TORONTO, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Marlin Spring and RioCan Living™ are proud to announce their partnership on 30 Bristol Road East, a 2.43-acre development site situated at the southeast corner of Hurontario Street and Bristol Road East, Mississauga, Ontario. The partnership will improve the site by developing and constructing a two-tower, mixed-use residential community providing over 500 much-needed homes to this sought-after neighbourhood.
“This development, with its proximity to public transit and in a well-established neighborhood, easily met our criteria of acquiring and developing transit-oriented communities in central neighbourhoods within the GTA,” said Pedro Lopes, Senior Vice President, Development, Marlin Spring. “We are very excited to add this substantial project in the thriving City of Mississauga to our growing portfolio.”
“Homeowners and residents of this project will benefit from being within walking distance to several schools and public parks and from convenient transportation options including easy access to highways 401 and 403 and the LRT station being constructed just across the street. The active culture lifestyle with galleries, theatres, shopping and museums makes Mississauga a preferred destination,” said Erin Millar, Vice President of Sales and Marketing, Marlin Spring.
“We are very pleased to partner with Marlin Spring on this exciting project, solidifying our aligned values and vision. Since 1993 RioCan has helped shape the places Canadians want to work and shop. RioCan Living™ launched in 2018 and develops properties we already own in major markets that are located on existing or emerging transit lines. RioCan Living provides opportunities to address the shortage of new multi-residential housing,” says John Ballantyne, SVP, Asset Management, RioCan REIT. “Investment in public infrastructure such as the Hurontario LRT enables RioCan Living and our partners to deliver more housing options to more Canadians at a time when it’s needed most.”
Ashi Mathur, President of Marlin Spring, said, “Partnering with RioCanLiving™ on this development project aligns perfectly with our strategy, and further enables us to achieve our mission to deliver exceptional real estate value to all our stakeholders with an uncompromising adherence to our core values.”
ABOUT MARLIN SPRING
Marlin Spring is a Toronto-based real estate investment firm. Since its inception, Marlin Spring has experienced substantial growth having acquired over 45 projects, consisting of over 14,000 units in various stages of development, construction, repositioning and completion across Canada and the United States. With projects representing more than 13 million square feet of GFA and a value of over $7 billion upon completion, Marlin Spring has been one of the more active investors in the Development, Multi-Family Residential and Retirement Community sectors. The team at Marlin Spring and its portfolio companies consist of over 600 professionals involved in all aspects of acquisition, development, construction and asset management. Marlin Spring is deeply committed to its mission of delivering exceptional real estate value to all its stakeholders with an uncompromising adherence to its core values.
For further information regarding Marlin Spring:
Rivki Mandelbaum
Director, Corporate Strategy & Communication
rmandelbaum@marlinspring.com
416.619.3550 x346
marlinspring.com
Follow Marlin Spring on LinkedIn @marlinspring
About RioCan Living™
RioCan Living™ delivers best-in-class purpose-built rental units and condos along Canada’s most prominent public transit lines. RioCan Living developments leverage RioCan’s vast portfolio of more than 200 major market retail and mixed-use properties. RioCan Living delivers vibrant transit-oriented communities, developed and managed to impeccable standards and backed by RioCan’s proven track record. For more information about RioCan Living’s active slate of new residential communities visit www.riocanliving.com.
For further information regarding RioCan Living™:
Vakis Boutsalis
Vice President, kg&a
Vakis@kga-inc.com
416-578-1741
