By Burnac Breaks Ground on The Bedford Amid Shifting Toronto Market

TORONTO, ON – February 18, 2026 – In a bold move that signals confidence in Toronto's high-end real estate sector, family-owned developer By Burnac has officially broken ground on The Bedford, a 13-storey luxury condominium at the nexus of the city's prestigious Yorkville and Annex neighborhoods. The commencement of construction at 287 Davenport Road comes at a time when Toronto's broader condominium market is facing significant headwinds, making the project a notable bellwether for the enduring appeal of bespoke, service-rich living.

While the Greater Toronto Area has seen new condo sales plummet to multi-decade lows and a record number of project cancellations in the past year, The Bedford's progression underscores a growing bifurcation in the market. Developers are now contending with a market where buyers have become highly selective, prioritizing tangible value over speculative hype. It is within this demanding environment that By Burnac is advancing its vision of a limited collection of private residences defined by craftsmanship, space, and hotel-calibre amenities.

"We're proud to have reached this milestone for The Bedford," said Ted Burnett, President of By Burnac, in a statement. "This is a deliberately limited collection, shaped by thoughtful design and exceptional craftsmanship. Every detail is being executed with timelessness in mind – the kind of quality and restraint that endures over time and rewards long-term ownership with exceptional value."

A Bet on Fundamentals in a Cooling Climate

The groundbreaking for The Bedford occurs against a backdrop of market correction. Recent data paints a stark picture for the general Toronto condo market, with new construction sales in 2025 hitting their lowest quarterly volume since 1995 and unsold inventory reaching a record high. This has led to a significant slowdown in construction starts and a wave of project deferrals and cancellations, prompting some analysts to forecast a potential supply crisis in the years ahead.

However, the luxury segment has proven to be remarkably resilient. Reports from luxury real estate brokerages indicate that premium properties in established neighborhoods like Yorkville have not only maintained their value but have, in some cases, outperformed the wider market. This resilience is attributed to a different class of buyer—often less leveraged, less sensitive to interest rate fluctuations, and more focused on long-term value and lifestyle. Yorkville remains one of Toronto's highest price-per-square-foot submarkets, buoyed by its high-end retail, cultural assets, and limited land availability.

By Burnac's decision to move forward appears to be a calculated bet on these fundamentals. The project targets a discerning clientele, including many local downsizers from affluent neighborhoods like Rosedale and Forest Hill, who seek the convenience of single-level living without sacrificing the space, quality, and privacy of a detached home. This focus on the end-user, rather than the investor, is a key differentiator in today's climate.

"In today's environment, projects that move forward are the ones built on fundamentals that buyers actually care about," noted Zachary Burnett, Vice President of Development at By Burnac. "With construction now underway, The Bedford will be a limited collection of true homes in the sky – generous, functional residences with proportions designed for real day-to-day living."

Parisian Elegance and Bespoke Design

To create a building that resonates with its historic surroundings while offering a contemporary living experience, By Burnac has enlisted a team of celebrated designers. The architecture is being led by Audax, a firm known for its philosophy of "Human Architecture," which champions the return of classical principles like symmetry, proportion, and rich materiality to modern design. For The Bedford, Audax drew inspiration from the grand Parisian Haussmann buildings of the 19th century, aiming to create a facade with timeless elegance and a strong, dignified street presence that complements the character of the Annex.

The interiors are the vision of Studio Paolo Ferrari, a globally recognized, award-winning firm that has crafted spaces for luxury brands like Four Seasons and Raffles. Known for creating immersive and emotionally resonant environments, the studio's approach for The Bedford focuses on a refined palette of natural materials, subtle textures, and artfully curated details. The design philosophy prioritizes a sense of calm, serenity, and understated luxury, moving away from fleeting trends in favor of enduring style. This attention to detail was first showcased in the project's presentation gallery, which was conceived as a sensorial journey into the world of The Bedford rather than a traditional sales office.

This collaboration between Audax and Studio Paolo Ferrari ensures a cohesive aesthetic, where the building's stately exterior is matched by interior spaces that feel both sophisticated and deeply personal, reflecting the developer's aim to create homes of lasting quality.

Redefining Luxury with Hotel-Calibre Service

A central pillar of The Bedford's value proposition is its comprehensive suite of services, designed to offer residents an effortless, hotel-inspired lifestyle. This model goes far beyond a standard front-desk concierge, representing a growing trend in the ultra-luxury market where service is as important as the physical residence itself.

In partnership with The Forest Hill Group, a firm specializing in managing high-end residential properties, The Bedford will provide a highly personal service infrastructure. This includes 24-hour valet parking, a dedicated porter staff to assist with deliveries and luggage, and a concierge team capable of managing everything from restaurant reservations and wellness bookings to coordinating in-home services. This level of attention is designed to provide residents with convenience, security, and peace of mind.

"In partnership with The Forest Hill Group, we're delivering a service model that feels highly personal and thoughtfully managed," added Zachary Burnett. "From reservations and wellness bookings to the day-to-day details that make life easier, our focus is to provide a seamless and effortless resident experience."

This emphasis on a managed lifestyle is a key differentiator that appeals directly to affluent buyers who value their time and seek a turnkey living solution. By integrating these services into the building's core identity, The Bedford is not just selling real estate; it is selling a curated lifestyle, positioning itself at the apex of a market where experiential luxury is the new standard.