Fitzrovia (company)
| Type | Privately held company |
|---|---|
| Industry | Real estate |
| Founded | 2017 |
| Founder | Adrian Rocca |
| Headquarters | , |
Area served | Toronto |
| Products | Purpose-built rentals |
| Website | fitzrovia |
Fitzrovia is a Canadian real estate company. The company develops and manages purpose-built rental in Toronto and Montréal.[1][2] As of 2025, it had completed, acquired, or was developing approximately 10,000 rental units across a $11-billion real estate portfolio.[3][4]
History
Fitzrovia was founded in 2017 by Adrian Rocca, a former executive at Tricon Residential and Apollo Global Management.[3][2]
Its first completed building, the 15-story Waverley at College & Spadina near University of Toronto, was opened in 2021 with 166 units and the re-development of the historic Silver Dollar Room.[5]
In November 2024, Fitzrovia launched the first project funded from its DevCore Fund, a roughly $1.1-billion vehicle backed by pension plans. 135 St. Clair Avenue West was acquired by Fitzrovia via a 100-year ground lease and is slated for re-development into a 49-storey apartment tower with 600 units.[4]
In June 2025, Fitzrovia announced a national expansion of purpose-built student housing into secondary Ontario markets London, Kingston, Guelph, and Kitchener-Waterloo.[2]
Properties
Multi-family rental
Since 2017, the company has built 19 purpose-built rental buildings in Toronto. Actively leasing communities include “Waverley”, “Parker” near Yonge & Eglinton, and “Elm-Ledbury” near Queen & Church; and “Sloane” near Yorkdale Mall which opened in January 2025.[6] At this community, Fitzrovia is targeting downsizers and older renters.[7]
Projects currently under construction include four buildings at Bloor and Dufferin and four buildings at Main and Danforth in Toronto.[8]
Student Housing
Fitzrovia’s student portfolio operates under its Waverley brand. New projects underway include Waverley Western in London with 35 storeys, 512 units and a planned move-in date of 2029; and Waverley Queen’s in Kingston with two 10-storey buildings and 508 units on Princess Street that expect to be completed by fall 2028. Fitzrovia plans to invest $150–$200 million in each project.[2]
References
- ↑ Gordon, Dave (June 26, 2025). "Developer makes his pitch: Renting our way out of the Canadian housing crisis". National Post.
- 1 2 3 4 "Fitzrovia expands student housing ahead of expected residence shortfall". The Globe and Mail. 2025-06-30. Retrieved 2025-09-22.
- 1 2 "Developer tells Canadians priced out of home ownership: It's OK to rent". financialpost. Archived from the original on 2024-03-27. Retrieved 2025-07-14.
- 1 2 "Toronto real estate developer Fitzrovia launches $1-billion fund to build up city's rental stock". The Globe and Mail. 2024-11-17. Retrieved 2025-07-14.
- ↑ McLean, Steve. "The Waverley heads up busy 2021 for Fitzrovia Real Estate". renx.ca. Retrieved 2025-09-22.
- ↑ Feinstein, Clarrie (2025-01-29). "Three new Toronto rental towers will focus on two- and three-bedroom units. Here's why the developer sees a future in renting". Toronto Star. Retrieved 2025-07-27.
- ↑ Marr, Garry (March 25, 2026). "Garry Marr: Why boomers are slow to downsize in Canada".
- ↑ Feinstein, Clarrie (2025-08-09). "This rental developer is rapidly expanding in Toronto — leading to friction with some long-term tenants". Toronto Star. Retrieved 2025-08-11.