 | |
| Company type | Public |
|---|---|
| TSX: DRM | |
| Industry | Real estate development |
| Founded | 1996 |
| Headquarters | |
Key people | P. Jane Gavan, President, Asset Management; Ana Bailão Former Head of Affordable Housing & Public Affairs (Jan to March 2023) |
| Total assets | $28B (2025 [1] ) |
Number of employees | 551 (2022) [2] |
| Website | dream |
Dream Unlimited Corporation is a Canadian real estate development company that is developing the Waterfront Toronto property on Lake Ontario. It manages $15 billion of real estate assets.
Dream Unlimited was founded in 1994. [3]
In 2021, Dream Unlimited had $15 billion of assets under management, $9 billion of which are fee earning. [4] It owned 11.2 million square feet of commercial rentable real estate, including 26,018 residential rental units. [4]
By 2021, it has completed construction of $38 billion of commercial real estate and renewable energy infrastructure. [4]
In January 2022, the company launched the Dream Community Foundation, not-for-profit organization. [5]
In January 2023, Toronto's former deputy mayor Ana Bailão joined Dream Unlimited as the head of affordable housing and public affairs. [6] Bailão resigned from her role in March 2023, as she announced her campaign to be the next mayor of Toronto. [7]
In April 2023, tenants of the company's residential tower block on 33 King Street, Toronto protested after the Dream Unlimited sought permission from the Landlord and Tenant Board to implement rent increases higher than the board's normal maximum. [8]
In 2019, Dream Unlimited proposed three designs to the City of Toronto to develop a downtown Toronto multi-storey property at 49 Ontario Street. [9]
In December 2022, Dream Unlimited was approved by Waterfront Toronto to develop 12 acres of lakeside Toronto that Google subsidiary Sidewalk Labs abandoned plans to develop in 2020. [10] Dream Unlimited will develop the land with Great Gulf Group, both companies will operate as Quayside Impact Limited Partnership. [11] [12] The project plans to incorporate 800 affordable residences. [13]
Along with Diamond Corporation, FRAM + Slokker, and the Kilmer Group, Dream Unlimited are developing a 72 acre housing development in Mississauga known as Brightwater Community. [14]
In June 2023, over 200 tenants at 33 King Street, a residential building associated with Dream Unlimited Corp., began withholding rent in protest over what they described as abnormal rent increases and maintenance concerns. [15] [16] [17] Tenants of the neighbouring building at 22 John Street later joined the action. [18] On 15 July 2023, participants marched from the two buildings to the constituency office of local MPP Michael Ford and to the office of then–federal housing minister Ahmed Hussen. [19]
Dream stated that several above-guideline rent increase (AGI) applications at 33 King Street were originally submitted by a previous landlord, and that the company offered individual hardship or extended-payment arrangements. [20]
In September 2023, four months after the rent strike began, Toronto mayor Olivia Chow convened a mediation meeting. Dream Unlimited was invited but did not attend. [21] The rent strikes continued into 2024; by January 2024, 76 active L1 eviction applications for 33 King Street had been filed with the Landlord and Tenant Board by Dream. [22]
Subsequent media coverage reported that the rent strike lasted more than a year and concluded after roughly sixteen months. Organizers described the resolution as “amicable,” although full settlement details were not publicly disclosed. [23]
In September 2024, The Breach reported that the property manager for 22 John Street said they were using YieldStar — RealPage’s rent-pricing software — to calculate estimated market rents.
In Canada, the Competition Bureau concluded its November 2025 civil investigation into rental-housing algorithmic pricing, finding that although software from RealPage and Yardi became more common, their adoption was not sufficiently widespread to demonstrate harm to competition, and no abuse of dominance or anticompetitive collaboration was established. [24]