Apartments pay the rent again
Edison building three blocks as vacancy rate stays low
By: Murray McNeill
Posted: 1:00 AM |
One of the city's most active apartment-block developers in the 1960s, '70s and '80s is jumping back into the game after more than two decades on the sidelines.
The Edison Rental Agency, which will be changing its name to Edison Properties this fall to reflect its re-entry into the development business, plans to build three new apartment blocks -- 215 suites in all -- on the site of the Springfield Heights retail mall on Rothesay Street.
The apartment blocks will be part of a $50-million, 350,000-square-foot residential/retail complex planned for the site. The complex will include a four-storey base structure, with roughly 10,400 square feet of retail space on the ground floor and three floors of apartments. Above that will be the three apartment buildings, with another seven floors of suites in each.