Projects Update

In our last update, we noted that Upper James had received conditional Site Plan Approval, with city comments being worked on for our resubmission.

Currently, we are refining the project design for Upper James to enhance cost efficiency. As part of these efforts, we are modifying the project drawings to eliminate the previously planned underground parking and transition to podium parking instead, a change that will result in significant cost savings. Additionally, we are evaluating potential adjustments to site access. These revisions are being made with the goal of aligning the project more closely with both financial objectives given the current condo market, as well as regulatory requirements.

Upcoming Milestones:

Site Plan Resubmission (Cycle 3): Q2 2025

Timelines:

Zoning: Complete
SPA: Q1 2026
Building Permit: Q3 2026

All projected timelines are indicative and reflect current market conditions and planning assumptions. As with any development project, these estimates remain subject to change due to evolving regulatory, market, and construction environments. Accordingly, dates should be considered as targets rather than definitive deadlines.