Gordon and Arkell
Canada ICI arranged land financing for a 1.57-acre parcel in Guelph, Ontario. The structure provided working capital for the pre-development of an 8-storey, 110-unit purpose-built rental project at the intersection of Gordon Street and Arkell Road. The new development, close to the University of Guelph, will have a mix of bachelor, one-bedroom and two-bedroom suites.
The building is situated on a site formerly home to a gas station and has been vacant for several years. The new development will bring much-needed rental housing to the downtown core and help to revitalize the neighbourhood.