Local Real Estate Firm Proposes Sustainable Mixed-Use Development for Downtown Guelph

[Guelph, ON – December 5, 2019]

On December 5, 2019, Skydevco Inc. (SkyDev), the newest member of the Skyline Group of Companies (Skyline), announced plans for a new development offering a mix of residential, office, and retail space, situated in downtown Guelph.

Launched earlier in 2019, SkyDev is responsible for providing real estate development services to all Skyline companies as well as new partnership ventures. Their purpose is to create meaningful value in rental apartments, offices, and retail in communities across Canada.

Their newest project is a proposed 25-story development at 70 Fountain Street East (the current site of a Skyline corporate office) and 75 Farquhar Street. Once completed, the development will provide approximately 4,000 square feet of ground-level retail space, three floors of office space totaling 70,000 square feet, and 180 rental apartments. It will also offer four levels of underground parking and convenient access to Guelph Transit, VIA Rail, GO Transit, and Greyhound service. “Guelph is where Skyline was founded, and 20 years later, we are still proud to call the downtown its home,” said Martin Castellan, Co-Founder, and Chief Administrative Officer of Skyline. “We’ve seen significant growth and changes to the city over the years, and we’re excited to bring a new property development to the downtown core that will attract new residents and commerce.”

The project proposes skinny tower floor plates of only 660 square meters to provide a stunning piece of architecture and urban design. The recently built Rivermill and Riverhouse compare with almost double the floorplate size. “This slender rental apartment building with office podium will bring a showpiece of iconic architecture to Guelph,” says Edward Thomas, President of SRM Architects.

“Skyline has always had a focus on reducing its environmental footprint. With a long term view on ownership, this project is planned to be the most sustainable building of its kind in Guelph, and one of the most efficient buildings in Skyline’s portfolio,” said Greg Jones, President of SkyDev.

SkyDev has submitted an application to the City of Guelph to amend the Official Plan and Zoning By-law for the property located at 70 Fountain Street East and 75 Farquhar Street to allow for a mixed-use development offering rental apartments, office, and retail space beside the Guelph Central Station. A Public Open House will be held on January 9, 2020, from 4:00 pm – 8:00 pm at the Old Quebec Street Shoppes, 55 Wyndham Street North, Guelph, in the common area near St. Georges Square.

“We have a chance to come together as a community and support a significant investment in our downtown core. Having more people working, living, and shopping in our downtown is integral to the future prosperity of the City of Guelph.” concluded Jones.

About the Skyline Group of Companies

The Skyline Group of Companies (“Skyline”) exists to provide meaningful value and an exceptional experience for its tenants, investors, staff, and communities.

It currently manages approximately $4.8 billion in real estate and clean energy assets and provides over 2,800 investor households with exceptional investment opportunities in privately-held investment products.

With nearly 1,000 employees from coast-to-coast, Skyline works to provide safe, clean, and friendly places for tenants to call home, great places to do business, and an engaging and empowering experience for its investors..

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