Parallax Development Corporation
Parallax Development Corporation is a real estate development company that has diverse assets throughout Canada and the United States. They pride themselves on their varied portfolio and their ability to get things done. They began as a company that was primarily concerned with the development of retail shopping plazas, but today they have become so much more.
This developer was originally started by Owen Lawson over 30 years ago. He and his partners approached real estate development with a sense of frivolity and companionship that rubbed off on Owen’s two sons, Stafford and Nigel. Behind the boardrooms and contracts, Owen and his partners would go into the ground level of the construction sites and bet on things like how many rats they could catch.
Although they always knew that they wanted to pursue the real estate industry with their father, Nigel and Stafford also knew that it was important to earn it on their own terms rather than being handed something because of their birth.
Stafford always aspired to join his father, and he proved it by taking jobs in construction in high school. The jobs were far from glamorous, as he mostly picked up garbage in the construction sites and filed off paint from radiators. After high school, he completed an Undergraduate degree and McGill University, and then a Master’s of Science in Real Estate Development at Columbia University in New York. This is where he met his future business partner Michael Binder.
Together Stafford and Michael approached Owen about new ideas in which to take the company, and they joined the company shortly after graduating from Columbia.
Nigel chose to become a lawyer and graduated from the University of New Brunswick Law School. He practiced real estate law until he felt he was ready to join his family’s company in 2010. Both brothers understand the importance of hard work and post secondary education.
Since Stafford, Nigel, and Michael joined Parallax, the company has gone from a front-end development company that focused on retail, to a company that now sees projects all the way through to completion with a wide and varied portfolio. They have gone from focusing on retail plazas to having a portfolio that comprises of street front retail, office buildings, mixed-use facilities, high-rise and mid-rise residential buildings, and public-private partnerships. The portfolio culminates in 75 completed projects with an additional $200 million in various stages of development. They have also gone beyond the Toronto market and now hold assets throughout Canada and the United States.
This is a nimble and creative company that has proven they can see a multitude of projects through to completion without being constrained to a single market, or even a single nation. With Owen’s experience, and Stafford, Nigel, and Michael’s youth and ability to anticipate the future, this is a company that is sure to continue going far in the industry.
This residential mid-rise stands at 11 storeys and offers 89 boutique condos in the edge of the Entertainment District. The building also borders on the coveted Queen West neighbourhood, so residents will enjoy a diverse urban landscape featuring a variety of shops, gourmet restaurants, and other modern conveniences. The condos feature granite countertops and stainless steel appliances in the kitchens, contemporary designs with modern dual flush toilets in the bathrooms, and ceilings that can soar up to twelve feet. Amenities include a BBQ area, party room, lounge, and concierge. It is located at 508 Wellington Street W., and construction was completed in 2013.
540 College Street
This repurposed mixed use building sits in the south corner of Little Italy. It was retrofitted to contain street front retail, office space, and residential condos. It borders on Kensington Market so you’re also close to plenty of eclectic shops and cafes. It is located at 540 College Street and it was completed in 2014.
The Diamond at Don Mills
This shopping centre gets back to this developer’s roots as it is a 55,000 square foot retail condominium area. It features plenty of natural traffic as it is minutes away from the Don Valley Parkway. It was build from the ground up as a new development. It is located at 1390 Don Mills Road and it was completed in 2013.
All New Condo Developments By Parallax Development Corporation
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