Four Companies Invest In The Development of New Apartment Buildings In Kingston, Ontario
Secure Capital Partners Inc., Blue Vista Capital Management LLC, and Podium Development Corp. have partnered with an unnamed Ontario-based pension fund to develop three new apartment buildings in Kingston, Ontario.
The multi-residential buildings will total 788 units housing over 1,300 residents and over 600,000 square feet of total area including 26,000 square feet of retail space.
The first building, located at 333 University Ave., will be completed in May 2021 and the following two buildings are expected to be completed in the spring of 2022 and 2023.
Located along Princess St. near University Ave., the buildings have immediate proximity to Queen’s University and downtown Kingston.
“This three phased build-to-core multi-family development is truly unique in the Canadian landscape. New core multi-family assets are in very short supply and are arguably the most sought after commercial real estate asset,” said David Ogden, a Managing Partner of Secure Capital.
Brent Chapman, a Managing Partner of Secure Capital, also said the team is delighted to have outstanding partners on this portfolio of luxury apartments that will fill the tremendous demand for rental accommodations in Kingston.
Bernard Luttmer, Podium Developments Managing Director added, “These projects were carefully assembled and planned over several years and will include best in class amenities, technology and design. We look forward to delivering these excellent housing options to the Kingston community”