Vive Development Corporation is expanding from its home base in Kitchener, Ont. into a new market with ambitious plans to redevelop the former St. Catharines General Hospital site into a high-rise purpose-built rental community.
“We’re 100 per cent committed to rental housing,” chief development officer Stephen Litt told RENX.
The over 10-acre property at 142 Queenston St. in St. Catharines was acquired earlier this month for $10 million in a receivership sale. The site had gone through a few ownership changes before Vive’s acquisition, according to Litt.
The most recent owner was 2807823 Ontario Inc., which owed First Source Financial Management approximately $10 million. RSM Canada was appointed as the receiver and Lennard Commercial Realty marketed the property.
The hospital closed in 2013 after serving the community for 143 years and has since been demolished to below grade, though a lot of material remains which will have to be removed before new construction can begin.
“It’s not a simple site,” Litt said. “A lot of the hospital remains in the ground and the soils are tough.”
Project is still in the early stages
Litt said “the full gamut” of municipal approvals must still be obtained, but Vive said city staff members have been very supportive to this point. A planning application will be made early in 2025, but Litt concedes the project will take a number of years to complete.
“We’re still working out the best way to deliver our rental housing program on the site, so as far as footprint, unit counts and things like that, I don’t want to commit,” Litt replied when asked if he could reveal any specific plans.
An application from the former owner, submitted on Dec. 16, 2022, proposed:
- four buildings ranging from 11 to 16 storeys along with 40 townhomes providing 1,131 residential units;
- 13,282 square feet of commercial space;
- 858 parking spaces; and
- 140 bicycle storage spaces.
The property is located in a well-serviced, central neighbourhood with parks, shopping, restaurants, schools and entertainment options within walking distance. New development of this scale is expected to encourage additional amenities to come into the area.
The site offers walkable access to public transit and is centred between the Queen Elizabeth Way and Highway 406 to make it a good location for residents who work nearby or who have longer commutes.
“One-off small projects are great, but we’d like to set up and really start to impact the community,” Litt observed. “St. Catharines hasn’t really had any significant new rental stock built.”
Vive’s origins and growth
Vive was founded in 2015 when it started buying and renovating older apartment buildings in its hometown. It has since developed eight mid-rise projects in Kitchener-Waterloo.
Vive also has buildings and development sites in Woodstock, Milton and Guelph. Litt said it’s interested in developing within a 90-minute drive of the company’s headquarters to make buildings easy to visit as they’re being constructed.
“What’s important to me is leaving a mark on the world and in Ontario by delivering as much good-quality, attainable, mid-market rental stock as we can,” Litt said.
“We have various partners. Generally, our partners have been in the apartment business for one or two generations themselves and understand the fundamentals and work with us to multiply their efforts.”
Other Vive developments
Sylk Towers at 3241 King St. E. in Kitchener has been topped off and the roof is being put on, with occupancy expected next summer. It’s part of a three-phased project and will provide 304 units at 90 per cent of market rents as designated by the Canada Mortgage and Home Corporation.
Sylk Towers exceeds building code requirements for efficiency and greenhouse gas emissions by more than 40 per cent and is designed as an electric building.
Amenities at Sylk Towers will include: smart building features; parking; a walking track; an outdoor pavilion area; parcel lockers; bicycle storage; a gym; and co-working space.
Eureka – a 29- and 11-storey apartment complex with a four-storey podium, 515 housing units and 4,860 square feet of commercial space at 1001 King St. E. in Kitchener – is in the ground and in the early stages of construction.
The project will pay homage to the former headquarters of Onward Manufacturing Company by incorporating original design details. It will include: seven live-work units; 331 above- and below-ground parking spaces; 257 bicycle storage spaces; storage lockers; indoor and outdoor amenities, including a gym, a rooftop patio and lounge, and a dog exercise area; and light rail transit access outside the front door.
Other projects in Kitchener, Guelph and Milton are earlier in the development cycle.
