TAS

What TAS does

TAS is a Toronto-based, family-controlled real estate development and asset management company founded in the 1980s by Babak and Tooran Mortazavi. Operating under the TAS Impact brand and TAS Design Build subsidiary, the firm develops, owns, and manages mixed-use residential and commercial properties across the Greater Toronto and Hamilton Area. Its portfolio spans 16 projects totaling roughly 4.5 million square feet, including purpose-built rentals, residential condominiums, commercial community hubs, and completed/leased assets such as The Keeley (363 homes at 3100 Keele Street), 1500 Birchmount Road (under construction and leasing), 10 North Queen Street, 772 Warden Avenue, and Connecting Cooksville in Mississauga. The company has entitled, developed, and completed approximately $1 billion of asset value over its history.

TAS generates revenue through three streams: one-time unit sales of condominium and for-sale residential developments; recurring rental income from purpose-built residential and commercial leasing; and recurring management fees and performance-based returns from its private equity platform, which has $415 million of committed capital from institutional investors, family offices, and impact-focused funds. The firm positions itself as an early market leader in impact-driven real estate, publishing annual Impact Reports (2021–2024) and a 2024 Reconciliation Action Plan that document sustainability, affordability, and social-connection outcomes alongside financial returns.

The company is privately held and operationally controlled by the Mortazavi family, with a professionalized executive bench including a Chief Development Officer, CFO, and Director of Finance. It distributes through direct sales and leasing in the GTHA and raises institutional capital through a dedicated investor portal, with no public listing, no disclosed funding rounds, and no material M&A activity in the supplied record.

Name

TAS

Legal name

TAS

Website

https://tasdesignbuild.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

51–100 employees

Short description

TAS is a Toronto-based, family-controlled impact real estate developer and asset manager that builds, owns, and leases mixed-use residential and commercial properties across the Greater Toronto and Hamilton Area, while raising capital through a $415M private equity platform focused on purpose-driven development.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Real Estate Development Sales: TAS develops residential and commercial properties and sells units to buyers, generating one-time transaction revenue. Properties include condominiums and purpose-built rentals across the Greater Toronto Area.
2. Asset Management: TAS manages a best-in-class private equity platform with $415M capital committed in investment vehicles, generating management fees and performance-based returns.
3. Commercial and Residential Leasing: TAS leases residential and commercial spaces in their portfolio, generating recurring rental income from properties such as 1500 Birchmount Road, 10 North Queen Street, and 772 Warden Avenue.

Distribution channels3 records

Marketing channels7 records

Core offering

TAS is an impact-driven real estate development company that develops mixed-use residential and commercial properties—condominiums, purpose-built rentals, and commercial spaces—across the Greater Toronto Area. The company manages a portfolio of 16 projects totaling 4.5 million square feet and operates a private equity platform with $415M in committed capital that delivers market-rate financial returns alongside measurable social and environmental outcomes.

Product overview

TAS is an impact-driven real estate development company that operates as a unified platform offering ground-up development and asset management services. The company manages a portfolio of 16 real estate projects across the Greater Toronto Area, including residential purpose-built rentals, residential condominiums, and commercial properties. The portfolio includes named developments such as The Keeley (a 13-storey, 363-unit residential building), The Planet, The Campbell, DIA, DUKE, Kingston & Co., M5V, and ZED, among others located in Toronto, Mississauga, and Hamilton. TAS also operates a private equity platform focused on impact investing, managing capital committed to real estate vehicles while delivering market returns alongside measurable social and environmental outcomes.

Differentiator

Problem solved

Functional benefit

Brands

• TAS Design Build: Development and design build subsidiary managing real estate projects and portfolio.

Products and services

• The Keeley A 13-storey, 304,000 square foot residential building at 3100 Keele Street in Downsview, Toronto, delivering 363 new homes ranging from studios to three bedrooms with sustainable design and shared community spaces. Now selling and built/sold status.
• 1500 Birchmount Road
• Connecting Cooksville A mixed-use development project located at 33 Hillcrest Avenue in Mississauga, Canada, currently in development.
• 10 North Queen Street A commercial or mixed-use development operating as an income-producing property at 10 North Queen Street, Toronto.
• The Planet A built and sold residential development located at 1655 Dupont Street in Toronto.
• TAS Private Equity Impact Platform A private equity impact investment platform that raises and deploys committed capital into TAS real estate investment vehicles, delivering market-rate returns alongside measurable social and environmental outcomes for institutional investors, family offices, and impact-focused funds.
• TAS Commercial and Residential Leasing Portfolio Recurring rental leasing services for residential purpose-built rental units and commercial spaces across the TAS portfolio in the Greater Toronto Area, including properties such as 1500 Birchmount Road, 10 North Queen Street, 772 Warden Avenue, and The Planet.

Quantifiable outcome

• 4.5 million square feet of residential and commercial space developed or under management
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered key and supporting.

• Teeple ArchitectskeyImplementation/ SI/ Consulting PartnerTeeple Architects serves as the architect for The Keeley project. They designed the 13-storey, 304,000 square foot building featuring eye-catching design with emphasis on environmental sustainability and shared spaces.
• Ferris + AssociatessupportingImplementation/ SI/ Consulting PartnerFerris + Associates serves as the landscape architect for The Keeley project, providing landscape design services for outdoor spaces and community areas.
• TACTsupportingImplementation/ SI/ Consulting PartnerTACT serves as the interior designer for The Keeley project, providing interior design services for residential suites and common areas.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Tridel: Toronto-based developer of condominium and purpose-built rental communities across the GTA. Closest direct peer to TAS in geography, product mix (condos, purpose-built rentals, mixed-use), and recurring GTA delivery cadence.
• Menkes Developments: Family-owned Toronto developer of high-rise condominiums, townhomes, and mixed-use projects. Comparable to TAS in GTA-centric product mix and family-controlled governance, though operating at significantly larger scale.
• Fitzrovia Real Estate: Toronto-focused purpose-built rental developer using institutional capital partnerships. Closest peer to TAS in the GTA purpose-built rental niche with a similar impact-aligned, capital-partnered model.
• The Daniels Corporation: Toronto-based developer active in purpose-built rentals, market condos, and mixed-use communities. Directly comparable to TAS for the purpose-built rental + condo portfolio strategy in the GTA, with similar social-mission orientation through the Daniels Spectrum initiative.

Emerging players

• Context Development: Toronto-focused developer of purpose-built rental and mixed-use communities. Emerging player overlapping the same GTA purpose-built rental thesis as TAS, often partnering with institutional capital on similar deal structures.

Broad incumbents

• Dream Unlimited: Toronto-based developer with condominium, rental, and master-planned community activity. Comparable to TAS as a GTA-focused multi-product developer, though larger and publicly traded with deeper land bank.
• Brookfield Residential: Large North American residential developer with GTA condominium and single-family exposure. Broad incumbent competing for GTA high-rise sites and institutional capital, with ability to underwrite larger mixed-use projects than TAS.
• Mattamy Homes: Canada's largest residential homebuilder with significant GTA presence across low-rise and high-rise product. Functions as a broad incumbent that competes for land, capital, and pre-sale velocity, though at materially larger scale and without TAS's impact positioning.
• CAPREIT (Canadian Apartment Properties REIT): Canada's largest publicly traded multi-family residential landlord. Comparable adjacency through ownership and management of GTA purpose-built rental assets and similar investor base, though an income REIT rather than a developer.
• EllisDon Development: Major Canadian construction and real estate developer with GTA mixed-use projects. Functions as a vertically integrated incumbent for the same customer segments (buyers, tenants, investors) and competes for institutional development capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tas-design-build-toronto
• Instagraminstagram.com/tas_impact
• Xx.com/tasdesignbuild

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TAS