Diamond Corp is a real estate development corporation that emerged to continue the legacy of the founder of the Whiltecaste New Urban Fund. Diamond is filled with a history of passion and commitment that has given it the wings to soar high as one of Canada’s greatest development groups. Their slogan of “Building on Legacy” shows their dedication of following the footsteps of Eph Diamond and their projects show tremendous cooperation, design sensibilities, and innovative ideas.
The history of the Diamond Developer Corporation cannot be fully mentioned without bringing up the history of the Whitecastle New Urban Fund. Whitecastle’s founder, A Ephraim Diamond was a prominent real estate developer and founded the Whitecastle Group. He sat as the Chairman and CEO of the Whitecastle group till the very end. Following the footsteps of the founder, the company was formed as the real estate arm of the Whitecastle group of companies as a private equity fund. Established as a limited partnership in 2008, The Whitecastle New Urban Fund initiative found more success with the consequent establishment in 2012 and 2015 as Whitecastle New Urban Fund 2 and 3. By rezoning lands to appropriate use and density, the Whitecastle New Urban Fund creates additional market value in these otherwise untouched lands.
Ephraim Diamond was a notable figure in Canada’s history, and he lived a rich and fulfilling life. Eph graduated from Queen’s University with a degree in engineering. He quickly joined the military after his graduation, and from there he rose to the rank of an officer in the Royal Canadian Navy. It was after his service in the military that he founded the Whitecastle group of companies and became chairman. His life was filled with hard work and achievements. He earned many notable awards and recognition. In 1979, he received from the Israeli Prime Minister the medal for Humanitarian Services. In 1980 he won the Human Relations Award from the Canadian Council of Christians and Jews. He was inducted to the Canadian Business Hall of Fame in 1988. Most of all, his greatest achievement would be one of Canada’s most prestigious honors, the appointment to the Order of Canada in 1990.
Today, Diamond Corp is led by the current CEO and president Stephen Diamond, Eph Diamond’s son. Stephen had graduated law school and was a lawyer for quite a while. He started Diamond Corp. in honor of his father and to negotiate city plans and development strategies in his own terms without having to seek assistance from outside sources. The firm’s primary objective was to act as a negotiating body that could build positive relations with city councilors, planners, ratepayers and the residents. He was successful in negotiating many of his proposed plans and projects without ever needing the Ontario Municipal Board to assist him.
Diamond Corp believes in rezoning lands for more fruitful ambitions, projects, and densities. This practice aims to progress the development of the city and create long-term value for the individual lands. Stephen and his team have set their sights on a new project they are currently working on, The Well. Occupying eight acres of land, The Well is a highly anticipated, mixed-use project in downtown Toronto. What’s most impressive about Diamond Corp is their willingness to comply with community demands and concerns. When developing massive projects, nearby residents will and have voiced many complaints and concerns. Rather than dismissing them and continuing on, Diamond adjusted their plans accordingly. Even during the current project, residents of the King and Spadina neighborhood didn’t feel as though the plans represented them very well, so they made adjustments. Upon completion, The Well will sport office, retail and living spaces with a square for hosting public events. Their previous projects, the 210 Simcoe and Minto Southshore both gave rise to beautiful condos that favored commute, shopping and other convenient options for its residents. Diamond Corp is moving forward with more projects as well such as the Upper East Village Condos, 2175 Keele St., AYC Condos, Garrison Point and more.
Diamond Corp has played an integral role in the development of communities in Toronto and the gentrification of its neighborhoods for the past 15 years. Stephen is a visionary in realizing the direction of the city’s evolution’s and proposes plans that can push the city forward rather than regressing it. Diamond Corp will continue to work the governing bodies and the residents to deliver projects that can shape Toronto into even better forms. Diamond Corp remains as the pivotal body that steers progress.
