Construction for Talisman Gate Underway in Gravenhurst

[Guelph, ON – July 21, 2021]

Construction is underway at Talisman Gate, a new mixed-use development located at 115 Skyway Avenue and 110 & 120 Preston Way in Gravenhurst, Ontario.

Skyline Group of Companies held a private groundbreaking ceremony on July 21, 2021 to celebrate the construction kick-off. The event was attended by Hon. Steve Clark, Minister of Municipal Affairs & Housing for Ontario, as well as Mayor of Gravenhurst Paul Kelly and Parry Sound-Muskoka MPP Norman Miller.

“Talisman Gate is a perfect example of the type of smart solutions we need as we address housing supply across Ontario,” said Minister Clark.

“It is the tangible result of strong partnerships, vision, and innovation that will support the Gravenhurst community for the long term. But this is more than just building housing; this is creating a community hub where people can access the services they need, close to home.”

Slated for occupancy in Summer 2022, the residential portion of the Talisman Gate development will comprise a four-building, four-storey complex with a total of 236 luxury rental apartment suites.

Gravenhurst’s rental vacancy rate is currently at 0.4%. Talisman Gate will increase Gravenhurst’s rental stock by 38%.

Talisman Gate will feature on-site amenities including EV chargers, a community garden, a multi-purpose court, a covered bike pavilion, and an on-site amenity building with gym, yoga studio, social room, games room, and outdoor terrace with a screened Muskoka seating area.

The development will also include new retail spaces including an A&W restaurant, and a Towneplace Suites by Marriott hotel.

“The Talisman Gate project is truly an effort across Skyline Group of Companies,” said Jason Castellan, Co-Founder & CEO, Skyline Group of Companies.

“Multiple businesses within our Skyline Group have come together to bring the best possible use to this land parcel. We are proud to be delivering new spaces for people to live, work, and shop in Gravenhurst.”

The property is owned by Skyline Apartment REIT and Skyline Retail REIT. Development is being facilitated by SkyDev, which is developing new rental housing in seven additional communities, with 600 rental apartments under construction and 2,000 more in the pipeline.

Once development is complete, the residential portion will be managed by Skyline Living, and the retail spaces will be managed by Skyline Commercial Management.

“The construction at Talisman Gate will represent a significant increase in the availability of purpose built rentals in Gravenhurst,” said Mayor Kelly.

“This development is key to providing a supply of housing to our area, where we see a vacancy rate below 1%, and providing new homes for residents of our town.  We are impressed with the development that Skyline has brought to Gravenhurst and welcome their continued investment in our municipality. Gravenhurst continues to be a great choice for investment, and we welcome the continued build-out of this site and many like it.”

MPP Miller added, “I hear regularly from families and individuals who are having trouble finding reasonably priced housing, and I hear from business owners who can’t find staff because the people they want to hire can’t find anywhere to live. This development of 236 rental apartments is going to make a huge difference in Gravenhurst and south Muskoka.”

Those interested in renting at Talisman Gate can visit TalismanGate.ca for more information.

About Skyline Retail REIT

Skyline Retail REIT (the “REIT”) is a privately owned and managed portfolio of retail properties, focused on acquiring well-located properties with service-oriented, national brand tenants in secondary and tertiary communities across Canada.

Skyline Retail REIT is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth Management”), the exclusive Exempt Market Dealer for the REIT.

Skyline Retail REIT is committed to providing outstanding places to conduct business and services. It prioritises superior service to its retail tenants while surfacing value with a goal to deliver stable returns to its investors.

To learn about additional alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.

Skyline Retail REIT is operated and managed by Skyline Group of Companies.

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