commercial condo

Fortress completes first commercial condo project

Thursday, July 13, 2017

Fortress Real Developments Inc. (Fortress) and its partner Kingridge Developments (Kingridge) have completed the construction and registration of Kingridge Square, an office and commercial condominium development located on Speers Road in Oakville, Ont. The 4.95-acre property features four buildings with unit sizes ranging from about 1,000 to 1,600 square feet.

Sales of the units began in 2014, and construction started in 2015. The first unit owners took possession of their units in early 2017. The buildings are occupied by a variety of small businesses, including accountants, tax advisors, lawyers, engineering firms, insurance agents, investment planners, realtors, construction companies and medical professionals.

The development has easy access to the QEW and is adjacent to the growing Kerr Village area, which provides the development with exposure and ease of use for the owners, tenants and their customers.

“We are very proud of Kingridge Square,” said Jawad Rathore, Fortress CEO, in a press release. “It was originally envisioned as a high-rise apartment site, but our partner Dan Marion at Kingridge immediately recognized the opportunity to shift the use to a low-rise office and commercial condo development. We were fully on board with the shift in built form, and the results speak for themselves.”

Also involved with the development were CBRE, which was responsible for selling the units, construction lender Morrison Financial and construction partner Penalta Group.

Leave a Reply

Your email address will not be published. Required fields are marked *