Starlight Developments Receives Approval for a 215 Suite Purpose-Built Rental Building in Barrie, Ontario
Toronto, ON – October 18, 2019 – Starlight Developments (“Starlight”) is pleased to announce that it has received approval to develop a purpose-built rental building located at 37 Johnson Street in Barrie, Ontario (the “Property”).
“Through a collaborative process involving the City of Barrie and local residents, we are excited to have our multi-family development proposal approved. The development of this new building will add 215 new condo-quality, amenity rich rental suites to the Barrie market,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The existing 11-storey building on the Property consists of 188 residential units. The proposed development will be in addition to the existing building and will be placed at its rear. The new development will stand 11-storeys tall and will be comprised of 215 residential suites, varying in size and type. The building will feature an amenity space available to tenants of both the new and existing building. The Property is located in a vibrant neighborhood, steps from food and shopping and Simcoe Plaza. It is in close proximity to the shoreline allowing tenants easy access to Johnson’s Beach, Shoreview Park, Nelson Park and Parkview Community Centre. The Barrie North Shore Trail extends east of the property and west to Barrie’s city centre. The Property also offers immediate access to public transit and highways.
About Starlight Investments Starlight Investments is a privately held Toronto-based, full service, multi-family and commercial real estate investment and asset management company driven by an experienced team of over 200 professionals. The company currently manages over $11.0 billion of direct real estate as well as real estate investment securities. Investment vehicles include institutional joint ventures, True North Commercial REIT, Starlight U.S. Multi-Family Funds and Starlight Capital Funds. Starlight Investment’s portfolio consists of approximately 36,000 multi-residential units across Canada and the U.S. and over 6.2 million square feet of commercial properties. Please visit us at www.starlightinvest.com and connect with us on LinkedIn at www.linkedin.com/company/starlight-investments-ltd-