Shovels in the ground on October 10, 2019
BRAMPTON, ON, October 10, 2019 – At the private groundbreaking ceremony that took place on Monday, October 7 in Brampton, ON, Timbercreek announced that the start date of construction on their new multi-family residential building at 205 Queen St. E. would be Thursday, October 10. The ceremony was held to acknowledge the forthcoming official construction start.
“We are extremely excited to commence work on this new building,” said Ugo Bizzarri, Senior Managing Director/CIO and Co-founder, Timbercreek Asset Management. “The support we received from the City of Brampton, the Federation of Rental-Housing Providers of Ontario and provincial government was a large factor in moving this project ahead. We are committed to the City of Brampton and bringing more rental housing to this growing community.”
“I want to congratulate Timbercreek on their groundbreaking. This development will be a great addition to the community, providing tenants with housing close to schools, parks, and transit,” said Steve Clark, Minister of Municipal Affairs & Housing. “Our government believes everyone deserves a place to call home. We will help build the right types of homes in the right places, to make housing more affordable across the province.”
Upon completion, the building will have 272 rental units and is expected to take approximately two and a half years to build. Timbercreek has been an active owner and operator of multi-family buildings in Brampton for over 10 years, providing safe, well-maintained, quality rental housing to residents of more than 200 apartment units. Partnering on the new building is G&C Architects and Toddglen Group of Companies.
“The Ontario government recognizes the need for more housing across the province and has taken positive steps in partnering with the industry to bring new rental projects like the one at 205 Queen St. E. in Brampton to fruition, said Tony Irwin, President and CEO of the Federation of Rental-Housing Providers of Ontario (FRPO). “Timbercreek has a proven track record of both construction and management of rental housing for over 20 years and I hope to be at many more openings in the future.”
In attendance at the groundbreaking ceremony were Steve Clark, Minister of Municipal Affairs and Housing; Amarjot Sandhu, MPP Brampton West; Jeff Bowman, Brampton City Councillor (Wards 3 & 4); Martin Medeiros, Brampton Regional City Councillor (Wards 3 & 4), Tony Irwin, President & CEO, FRPO; and Ugo Bizzarri, Chief Investment Officer and Co-founder, Timbercreek Asset Management.
Founded in 1999, Timbercreek is an active investor, owner and manager of global real estate and related assets. Timbercreek Communities is a leading operator of multi-residential communities across Canada.
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