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LIUNA fund invests in Ottawa rental housing

DCN News Services
LIUNA fund invests in Ottawa rental housing

OTTAWA — LIUNA’s Central and Eastern Canada Pension Fund has announced it is participating in a joint venture to build two mixed-use buildings with rental residences in Old Ottawa East.

Fengate Asset Management is representing the LIUNA fund in the project and is partnering with Regional Group of Companies, stated an Oct. 16 release.

The two buildings will be located at the entrance to Regional Group’s master-planned waterfront community, Greystone Village.

They will provide ground retail and 245 units of what is termed high-quality rental housing.

When complete, Regional Group will be managing the properties on behalf of the investors.

Building amenities will include roof-top terraces with gardens and dog areas, fitness facilities, underground vehicle and bike parking, storage and gathering areas.

Greystone Village will have over 1,000 residences at build-out. It’s located between the Rideau Canal and Rideau River within walking distance of the new Lees LRT Station and Lansdowne Park. Regional Group is aiming for LEED ND (Neighbourhood Development) with the new community.

“LIUNA is proud of our strategic investment to meet rental housing needs in the Ottawa-Gatineau region, creating hundreds of construction-related jobs and investing in the economic growth of the community,” said Joseph Mancinelli, LIUNA international vice-president and regional manager for central and eastern Canada, in the statement.

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