Mississauga Above Condos | ?m | 25s | Marlin Spring | Turner Fleischer

Out with Boardwalk, in with Marlin Spring:


Marlin Spring acquires Boardwalk REIT’s share

RioCan and Boardwalk REIT were originally partners for the project, but as work on its design progressed it was decided that it was more suited for a condominium than a purpose-built rental apartment.

“Boardwalk is a huge rental landlord, especially out in Calgary, and the decision on their end was that they would rather put their capital into rental projects than condo projects,” said Ballantyne. “So it was a pretty natural switch and they did the transaction directly with Marlin Spring.”

That transaction, which made RioCan and Marlin Spring 50-50 partners and co-developers, closed on Nov. 26. Other details of the transaction have not been disclosed.

“We’ve known the RioCan team and Boardwalk for some time, and when we became aware of the opportunity we were quite keen to get involved,” Marlin Spring president Ashi Mathur told RENX in a separate interview.

“They had determined that it was going to go the condo route and one of our core competencies is condo development and construction.

“We ended up working closely with both Boardwalk and RioCan over the last several months to simultaneously consummate the purchase and sale of Boardwalk’s stake and do a partnership agreement with RioCan.

“It was quite involved working with both parties, but it was a great process and we’re thrilled that we were able to get involved.”
 
Marlin Spring are planning for 510 units here:

30 Bristol Road East, Mississauga, Ontario
510 Condominium Units
GFA 414,563 Sq.Ft.
 
We gotta come up with some good puns for that silly marketing name.
Sorry, beneath me, beyond my grasp, but, umm, if others can rise to the occasion? Come on, help out wordplay troops!

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Going to Planning and Development Committee on Mar 27

Community Benefits contribution under Section 37 to permit 17 and 24 storey apartment buildings.
Address: 30 Bristol Road East
Applicant: Bristolwood Developments Limited
File: OZ 19/004 W5 and H-OZ 22-8 W5
 
JFC it's been almost 5 years and a shovel hasn't even touched the ground. So much red tape. This is why we have a housing crisis.
 
Given it only launched in December 2022, 7-8 month absorption would be pretty aggressive by today's standards. The days of a weekend blowout are over, except for a few, unique, launches.
 
JFC it's been almost 5 years and a shovel hasn't even touched the ground. So much red tape. This is why we have a housing crisis.
No it isn't. There's 1.25 million units approved across the province. The problem is excessive demand and lack of trades labour.
 

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