Minto launch the Yorkville Park project.

September / 2014

North Drive has entered into a Partnership with Minto to co-develop Yorkville Park located on the corner of Cumberland and Bellair in Yorkville. This will be a 25-storey boutique residence containing 200 units.

August / 2014

4 The Kingsway is approved at Etobicoke York Community Council.

July / 2014

The High Park is over 80% sold.

May / 2014

The High Park wins the BILD award for best model suite. The High Park model suite also wins the Bronze A' Design Award. The A' Design Awards are an international design awards organization based in Italy.

April / 2014

Final floor plan release including penthouses for The High Park. The High Park is nominated for three BILD awards including best sales centre, model suite and suite design between 750-1,500 square feet.

March / 2014

Submission of building permit for The High Park.

February / 2014

The High Park is now over 70% sold.

December / 2013

The High Park is approved at Toronto City Council.

November / 2013

The High Park is approved at Etobicoke York Community Council.

September / 2013

4 The Kingsway is in the registration phase - 4thekingsway.com

July / 2013

The High Park is 60% sold-out.

June / 2013

North Drive launches The High Park.

June / 2013

North Drive submits rezoning application for 4 The Kingsway. The project will be designed by Richard Wengle and Brian Gluckstein.

November / 2012

North Drive purchases 2800 Bloor St W for $4.56 million, a development site currently approved for a 7-storey residential building located where Bloor St W meets The Kingsway.

September / 2012

The Morassutti Group purchases a 50% interest in Abacoa Golf Club (Jupiter, Florida).

July / 2012

The Morassutti Group sells 268 Poplar Plains Road, a 59-unit, 10-storey apartment building at Avenue Road / St. Clair Avenue West for $12.1 million reflecting a capitalization rate of 3.5%.

March / 2012

North Drive submits rezoning and site plan approval applications for 1990 Bloor St W / 26 Parkview Gdns. North Drive submits rezoning application for 2114 Bloor St W.

November / 2011

North Drive submits rezoning and site plan approval applications for 1990 Bloor St W / 26 Parkview Gdns. North Drive submits rezoning application for 2114 Bloor St W.

October / 2011

North Drive purchases 2114 Bloor Street West, 20,000 sf, 2-storey commercial property across from High Park for $7.4 million reflecting a capitalization rate of 6.5%.

September / 2011

North Drive purchases 1990 Bloor St W for $4.8 million and enters into a forward purchase agreement to acquire 26 Parkview Gardens.