OUR STRATEGY
A model built to repeat.
Not reinvent.
Most developers start from scratch on every project. We don't. Voros Group runs a standardized, as-of-right development model, purpose-built for missing middle rental housing, that gets more efficient with every cycle.
Standardized designs.
Different lots.
THE MODEL --------------
We develop 3-storey, wood-frame, purpose-built rental buildings under Part 9 of the Ontario Building Code. Every project follows one of three standardized formats, sized to the lot, with the same structural approach, mechanical systems, and construction sequence repeated each time.
We pursue as-of-right development with minor variances only. No rezoning. No site plan approval. No 3–4 year entitlement timelines. The permissions are already there, we build what the zoning allows.
This is closer to building spec homes than traditional development. The model scales through disciplined repetition, not complexity.
Same playbook.
Every time.
Standardization compounds. Every completed project reduces cost, timeline, and execution risk on the next.
10 Unit Model
Ten rental units in a single building. Set up as an apartment building with a scissor staircase, common hallways and entrances.
8+1 Model
Eight rental units plus a garden or laneway suite. This configuration can be set up as a stacked townhouse or apartment building depending on site conditions.
6+1 Model
Six rental units plus a garden or laneway suite. Each unit has a dedicated entrance similar to a stacked townhouse model.
THE MODEL --------------
Standardized designs.
Different lots.
We develop 3-storey, wood-frame, purpose-built rental buildings under Part 9 of the Ontario Building Code. Every project follows one of three standardized formats, sized to the lot, with the same structural approach, mechanical systems, and construction sequence repeated each time.
We pursue as-of-right development with minor variances only. No rezoning. No site plan approval. No 3–5 year entitlement timelines. The permissions are already there, we build what the zoning allows.
This is closer to building spec homes than traditional development. The model scales through disciplined repetition, not complexity.
6+1 Model
Six rental units plus a garden or laneway suite. Each unit has a dedicated entrance similar to a stacked townhouse model. This model falls under the development charge exemption in City of Toronto.
8+1 Model
Eight rental units plus a garden or laneway suite. Each unit has a dedicated entrance similar to a stacked townhouse model. Alternatively, this can be set up as an apartment building style.
10 Unit Model
Ten rental units in a single building. Set up as an apartment building with a scissor staircase, common hallways and entrances.
Same playbook.
Every time.
Standardization compounds. Every completed project reduces cost, timeline, and execution risk on the next.
WHY SIMPLE WINS. ------------
no elevators.
no sprinklers.
no common areas.
These aren't limitations, they're deliberate structural choices. Every element we eliminate removes cost, time, and regulatory complexity from the project.
By staying under Part 9 of the Ontario Building Code, we avoid the permitting, mechanical, and accessibility requirements that govern larger Part 3 buildings. The result is a faster, leaner build that doesn't sacrifice the quality of the finished product.
Institutional developers carry overhead structures that require larger projects to be viable. At this scale and format, our lean model works, theirs doesn't.
Why larger developers can't replicate this
No elevator maintenance contracts, no shared mechanical systems, no common area upkeep. The simplified building profile reduces NOI drag across the hold period.
Lower ongoing operating costs
Part 9 buildings move through the permit process faster than Part 3. Combined with as-of-right zoning, we avoid the multi-year entitlement delays that define most urban infill development.
Lower construction cost
Eliminating elevators, sprinklers, and complex mechanical systems removes significant capital expenditure. The savings flow directly to project returns.
Faster permitting
WHY SIMPLE WINS. ------------
no elevators.
no sprinklers.
no common areas.
These aren't limitations, they're deliberate structural choices. Every element we eliminate removes cost, time, and regulatory complexity from the project.
By staying under Part 9 of the Ontario Building Code, we avoid the permitting, mechanical, and accessibility requirements that govern larger Part 3 buildings. The result is a faster, leaner build that doesn't sacrifice the quality of the finished product.
Speed. ------------
From acquisition
to stabilized rental
in 18 months
The industry average for developments in Toronto requiring rezoning and site plan approval can be between 3-5 years. We're targeting 18 months.
Speed is enabled through:
As-of-right site selection
We only acquire sites where the permitted density already exists. No rezoning application, no OMB hearing, no waiting.
Standardized building templates
Design and engineering work done once, refined over time. Permit drawings are adapted from a proven template, not generated from scratch.
In-house construction oversight
Site superintendents are Voros Group employees. No GC coordination layer, no markup negotiations mid-project, no communication delays.
Established trade relationships
Repeat work with known trades means consistent pricing, reliable scheduling, and no onboarding friction between projects.
VERTICAL INTEGRATION. ------------
We own every stage of the value chain.
By controlling acquisition, construction, financing, property management, and maintenance under one structure, every dollar of value stays in the portfolio.
Acquisition
Voros Group holds a real estate license. Buy-side acquisition fees are eliminated, as well as leasing fees and any disposition of any assets in the future.
Real Estate Agent LIcense
Maintenance
The same construction team that builds the properties maintains them. Dedicated maintenance staff means responsive repairs, no third-party markups, and consistent asset care across the portfolio.
In-House Maintenance
Construction
Voros Group operates as General Contractor. Site superintendents are in-house. The hybrid self-perform and trades model eliminates GC markup and gives direct cost control at every phase.
GP & GC Structure
Financing
CMHC MLI Select financing structured and managed internally. No intermediary fees, direct lender relationships, and financing aligned with the hold strategy from day one of each project.
Mortgage Agent License
Property Management
Tenant screening, placement, and lease-up managed directly. No third-party property management fees, no external leasing commissions. Operational decisions stay in-house.
In-House Property Management
Lean Overhead
A small, skilled team with no corporate layer. Administrative costs stay low as the portfolio grows — overhead scales with the portfolio, not ahead of it.
Low Fixed Overhead
Every function that a typical developer outsources is a margin leak. We've closed them all.
THE HOLD STRATEGY ------------
Built to hold.
Financed to scale.
Most developers build to sell. We retain every asset.
Acquisition is funded through private capital, then we select one of two construction financing paths depending on the project profile. Both arrive at the same destination: long-term CMHC MLI Select insured financing placed on the asset at stabilization.
PROJECT FINANCING STRUCTURE. ------------
Acquisition
ALL PROJECTS
Funded through investor capital and private borrowing.
PATH A
CONSTRUCTION PHASE
Conventional Financing
Construction funded through a conventional construction lender. Lower loan to values, higher interest rates, less administrative burden.
PATH B
BOTH PATHS ARRIVE HERE
CMHC MLI Select Financing
Asset retained under insured long term financing. Qualifying projects can receive the following cmhc terms and conditions.
95%
Loan to Cost
50 Yr
Amortization
1.1 x
Debt Coverage Ratio
Non-Recourse
Loan Guarantees
CONSTRUCTION PHASE
CMHC Insured Financing
Construction lender is insured by CMHC. Higher loan to values, lower interest rates, higher administrative burden.
HOW WE BUILD. ------------
Three pillars.
One standard.
Three principles inform how we build. Some are driven by financing incentives. Some by building code. All reflect the kind of housing we want to add to the communities we work in.
01
Energy Efficiency
Buildings are designed to significantly exceed OBC baseline energy consumption. Better envelope performance, efficient mechanical systems, and lower operating costs — and the financing terms that come with meeting those thresholds.
02
Accessibility
Units are built to accessibility standards required under the Ontario Building Code. We meet the standard because it's the right way to build — not because it unlocks a program benefit.
03
Affordability
Where project economics support it, a portion of units are rented at below-market rates. Most of our completed projects include an affordable component, and we continue to pursue it where the numbers work.
OUR STRUCTURE
Integrated Execution
Lean Office Structure
Small, skilled team without corporate overhead. Every dollar goes to development and operations, not administrative bloat.
Construction Cost Control
In-house construction management, site supervisors, and general labour. Established trade relationships and direct cost oversight eliminate middleman markup.
Property Management
Tenant screening, placement, and lease-up managed directly. No external property management or leasing fees.
In-House Maintenance
Dedicated maintenance team. Responsive repairs, consistent asset care, direct cost control.
Vertical integration at every stage keeps costs lean and quality consistent. As the portfolio scales, overhead grows with it, not ahead of it.
How We Vertically Integrate
01
Acquisition & Underwriting
Site identification, underwriting, and project structuring within the concentrated west-end corridor.
02
Capital Structuring
Structured private placements aligned with 18–24 month build timelines and CMHC refinance transition.
03
Construction Oversight
Standardized Part 9 execution with repeatable plans, materials, and dedicated site supervision.
04
Property Management & Maintenance
In-house lease-up, tenant relations, and operational reporting across stabilized assets.
05
Financial Controls
Internal accounts receivable, payable, construction cost tracking, and reporting systems.
Internal alignment strengthens schedule reliability, cost discipline, and long-term asset performance.
Financing Structure
CMHC MLI Select Alignment
Projects are designed to meet enhanced energy efficiency thresholds aligned with CMHC's evolving MLI Select program standards.
This alignment may support:
Extended amortization periods
Improved leverage
Reduced insurance premiums
Refinance flexibility
Efficiency and financing are embedded in the model from inception — not layered afterward.
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Our Market
Concentrated Urban Focus
We concentrate primarily in Toronto's west end — a transit-connected, supply-constrained urban corridor with durable rental demand fundamentals.
Geographic density enhances:
Operational efficiency
Leasing consistency
Construction oversight
Financing alignment
Scale is achieved through disciplined repetition within a single concentrated market, not through geographic dispersion.
EFFICIENCY & AFFORDABILITY ------------
Higher efficiency
More affordability
Our buildings are designed to exceed baseline efficiency requirements, targeting:
40%+ reductions in greenhouse gas emissions relative to baseline code
Enhanced building envelope performance
Energy-efficient mechanical systems
Projects are structured to align with CMHC's evolving MLI Select program standards, supporting long-term insured financing and refinance flexibility. Efficiency and financing alignment are embedded at the design stage.