06:42 AM EDT, 08/12/2025 (MT Newswires) -- Dream Unlimited ( DRUNF ) overnight Monday signed a joint venture with CentreCourt Developments to co-develop 49 Ontario St., a mixed-income purpose-built rental community in downtown Toronto.

"49 Ontario St. will deliver much-needed market rental and affordable housing to downtown Toronto, and we're excited to be partnering with Dream to make it happen," said CentreCourt President Gavin Cheung.

The companies said they are working together to identify and pursue additional purpose-built rental opportunities in anticipation of the policies announced or under consideration by various levels of governments aimed at accelerating housing development.

Dream Impact Trust , the current owner of the redevelopment site, secured up to $647.6 million in government-affiliated financing earlier this year and obtained waivers for development charges from Toronto for the 800,000 square feet multi-family project.

Shares of the company closed up 0.4% to $21.12 on Monday on the Toronto Stock Exchange.