But company sees brighter days ahead as it continues to refine antenna technology for next-generation satellites poised to deliver high-speed internet to the most remote parts of the planet.
Homestead Land Holdings recently filed an application with the city to construct a 25-storey building with 235 apartment units near two existing highrises at 1300 McWatters Rd.
High demand, rising rents and the recent successes of other projects are leading to speculative developments picking up across the city, particularly near 400-series highways.
Although overall bookings remain below pre-pandemic levels, customer interest began to increase in June with the elimination of quarantines for fully vaccinated returning Canadians and the removal of other travel restrictions.
It's the latest project for developer Tri-Star Construction, which has built several apartment buildings and a retirement residence over the past decade.