New 10-Storey Apartment Tower Proposed in St. John’s
A local developer is proposing to build a new 10-storey rental apartment building in St. John’s, NL, according to multiple reports.
If all goes according to plan, KMK Capital will tear down an old YMCA building on Cove Road and construct the new apartments along with a separate two-storey parkade. As a result of the plan, Max Fitness, which is located in the former YMCA site, will close permanently on December 15.
But a youth centre operated by Max Families will stay open.
St. John’s city council is slated to consider the project for approval next week. The project comes as governments are seeking to develop more multi-residential rental housing projects in St. John’s.
Earlier this month, Ottawa unlocked a surplus federal property in the Pleasantville area for the development of 34 homes. The property was one of six federally owned sites across Canada that the government has freed up for rental and affordable housing.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.