Skyline celebrates grand opening of new Apartment REIT property in Welland

[Guelph, Ontario – October 3, 2022]

Construction has been completed for a mid-rise apartment building at 160 Lancaster Drive that has brought 98 new rental suites to the city of Welland.

On August 25, project partners and building residents celebrated the grand opening of Lancaster Park Apartments, alongside Welland Mayor Frank Campion and City Counselor Tony Dimarco.

At the time of groundbreaking back in September 2020, Welland faced a low rental housing vacancy rate of 2.8%. The Lancaster Park Apartments development was highly anticipated as it would bring much-needed new rental housing stock to the city.

“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,” said 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 development’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 development, and others like it, will not only fulfil the primary need of housing, but also spur further economic development in the area.

“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,” said 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,” said Greg Jones, President of SkyDev, which facilitated the development.

“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 currently manages two additional buildings in Welland including 100 Lancaster Drive adjacent to the new development site. The development is owned by Skyline Apartment REIT.

Built with sustainability in mind, the development has 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.

At the grand opening, Skyline Living, SkyDev, VanDel Construction, and SRM Architects also announced a cumulative $20,000 donation to The Hope Centre, a local non-profit organization that helps individuals facing housing and food insecurity.

“Lancaster Park Apartments was readily welcomed into Welland and we believe it offers real value in the city’s multi-residential marketplace,” said 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 fully integrated asset acquisition, management, development, and investment entity.

It is comprised of companies that provide services in real estate management and development, as well as clean energy management and development.

Skyline currently manages more than $7 billion across its real estate and clean energy platforms.

With more than 1,000 employees across Canada, Skyline works to provide safe, clean, and comfortable places for tenants to call home, great places to do business, sustainable solutions for a greener future, and an engaging experience for its investors.

View Skyline’s 20^th Anniversary celebration video to see how Skyline is grounded in real estate, powered by people, and growing for the future.

For more information about Skyline Group of Companies, please visit SkylineGroupOfCompanies.ca.

About Skyline Living

As one of Canada’s most prominent apartment rental providers, Skyline Living exists to provide safe, clean, and comfortable places for its residents to call home.

Providing homes in dozens of communities across Canada, Skyline Living is an industry leader in customer service, environmental stewardship, and community giving. It works to create and maintain thriving, vibrant communities for its residents, employees, and the neighbourhoods in which they live and work.

To learn more about Skyline Living, or for rental inquiries, please visit SkylineLiving.ca.

Skyline Living is a part of Skyline Group Of Companies.

About SkyDev

SkyDev is a real estate development and construction oversight company. It delivers new residential, industrial, retail, and mixed-use developments to communities across Canada.

From new project ideation, to putting shovels in the ground, to final occupancy, SkyDev is developing exceptional spaces to live, work, and shop, with sustainable features that reduce waste and conserve environmental resources for future generations.

SkyDev’s mission is to be the developer of choice among stakeholders seeking the highest standards in energy-efficient buildings and service excellence. It makes the most of its team’s 20+ years of experience in the Canadian real estate industry to create and develop communities that are enriching and impactful.

SkyDev is currently overseeing the development of approximately 4,000 new residential apartments across Ontario and 2 million square feet of industrial space.

To learn more about SkyDev, please visit SkyDev.ca.

SkyDev is part of Skyline Group of Companies.

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