Groupe Mach plans to demolish a vacant 12-storey building at the corner of Metcalfe and Albert streets and replace it with a new highrise containing 234 rental apartments and ground-floor commercial space, a company spokesperson told OBJ.
Vice-president Jordan Bianconi said branching out into property development marks the “logical next step” in Inside Edge’s evolution as a real estate firm.
InterRent announced Tuesday that CLV Group and Singapore-based investment firm GIC are offering to purchase the REIT for $13.55 per unit, or about $2 billion.
Morguard Corp. has filed a development application for 500 Coventry Rd. that would see a 28-storey highrise constructed on the southeast corner of the property.