Killam Apartment REIT has broken ground on a 55-unit development project in Halifax.

Known as Eventide, the building is slated to stand eight storeys and has a development budget of $33.6 million, said the Halifax-based REIT in its quarterly report. Eventide is expected to be complete in the second half of 2026.

Meanwhile, Killam reported that its 139-unit Carrick development in Waterloo continues to advance.

The Carrick’s development-related costs are being funded through a Canada Mortgage and Housing Corporation development and permanent loan. Construction is expected to conclude in mid-year 2025.

Killam also reported that lease-up is progressing at its three substantially completed new developments. The Governor in downtown Halifax and Civic 66 in Kitchener, Ont., are 75% and 80% leased, respectively. Nolan Hill Phase II, located on Calgary’s northwestern edge, is 45% leased.

Pictured: Killam’s Eventide apartment project in Halifax.

Rendering: Killam Apartment REIT