Richmond Hill Project Update

admin Portfolio Updates, Residential Development

We are pleased to report that the Draft Plan and rezoning for our Richmond Hill development with developer partner, Marlin Spring, was approved in May 2018, well in advance of our originally anticipated Q4 2018 approval. The approved plan consists of 429 units (compared to 425 units in the original underwriting). Subject to no appeals being submitted, the Development Team will continue preparing submission materials for the necessary site plan approvals and engineering drawings in order to apply for servicing permit.

In anticipation of receiving Draft Plan approval, building permits required to bring a sales trailer on-site were obtained in Q1 2018. The sales trailer has been delivered (see images below) and is currently on-site. Once tenders on the sales office are received, construction of the trailer’s interior and exterior will commence.

We will provide you with more details on Richmond Hill as the development progresses.