Two established Greater Toronto Area development companies have created a joint venture called Newrise to complete the final phase of the Glen Abbey Encore community in Oakville – the midrise Ovation Rentals which will offer 356 apartments.
The Burlington-based partnership involves New Horizon Development Group (NHDG) and Krpan Group, who have now broken ground on the building. The six-storey Ovation Rentals project is targeting young professionals, families and down-sizers.
“While there’s a lot of high-end and amenity-rich product in Oakville, we’re hoping to steal some of the more price-driven and cost-driven side of the market,” NHDG director of client experience Natasha Paikin told RENX.
The Glen Abbey Encore community already has low-rise housing and a condominium is under construction adjacent to Ovation Rentals’ greenfield site.
While Paikin said going the condo route was considered for the Ovation site as well, it was decided that the changing market conditions and higher interest rates of the past two years would make it too much of a challenge to sell an additional 356 units.
Ovation Rentals will offer a mix of one-bedroom, one-bedroom-plus-den and two-bedroom units ranging in size from approximately 475 to 900 square feet. The U-shaped building will include a community courtyard, a lobby, a gym, parcel lockers for delivery orders, bicycle storage and an underground parking space for each unit.
Occupancy is projected for the fourth quarter of 2026.
Geothermal heating and cooling system
Construction has begun on the installation of a geothermal heating and cooling system, a green building feature that comes standard for new NHDG projects. The residences will prioritize energy efficiency, water conservation and indoor air quality.
“We were one of the first in the GTA (Greater Toronto Area) west to focus on geothermal heating and cooling systems for our mid- and high-rise builds, and then we added solar panels to those builds,” Paikin said. “Now we’re continuing our research and development of what that next step of sustainability will look like on some of our upcoming projects.”
Ovation Rentals is at the corner of Bronte Road and Saw Whet Boulevard and offers nearby access to schools, retail and dining options. The Bronte GO Transit station and the Queen Elizabeth Way, 403 and 407 highways are also all in the area.
The site is surrounded by natural green space, including Fourteen Mile Creek, Bronte Creek Provincial Park and Deerfield Golf Club. The community also offers a trail system and ample places for play, including playgrounds, tennis courts, pickleball courts, a basketball court and a sports field.
The origins of NHDG and Newrise
NHDG was founded by Jeff Paikin and Joe Giacomodonato and is celebrating its 30th anniversary this year. In that time it has built more than 30 communities in southern Ontario cities and towns including Oakville, Burlington, Hamilton, Waterdown, Stoney Creek, Beamsville, Paris, Simcoe, Brantford and Cambridge.
“Over the years we’ve grown and evolved from custom home, single-family home and small townhouse builders to primarily mid- and high-rise condo and apartment developers, though still touching on some low-rise as well,” said Paikin. “Our focus has always been primarily in the sustainable, attainable and affordable home ownership space.”
NHDG undertakes some developments on its own and partners on others. Its principals were introduced a few years ago to Krpan Group, which was established in 1973 and has a portfolio that encompasses more than 5,000 homes and millions of square feet of commercial and office space throughout the western part of the GTA.
“They were looking for a new partnership in the mid- and high-rise space, so we got to talking with them and that’s when we realized we were aligned in our integrity and humility and felt that it was a great partnership,” Paikin explained. “They had this opportunity in the Glen Abbey Encore community, which is Ovation.
“We’ve worked together for the past, just over two years, on getting Ovation through the town’s approval system. Once we got building permits in place and knew we were breaking ground, we took the opportunity to announce the partnership and celebrate the groundbreaking.”
Recent and current NHDG developments
NHDG recently finished two purpose-built rental apartments at 195 and 197 Hespeler Rd. in Cambridge. The non-profit Satellite Community Homes is the property manager for 195 Hespeler, a geared-to-income affordable rental building comprised of 55 units.
The other apartment is a market rental building with 73 units, 20 per cent of which are at below-market affordable rents. Two market suites remain available to lease.
NHDG has sold all of the units and is completing occupancy for the third-and-final phase of a 774-unit condo called Trend Living on Dundas Street East in Waterdown.
A 14-storey, 219-unit purpose-built rental apartment is under construction at 870 Queenston Rd. in Stoney Creek. Twenty per cent of its units will be offered at below-market rents and occupancy will begin this fall.
Upcoming NHDG projects
NHDG has received conditional site plan approval for a 1,407-unit condo development at 1842 King St. E. in Hamilton that will incorporate four 12-storey multi-residential buildings and four four-storey stacked townhouses containing 10 units each.
There will be 1,688 parking spaces in a three-level underground parking garage. the development is at the site of Brock University’s former Hamilton campus.
NHDG plans to incorporate Hamilton’s 100-year-old, three-storey former Delta Secondary School at 1284 Main St. E. into a development with three 14-storey condos and three- and four-storey stacked townhomes that will combine for 975 units.
The school closed in 2019 and NHDG and Losani Homes acquired the property in March 2022. Talks are ongoing with city representatives to move the project forward.
NHDG has proposed to develop multiple condos ranging from eight to 25 storeys in height alongside three-storey townhouses for a total of 1,995 residential units at 499 Mohawk Rd. E. in Hamilton.
The former Walmart-anchored shopping plaza site would also include 1,995 resident and visitor parking spaces contained primarily within an underground parking garage, 948 long-term bike parking spaces and 95 short-term bike parking spaces.
A site plan application for a project proposing approximately 1,300 waterfront condo units at 310 Frances Ave. in Stoney Creek is under review.
“We have definitely been building up to these (larger development properties),” Paikin said. “It’s kind of the next natural progression.”
