Guelph, Ontario, Canada, Oct. 11, 2022 (GLOBE NEWSWIRE) — Construction has been accomplished for a mid-rise residence constructing at 160 Lancaster Drive that has introduced 98 new rental suites to the town of Welland, Ontario.
On August 25, Skyline Group of Companies joined mission companions and constructing residents to have a good time the grand opening of Lancaster Park Apartments, alongside Welland Mayor Frank Campion and City Counselor Tony Dimarco.
At the time of groundbreaking again in September 2020, Welland confronted a low rental housing emptiness price of two.8%. The Lancaster Park Apartments growth was extremely anticipated as it might deliver much-needed new rental housing inventory to the town.
“We know that to meet the needs of today’s housing market, we must be diverse in our offerings, and this development reiterates that commitment,” stated Mayor Frank Campion.
“Families currently here and those looking to call Welland home in the future will find immediate value in projects such as this.”
Hon. Steve Clark, Ontario’s Minister of Municipal Affairs and Housing, commented on the event’s completion: “New, purpose-built rental stock is a key component of our provincial housing solution platform. The Lancaster Park Apartments development is a great example of an infill project, making great use of available land while delivering much-needed housing options to the citizens of Welland. This project adds significantly to the local and provincial housing supply.”
Hon. Michael Parsa, Associate Minister of Housing for Ontario, added that the event, and others prefer it, is not going to solely fulfil the first want of housing, but additionally spur additional financial growth within the space.
“Building new rental homes is crucial to boosting our economy, attracting new workers, strengthening local businesses, and ensuring prosperity for communities across our great province. I am excited about the Lancaster Park Apartments project, which will help create good jobs and give more families in Welland a fantastic place to call home,” stated Minister Parsa.
Tony Irwin, President of the Federation of Rental Housing Providers of Ontario (FRPO), commented: “The grand opening of this anticipated development in Welland is coming at a crucial time, as we continue to see demand for new rental housing supply across the province. This is an example of a developer, City, and project partners effectively collaborating to deliver the right type of housing for the Welland market at the right time. FRPO congratulates all parties on Lancaster Park’s successful completion.”
“It’s our goal to advance new rental housing development where the demand is substantial, which includes the city of Welland,” stated Greg Jones, President of SkyDev, which facilitated the event.
“The challenges of 2020 did not stop us from breaking ground on this development that year, and we are proud to have delivered new living spaces for nearly 100 families in this city.”
Lancaster Park is managed by Skyline Living, which presently manages two extra buildings in Welland together with 100 Lancaster Drive adjoining to the brand new growth web site. The growth is owned by Skyline Apartment REIT.
Built with sustainability in thoughts, the event has a number of environmental options, together with on-site EV chargers and a group backyard. This high-efficiency, totally electrical constructing capitalizes on Welland’s renewable hydro-electric and photo voltaic power system.
At the grand opening, Skyline Living, SkyDev, VanDel Construction, and SRM Architects additionally introduced a cumulative $20,000 donation to The Hope Centre, a neighborhood non-profit group that helps people going through housing and meals insecurity.
“Lancaster Park Apartments was readily welcomed into Welland and we believe it offers real value in the city’s multi-residential marketplace,” stated BJ Santavy, Vice President, Skyline Living.
“We’re currently working to develop a sister building in the city, Pelham Junction apartments, that will begin pre-leasing ahead of Winter 2023.”
About Skyline Group of Companies
Skyline Group of Companies (“Skyline”) is a completely built-in asset acquisition, administration, growth, and funding entity.
It is comprised of firms that present providers in actual property administration and growth, in addition to clear power administration and growth.
Skyline presently manages greater than $7 billion throughout its actual property and clear power platforms.
With greater than 1,000 workers throughout Canada, Skyline works to offer protected, clear, and comfy locations for tenants to name residence, nice locations to do business, sustainable options for a greener future, and an interesting expertise for its traders.
View Skyline’s twentieth Anniversary celebration video to see how Skyline is grounded in actual property, powered by individuals, and rising for the longer term.
For extra details about Skyline Group of Companies, please go to SkylineGroupOfCompanies.ca.
About Skyline Living
As one among Canada’s most outstanding residence rental suppliers, Skyline Living exists to offer protected, clear, and comfy locations for its residents to name residence.
Providing houses in dozens of communities throughout Canada, Skyline Living is an trade chief in customer support, environmental stewardship, and group giving. It works to create and preserve thriving, vibrant communities for its residents, workers, and the neighbourhoods during which they reside and work.
To study extra about Skyline Living, or for rental inquiries, please go to SkylineLiving.ca.
Skyline Living is part of Skyline Group Of Companies.
About SkyDev
SkyDev is an actual property growth and development oversight firm. It delivers new residential, industrial, retail, and mixed-use developments to communities throughout Canada.
From new mission ideation, to placing shovels within the floor, to ultimate occupancy, SkyDev is creating distinctive areas to reside, work, and store, with sustainable options that scale back waste and preserve environmental assets for future generations.
SkyDev’s mission is to be the developer of selection amongst stakeholders searching for the very best requirements in energy-efficient buildings and repair excellence. It makes probably the most of its crew’s 20+ years of expertise within the Canadian actual property trade to create and develop communities which can be enriching and impactful.
SkyDev is presently overseeing the event of roughly 4,000 new residential flats throughout Ontario and a couple of million sq. ft of business house.
To study extra about SkyDev, please go to SkyDev.ca.
SkyDev is a part of Skyline Group Of Companies.
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