[Guelph, Ontario – October 16, 2024]
Construction is underway at Spencer Place, a new multi-residential development in the community of Simcoe within Norfolk County, Ontario. Upon its projected completion in Spring 2027, it is slated to make a significant addition to the local housing supply.
Spencer Place, located at 4 & 6 Spencer Way in Simcoe, will comprise 199 rental apartment suites within two six-storey buildings.
Skyline Group of Companies held a private groundbreaking ceremony on October 16, 2024, to celebrate the construction kick-off. The event was attended by Norfolk County Mayor Amy Martin.
“Congratulations to Skyline and all project partners for breaking ground on this new rental development, which will be a welcome addition to our community,” said Mayor Martin.
“This development is a crucial step toward addressing our community’s housing challenges and ensuring that Norfolk County remains a place where everyone has access to housing.”
Demand for multi-residential housing remains high across Canada, impacting communities of all sizes. Norfolk County, located southeast of London, Ontario, has faced a significant shortage of rental housing in recent years, reporting a vacancy rate of just 0.2% in 2023.
“We continue to see high demand for rental housing in communities like Simcoe,” said Jason Castellan, Co-Founder & CEO of Skyline Group of Companies.
“We are proud to be investing in Canada’s secondary and tertiary communities where we can not only provide new rental housing where it is needed most, but also bring forward an opportunity for more people to live and work in this area.”
Located adjacent to natural greenspaces and nearby trails, Spencer Place is close to a multitude of retail amenities, services, and restaurants. The master-planned community will include modern finishes and offer on-site indoor and outdoor amenities such as a fitness centre, social and games rooms, an outdoor patio, a dog run, and pickleball courts.
The development is being facilitated by SkyDev, which is developing new rental housing in 10 additional communities, with over 600 apartments completed and 3,000 more in the pipeline.
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 $8.23 billion across its real estate and clean energy platforms.
With approximately 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 20th 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 SkyDev
SkyDev is a real estate development company that is part of Skyline Group of Companies, a fully integrated asset management, development, and investment entity.
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 build developments that create meaningful value for the communities it invests in. 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.
For media inquiries, please contact:
Cindy BeverlyVice President, Marketing & Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x602