- What Greybrook invests $25m in land development project in Waterloo region
- Why There is limited housing in the growing Cambridge market
- What next The firm will prime the land for master-planned development
Greybrook bought a land development project in Cambridge, Ont., for $25m.
The firm said it will manage the project through the approval stages and ultimately market the lands for sale.
The property, which spans roughly 96 net developable acres, is north of Maple Grove Road, between Hespeler and Chilligo Roads. The site is 3 km from Highway 401, connecting to Guelph and Kitchener-Waterloo. This is Greybook’s fifth investment in the region.
“The desirability of the city is growing, and there are currently a limited number of new housing developments underway,” Jared Dykstra, senior vice president of asset management at Greybrook, said. “Following the attainment of the necessary planning approvals, the land will be primed for master-planned development, addressing the pressing need for housing in a supply-constrained city.”
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