More and more, we're seeing unfinished developments in the Greater Toronto Area hit the market, and this week, a privately-funded planned retirement community development in Brampton was listed under power of sale for $14.3M. The $80M project, which broke ground in early-October 2022 but originated back in 2017, was being developed by Brampton-based construction company Chacon Developments and Origin Active Lifestyle Communities, a senior living corporation with residences across Canada.
Though unfinished, the development is fully zoned and site plan approved with excavation permit issued and graded, i.e., shovel-ready. Once completed, the community would consist of three buildings providing senior independent living apartments. The apartments would include 103 full-service supported independent living rental apartments, 36 suites for assisted living, and a dedicated neighbourhood of 16 memory care units.
At the 2022 groundbreaking, the Mayor of Brampton, Patrick Brown said, "Today is a great day for the city of Brampton and our seniors. Jeevan Niwas is a pretty impressive project with a top-notch facility created by great operators and developers.
“The approval process is brutal today," says Eric Carlson, Founder and Chief Executive Officer of Anthem Properties, one of BC’s largest developers.The development site at 41 Wabash Avenue is one of a dozen from the Vandyk Group of Companies in receivership.While Kelowna has not traditionally been known for the condominium lifestyle, recent years have seen an increasing number of shimmering new builds rising — and with more on the way.