Multifamily Real Estate Insights Podcast
The Real Estate Multifamily Insights Podcast is your trusted source for news, strategies, expert interviews, and actionable tips to grow your wealth through multifamily real estate, in Canada and beyond. Hosted by seasoned investor Sandy Mackay.
Exploring Key Multifamily Redevelopments and Zoning Impacts
In this episode, Sandy MacKay delves into the sale and redevelopment of the Ellery Apartments in Cambridge, focusing on how zoning changes impact the project and its implications for the multifamily market. He examines KRP Properties' innovative office tower conversion into a high-end rental project in Kanata North, discussing the potential benefits and challenges. The episode also covers redevelopment plans for the Stamford Transportation Center, highlighting the significance of transit-oriented developments. Sandy wraps up with closing remarks, providing a comprehensive look at these transformative projects and their effects on the multifamily real estate landscape.
Key Points
- The Ellery Apartments in Cambridge, a 145-year-old multifamily property, has been sold for $6.65 million to a developer planning to transform it into luxury condominiums, capitalizing on new zoning changes.
- KRP Properties is converting a 10-storey office tower in Kanata North into high-end rental apartments, aiming to meet the housing needs of the local tech community while employing environmentally-conscious construction practices.
- The Connecticut Department of Transportation is seeking proposals to redevelop the Stamford Transportation Center into a vibrant, mixed-use district that integrates residential, commercial, and retail spaces, reflecting a broader trend towards transit-oriented developments.
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Transcript
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