Groundbreaking at Sky Towers, Barrie, Ontario

A new high-rise residential development on Grove Street West in Barrie, Ontario is set to make a significant addition to the city’s housing supply.

Construction is now underway at Sky Towers, a multi-phase, master-planned apartment development which will ultimately bring 928 rental apartment suites to Barrie.

Phase 1 of the project will comprise two high-rise buildings: Tower A at 25 storeys and Tower B at 27 storeys, slated for completion in 2027. This first phase will bring 541 new rental apartment suites to the city, including 32 affordable housing units.

Future phases will see a third tower at 29 storeys built, as well as a 9-storey building. These will provide an additional 387 suites.

SkyDev, part of Skyline Group of Companies, the developer, held a groundbreaking ceremony on November 15, 2024, to celebrate the construction kick-off. They were joined by Hon. Doug Downey, MPP for Barrie-Springwater-Oro-Medonte, Hon. Paul Calandra, Minister of Municipal Affairs & Housing for Ontario, and Mayor of Barrie Alex Nuttall.

“Our communities are growing, and having projects like the new Sky Towers project reflects the need for urban density along our growth corridors,” said MPP Downey. “Having strong partnerships between municipal and provincial governments will help us to achieve and exceed the housing targets set to meet the needs of our growing population. I look forward to welcoming new residents to the City of Barrie, and our continued partnership with the Mayor and council on this, and other housing projects.”

Mayor Nuttall spoke to the $6.7 million in government funding allocated to building 32 affordable apartments within the project – a portion of the total $10 million invested across six new developments in the city.

“We are proud to be at the forefront of the cities and communities taking decisive action to get new homes built quickly as demand continues to rise,” the Mayor said. “The Sky Towers development is fully aligned with our housing strategy. We look forward to seeing it take shape, enabling more people to enjoy living and working in our city. I thank Skyline for its investment in Barrie’s future, and I congratulate all project partners on a successful project commencement.”

“Projects like this one underline the ongoing commitment that our partners have in helping achieve our shared goal of ensuring everyone in Ontario has an affordable place to live,” said Minister Calandra. “Our government will continue to remove barriers, cut red tape, and reduce costs to get shovels in the ground faster. Thank you to Skyline, all project partners, and the City of Barrie for all of your hard work to make this development a reality.”

Barrie is experiencing tremendous demand for rental housing. It is the 10^th fastest growing city in Canada. Its population is expected to more than double, reaching 298,000 by 2051.

Jason Castellan, Skyline’s Co-Founder & CEO, spoke to the collaborative effort of all project partners, as well as the support of the City of Barrie and the Government of Ontario.

“This project represents a significant opportunity to answer the demand for housing in the rapidly growing city of Barrie, and we are pleased to see the result of our strong partnerships come to fruition as we break ground on Phase 1,” he said. “With Barrie’s vacancy rate of just 2.7% in 2023 and a current total rental market of just over 4,000 suites, this investment is a big step forward in attracting more residents and workers to the area, while supporting the city and province in meeting their housing targets.”

Sky Towers is conveniently located near the Highway 400 and Bayfield Street intersection in Barrie, a 40-minute drive from the GTA. It will feature open-concept suites with high-quality finishes, many offering views of Lake Simcoe. Residents will have a wealth of on-site amenities at their fingertips, including an indoor/outdoor central rooftop amenity space overlooking Lake Simcoe; electric vehicle (EV) charging stations; a pet spa; kitchen, bar, lounge and games room as well as a gym and yoga facility. A variety of restaurants, shopping, and grocery stores are within a five-minute walk.

Skyline is developing new rental housing in 10 additional communities, with over 600 apartments completed, 1,100 under construction, and 3,000 more in the pipeline.

About Skyline Group of Companies

Skyline Group of Companies (“Skyline”) is a fully integrated asset acquisition, management, development, and investment entity.

It is comprised of companies that provide services in real estate management and development, as well as clean energy management and development.

Skyline currently manages more than $8.23 billion across its real estate and clean energy platforms.

With approximately 1,000 employees across Canada, Skyline works to provide safe, clean, and comfortable places for tenants to call home, great places to do business, sustainable solutions for a greener future, and an engaging experience for its investors.

View Skyline’s 20^th Anniversary celebration video to see how Skyline is grounded in real estate, powered by people, and growing for the future.

For more information about Skyline Group of Companies, please visit SkylineGroupOfCompanies.ca.

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