ReDev to embark on its first construction project

TORONTO — Toronto-based commercial real estate investment firm ReDev Properties has announced four commercial property deals in Ontario and Alberta in the second quarter of 2018 including one that represents its first foray into commercial construction.

The deal in Jacksonport, in northeast Calgary, saw ReDev acquire a fully leased commercial property that will be expanded with construction of an additional 26,000 square feet of retail space, a July 11 statement said.

Commenting on the Jacksonport acquisition, ReDev founder and president Richard Crenian said, “This is a very important step for ReDev because for the very first time the company will be involved in the construction of commercial real estate. We are very excited about the chance to break ground in 2019.”