# Dream Unlimited

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.

## History

Dream Unlimited was founded in 1994.
In 2021, Dream Unlimited had $15 billion of assets under management, $9 billion of which are fee earning. It owned 11.2 million square feet of commercial rentable real estate, including 26,018 residential rental units.
By 2021, it has completed construction of $38 billion of commercial real estate and renewable energy infrastructure.
In January 2022, the company launched the Dream Community Foundation, not-for-profit organization.
In January 2023, Toronto's former deputy mayor Ana Bailão joined Dream Unlimited as the head of affordable housing and public affairs. Bailão resigned from her role in March 2023, as she announced her campaign to be the next mayor of Toronto.
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.

## Projects

In 2019, Dream Unlimited proposed three designs to the City of Toronto to develop a downtown Toronto multi-storey property at 49 Ontario Street.
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. Dream Unlimited will develop the land with Great Gulf Group, both companies will operate as Quayside Impact Limited Partnership. The project plans to incorporate 800 affordable residences.
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.

## Controversy
### 2023-2024 Rent Strikes

In June 2023, over 200 tenants in 33 King Street, one of the company's residential building, joined a collective action to withhold rent as a form of protest (see rent strike), citing abnormal rent increases and maintenance issues. They were joined by tenants of their neighboring building, 22 John Street, which also belongs to Dream Unlimited. On July 15, they marched from the buildings to the offices of both Local MPP, Michael Ford's office and the then-Federal Housing Minister, Ahmed Hussen's office.
Four months into the first rent strike, Toronto Mayor Olivia Chow made an attempt to mediate negotiations in September 2023. Despite an invitation extended to Dream Unlimited, no representatives of the real estate company showed up at the meeting.
The rent strikes continued into 2024. As of January 2024, there were 76 active L1 applications for 33 King Street filed by the company to the Landlord and Tenant Board. Michael Cooper, CEO of Dream, denied the existence of such case, "There's no such thing as a rent strike".

### Use of algorithmic price-setting software

In September 2024, The Breach reported that properties under management by Dream Unlimited were using YieldStar, an algorithmic software tool developed by RealPage, which facilitates the sharing of real-time information about rental pricing and occupancy rates by landlords and is alleged by the US Justice Department to harm renters by decreasing competition, to set rental prices for apartments.