Regional Group of Companies and Fengate Asset Management are pleased to announce they are partnering in the development of two new rental buildings located at the entrance of Regional Group’s master-planned waterfront community, Greystone Village, in Ottawa. Fengate is managing the joint venture with Regional Group in the two buildings on behalf of the LiUNA Central and Eastern Canada Pension Fund.
The buildings will include retail at the ground level and 245 units of high-quality rental housing. When complete, Regional Group will be managing the properties on behalf of the investors. Building amenities will include roof-top terraces with gardens and dog areas, fitness facilities, state-of-the-art building security and mail rooms, underground vehicle and bike parking, storage, and gathering areas.
Greystone Village is Regional Group’s LEED master-planned community of over 1,000 homes. It is located between the Rideau Canal and Rideau River, and is within walking distance to trails, parks, the new Ottawa LRT (Lees Station), and Lansdowne Park.
“We are genuinely excited for the opportunity to partner with LiUNA and Fengate to deliver this much-needed choice of housing in Greystone Village and Old Ottawa East. This phase of the development will add vibrance, texture and life to Main Street and the community,” stated Dave Wallace, COO, Regional Group.
“LiUNA is proud of our strategic investment to meet rental housing needs in the Ottawa-Gatineau region, creating hundreds of construction-related jobs and investing in the economic growth of the community,” said Joseph Mancinelli, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “This development is essential to meeting the rental demand in Ottawa-Gatineau and LiUNA is proud to be at the forefront as an investor of this essential infrastructure build in partnership with Regional Group.”
“We are very pleased to partner with Regional Group, such an innovative, forward-thinking and highly experienced partner, on developing much-needed purpose-built rental apartments in Ottawa-Gatineau,” said Jaime McKenna, Managing Director and Group Head, Real Estate, Fengate. “Greystone Village is a unique and visionary community for the region, and we are pleased to be a part of this important development.”
Since 1958, Regional Group has been shaping real estate in Ottawa and throughout Canada’s National Capital Region. Today, the company has evolved into a unique real estate platform with extensive experience handling every aspect of the real estate environment. They create, develop, manage, and assess real estate value for their clients, partners, and investors. For more information visit regionalgroup.com.