LCH Developments and Fiera Real Estate Announce Strategic Partnership to build ‘Retreat’ – a Purpose-Built Rental Community in Scarborough’s Cliffcrest Neighbourhood

Institutional capital partnership advances 320-unit purpose-built rental project in Scarborough’s Cliffcrest neighbourhood, bringing together LCH Developments’ local development platform with Fiera Real Estate’s Canadian Built Opportunities Fund

Toronto, ON – June 29, 2026 — LCH Developments (“LCH”) and Fiera Real Estate’s Canadian Built Opportunities Fund (“Fiera Real Estate”) are pleased to announce a strategic partnership for the development of Retreat Rentals, a 320-unit purpose-built rental community located at 2-4 Windy Ridge Drive in Toronto’s east end.

The partnership represents a significant milestone for the project and reflects strong institutional confidence in the long-term fundamentals of purpose-built rental housing in the Greater Toronto Area.

The transaction brings together LCH’s local development expertise, integrated construction management platform, and deep knowledge of the Scarborough market with Fiera Real Estate’s institutional investment capabilities and experience across Canadian urban multi-residential development.

“Strong partnerships are built on alignment, execution and a shared commitment to the communities we are building in,” said Michal Wywrot, Managing Partner of LCH Developments. “Partnering with Fiera Real Estate is an important milestone for both our company and Retreat. The Partnership brings a strong validation of the quality of the project, the strength of the team, and the long-term need for new rental housing in the GTA. This partnership combines institutional capital with a hands-on local development and construction platform, and we are excited to move the project forward.”

Retreat is planned as a high-quality mid-rise rental community in Scarborough’s Cliffcrest neighbourhood along the Kingston Road corridor. The project will deliver 320 new rental homes in an established east-end community that has seen limited new multifamily rental supply. Residents will benefit from close access to nearby retail, schools, transit, the Eglinton GO Station, and the natural setting of the Scarborough Bluffs.

Located 100m from the Doris McCarthy Trail, which connects directly to the shores of Lake Ontario, Retreat will offer residents access to the ravine and waterfront landscape that defines the surrounding neighbourhood. With its connection to nature, established community fabric, and views toward the lake, the project is intended to offer a quieter, more residential rental living experience while contributing to the continued evolution of the Kingston Road corridor.

The partnership also reflects the importance of construction readiness and execution capacity in today’s development environment. LCH’s affiliated construction management platform brings in-house project delivery expertise and a mandate to support a broad range of Canadian union trades. The project is expected to create meaningful construction activity and trade opportunities in the Greater Toronto Area while advancing a major rental housing development through a disciplined, locally led execution strategy.

“At LCH and Elevate, we believe that delivering much-needed rental housing also means creating meaningful work for the skilled trades that build our communities,” said Lukasz Wywrot, Managing Partner of LCH Developments and Elevate Construction Management. “Retreat is an opportunity to support The United Brotherhood of Carpenters and Joiners of America, along with a broad range of Canadian union trades, by bringing disciplined construction activity, stable trade opportunities, and locally led execution to a major GTA housing project.

‘’Retreat represents the type of high-quality residential investment we seek to advance: well-located, needs-based housing in a market with compelling long-term fundamentals,” said Pierre Pelletier, Senior Managing Director and Head of Development and Debt, Fiera Real Estate. “We are pleased to partner with LCH Developments on a project that combines strong local execution, durable rental demand, and the opportunity to deliver attractive long-term outcomes for residents, the community, and our investors.’’

Together, LCH Developments and Fiera Real Estate are advancing Retreat with a shared vision of delivering a well-designed, professionally managed rental community that responds to the needs of today’s renters and contributes positively to the surrounding neighbourhood.

Construction is anticipated to commence in Fall 2026, marking the next phase in bringing Retreat to life.

About LCH Developments

LCH Developments is a Toronto-based real estate development firm focused on the acquisition, development and delivery of high-quality residential communities across the Greater Toronto Area. With an integrated platform spanning development, construction management, financing, project execution and asset oversight, LCH brings a hands-on approach to complex urban infill projects.

Through its affiliated Elevate Construction Management platform, LCH supports project delivery with in-house construction expertise, strong trade relationships, and a focus on disciplined execution from pre-construction through completion. The firm is committed to creating long-term housing value, supporting local construction activity, and delivering communities that respond to the needs of residents and neighbourhoods.

About Fiera Real Estate

Fiera Real Estate is a leading investment management company with offices in North America, Europe and Asia, and a team of over 100 employees. The firm manages over C$8.2 billion of commercial real estate globally through a range of funds and accounts as at March 31, 2026.

The highly diverse nature of its portfolio — geographies and asset types — combined with a range of high-quality strategies provides investors with opportunities to diversify their exposure and customize their investment experience within the real estate asset class. Fiera Real Estate is wholly owned by Fiera Capital Corporation, a leading independent asset management firm.