Greybrook Realty Partners announces the successful acquisition of a prime parcel of land located at 115 Watson Parkway North in the City of Guelph, Ontario following the successful close of an equity investment by its managed issuer of $9,800,000 to acquire and oversee the development of the property. Together with its developer partners, Tercot Communities and Cityzen, the firm intends to develop a residential community consisting of 195 townhomes and two high-density residential condominium blocks.
Located approximately 90 kilometers west of the City of Toronto, Guelph is one of the fastest-growing cities in Canada with a population that is forecast to continue growing in the years ahead. Anchored by the advanced manufacturing, agri-innovation, and life sciences industries, Guelph is approximately 30 kilometers away from Kitchener and Waterloo, home to a cluster of tech companies including Google’s biggest R&D office in Canada. The development site is ideally located and provides easy access to Highway 7, Highway 6, and 401, offering connections to neighbouring Tri-Cities Kitchener-Waterloo and Cambridge, as well as the City of Toronto, which is easily accessible via the GO Transit Guelph Central station.
Known as The Royal City, Guelph is recognized for its charming and secure family-friendly atmosphere, offering residents and visitors a unique rural environment accompanied by scenic ravines, and expansive areas of green space. The city is home to the University of Guelph, known as Canada’s food university and one of the nation’s leading innovative and comprehensive post-secondary institutions attended by approximately 30,000 students annually.
“We are thrilled to have made our first investment in the City of Guelph with the acquisition of this key parcel of land located within a developed neighbourhood. This investment will allow us to bring attainably priced ground-related homes to the area, contributing to the expansion of a burgeoning community,” said Jared Dykstra, Vice President, Asset Management at Greybrook Realty Partners. “Alongside two of our experienced developer partners, Tercot and Cityzen, we are pleased to deliver much-needed homes to this thriving city. This will be Greybrook’s tenth residential development with Tercot Communities and 17th investment with Cityzen.”
This news release contains forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. Greybrook is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise