- Slides: 13
DEEP RIVER PROPERTY DEVELOPMENT PROPOSAL New Construction Apartment Buildings
ABOUT US • TSH is a real estate investment organization focused on New Construction Multi-Residential development. • TSH delivers excellence through the SELECTION, ACQUISITION, EXECUTION, and MANAGEMENT. • Although each project is different, the TSH investment strategy is largely BUILD and HOLD. • All Local – Suppliers, Contractors, and Labour
A PEMBROKE EXAMPLE 155 Noik Drive, Pembroke • • • 12 Unit New Construction Apartment Complex 10 -2 Bdrm Units, 2 -1 Bdrm Units Across the road from Middle/High School 1 km from East End Mall Complex 1 km from City Hospital/Seniors Complex 10 month build
A PEMBROKE EXAMPLE 320 Lake Street, Pembroke • • • 16 Unit New Construction Apartment Complex 15 -3 Bdrm Units, 1 -1 Bdrm Units Across the road from Algonquin Renaissance Campus 100 m from Pembroke Downtown 14 months build
A PEMBROKE EXAMPLE 575 Melton Street, Pembroke • • • 32 Unit New Construction Apartment Complex 32 -2 Bdrm Units 200 m from East End Mall Complex 1 km from City Hospital/Seniors Complex 16 month build 1 August 2018 Occupancy
A DEEP RIVER FOCUS • A beautiful Ottawa River-front living experience; • A strong Industrial and Military employment footprint; • A shortage of purpose-built new and modern multi-residential living options for working and retired people in the downtown core.
INITIAL CHALLENGES • A Supportive Tax Climate – New Optional Multi. Res Tax Class as a solution; • The Right Property – Location is Key; • Proximity to Downtown; • Supportive Neighbours; • Availability of Utilities.
PROGRESS TO DATE • Discussion regarding both challenges has begun and is ongoing; • New Tax Class – Letter of Interest and Case Study provided to Council for consideration in March. This presentation is a follow-on to that. • Property Search – Several opportunities exist including the municipally owned Keyes land.
TYPICAL TIMELINES • • Conceive Phase – 2 months • Property selection and Feasibility Study; • Property acquisition – Conditional on Site Plan approval; Design Phase – 6 -8 months • Civil Design and Site Plan Application; • Architectural Design and Building Permit Application;
TYPICAL TIMELINES • Build Phase – 12 -15 months • • (CONT’D) Based on size and height of proposed building(s); Manage Phase – Concurrent with Build • Leasing prior to Occupancy Permit; • Targets a Summer Occupancy.
NEXT STEPS • Progress discussions supporting the New Multi. Residential Tax Class and associated Tax Rate; • Complete internal Development Objectives Study for Deep River – number of total units; • Prioritize/Select optimum properties to satisfy this number of units; • Complete Conceive Phase for each.
QUESTIONS AND DISCUSSION Tim Streek President TSH Development Group (613) 698 -5951 [email protected] com www. triserviceholdings. com