NexLiving to Expand into Ottawa Through Townhomes Development Project Acquisition
AI Article Summary
NexLiving has secured an option to acquire a townhome project in Ottawa’s Barrhaven suburb, consisting of 108 units for $43.5 million. The project, named The Conservancy, will feature two-storey stacked townhomes and is expected to complete in late 2026. NexLiving will partner with Devcore Group for financing and construction, with a 12-month rental-income guarantee once completed. The net operating income is projected to be between $2 million and $2.3 million annually.
What This Means for Canadian Contractors
For Canadian builders, this means an increased involvement in residential construction projects in the Ottawa area, potentially boosting demand for skilled labor and construction materials. This project shows how strategic partnerships can facilitate large-scale residential developments through shared responsibilities in financing and construction. The planned features and amenities highlight the trend towards modern, transit-oriented, and community-focused residential designs.
