Killam Properties Inc. begins construction of 122-unit luxury apartment building in Cambridge Ontario

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Killam Properties Inc. has begun construction of Saginaw Gardens, a 122-unit luxury apartment building in Cambridge, …

HALIFAX , Dec. 13, 2013 /CNW/ - Killam Properties Inc. ("Killam") is pleased to announce that it has begun construction of Saginaw Gardens, a luxury apartment building in Cambridge, Ontario . Located at 650 Saginaw Parkway the site is in the desirable east Cambridge Saginaw neighbourhood with quick access to Highway 401 and in close proximity to recreational activities, including shopping and restaurants. Construction is anticipated to take 18 months with Saginaw Gardens expected to be ready for occupancy in spring 2015.

The seven-storey concrete building will include 122 spacious open-concept units with condo-quality features, including stainless steel appliances, quartz countertops, in-suite laundry, ensuite baths, large balconies and air conditioning. The building will also include many amenities, including underground parking, a multi-purpose lounge, a fitness studio, two large outdoor terraces and a games room.

Killam has engaged HIP Developments & Melloul Blamey Construction, one of the Southern Ontario's largest construction firms, to be the project's development and construction manager. "We are pleased to play a role in creating a new landmark building in Cambridge with Killam ", says Scott Higgins , Vice President of HIP Developments. "Their focus on long-term ownership and quality will be very evident in Saginaw Gardens."

"We look forward to expanding our ownership in Cambridge , which remains an attractive apartment market for Killam ," noted Philip Fraser , Killam's President and CEO. "We are optimistic about the development of new rental suites in the city as the demand for high quality newly constructed apartments continues to be very strong."

Corporate Profile

Killam Properties Inc., based in Halifax, Nova Scotia , is one of Canada's largest residential landlords, owning, operating and developing multi-family apartments and manufactured home communities.


SOURCE Killam Properties Inc.

Image with caption: "Killam Properties Inc. has begun construction of Saginaw Gardens, a 122-unit luxury apartment building in Cambridge, Ontario. (CNW Group/Killam Properties Inc.)". Image available at: http://photos.newswire.ca/images/download/20131213_C4549_PHOTO_EN_34965.jpg

Contact:

For more information please contact:

Killam Properties Inc. 
Dale Noseworthy, CA, CFA
Vice President, Investor Relations & Corporate Planning 
dnoseworthy@killamproperties.com
killamproperties.com
saginawgardens.com

HIP Developments Inc. 
Scott Higgins, Vice President
scott@hipdevelopments.com
hipdevelopments.com

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