THUNDER BAY — A new developer has taken over the construction of a multi-phase project including what are being advertised as "luxury" apartment units, on Golf Links Road in the River Terrace subdivision.
Lormar Construction initiated the project on a piece of property west of the intersection with Riviera Drive, but it's been taken over by Terralux General Contractors and Developments.
Terralux is completing a strip mall and has also started work on the first of two 60-unit apartment buildings.
The five-story structure will have underground parking and a mix of one-bedroom and multi-bedroom apartments ranging in size from 875 square feet to 2,300 square feet.
It's expected to be ready for occupancy in the summer of 2024.
A spokesperson for Terralux said the company has applied for a building permit for another apartment complex of a similar size but with a different design.
It will have underground parking as well.
The parkade is expected to be constructed and capped this fall, with framing for the upper stories starting in the spring.
The spokesperson said the company plans to earmark 10 per cent of the apartments for affordable housing, as defined by Canada Mortgage and Housing Corporation, meaning that rent will be less than 30 per cent of a household's before-tax income.
He noted that work on the Golf Links Road project is ahead of schedule, and that there have been no supply-chain issues or any problems getting enough skilled tradespeople.
No commercial leases have been signed so far for the strip mall, but the company has received letters-of-intent, and at this point expects that some medical offices will be locating there.
