[Guelph, ON – September 24, 2020]
Development for a 98-suite, rental apartment building at 100 Lancaster Drive, Welland is underway.
Frank Campion, Mayor of Welland, and city staff attended a private groundbreaking ceremony on Wednesday, September 23rd, 2020, to celebrate the construction kick-off.
The new property, called Lancaster Park, is Skyline Apartment REIT’s latest venture, and the first one that SkyDev (a real estate development and construction oversight firm providing services to Skyline Group of Companies as well as new partnership ventures) is managing the development of.
This development will bring much needed rental housing stock to the city which is currently facing a low vacancy rate of 2.8%, and the provinces has indicated that vacancy rates are falling to even lower levels through 2020.
Lancaster Park will offer the city of Welland an additional 98 units of apartment housing in a mid-rise complex with high-end, luxury rental suites. Amenities will include an indoor/outdoor lounge and terrace, and an on-site gym and yoga studio. The site is well located within walking distance to numerous grocery stores, and restaurants, with an adjacent transit stop. The suites will boast fantastic views of the City and adjacent park.
The development is slated for occupancy in Spring 2022.
“We’re proud to break ground in Welland and offer high-quality living spaces for rent to nearly one hundred families in the face of a pandemic,” said Greg Jones, President, SkyDev.
“SkyDev is working to promote the advancement of new residential development in many communities where housing demand is substantial.”
“New high-quality rental housing, like Lancaster Park Apartments will be providing, is a welcome addition to housing options in our city,” said Mayor Campion at the groundbreaking.
“Skyline is an award-winning company and I’m pleased that it is expanding its presence here with a new rental community that will be built with sustainability in mind.”
The development will also have several environmental features, including on-site EV chargers and a community garden. This high-efficiency, fully electric building capitalizes on Welland’s renewable hydro-electric and solar energy system.
“Our commitment to sustainability means better value to the families that will live here, our company, the city, and the community,” said Jones.
The property will be managed by Skyline Living, also part of Skyline Group of Companies. Skyline Living currently manages 224 suites across two buildings in Welland, including Doral Tower at 100 Lancaster Drive adjacent to the new development site.
The development was recently featured in an article in the Welland Tribune.
Watch a celebration video celebrating the launch of this exciting new development for Skyline Apartment REIT and SkyDev. (1.5 min):
SkyDev is a real estate development and construction oversight firm based in Guelph, Ontario.
Providing its services to Skyline Group of Companies, as well as new partnership ventures, SkyDev aims to be the property developer of choice. and is committed to creating meaningful value through its expertise in the development of sustainable multi-residential, office, and retail real estate across Canada.
To learn more about SkyDev, please visit SkyDev.ca.
SkyDev is part of Skyline Group of Companies.
About Skyline Apartment REIT
Skyline Apartment REIT (the “REIT”) is a privately owned and managed portfolio of primarily multi-residential properties, focused on acquiring both established and newly developed properties in secondary and tertiary communities across Canada.
Skyline Apartment REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth Management”), the exclusive Exempt Market Dealer for the REIT.
Skyline Apartment REIT is committed to providing best in class apartment suites and service to its residential tenants, while surfacing value with a goal to deliver stable returns to its investors.
To learn more about Skyline Apartment REIT and other alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Apartment REIT is operated and managed by Skyline Group of Companies.
For media inquiries, please contact:
Director of Marketing
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8