Elite Projects Update

As we come to the close of 2025, we reflect on a year defined by resilience, disciplined strategy, and meaningful progress across the Elite Developments portfolio. The Canadian real estate landscape has experienced notable shifts - from sustained interest rate pressures to evolving policy directions shaped by the federal government under new leadership through Prime Minister Mark Carney. Change always brings uncertainty, but it also brings opportunity. This year, Elite remained steadfast: focused, adaptive, and committed to delivering long-term value for our partners and the communities we serve.

Despite a complex macroeconomic environment, 2025 has been a successful year. We are proud to highlight three landmark achievements that underscore the momentum and strength of our organization: the successful opening of The Ambrose Condos in Brantford, the commencement of construction at our Riverview development in Caledonia, and the momentous groundbreaking in partnership with the City of Niagara . Each achievement reflects the strength of the relationships that surround us.

Grand Opening – The Ambrose Condos, Brantford

This year, Elite Developments proudly celebrated the Grand Opening and Ribbon Cutting of The Ambrose Condos, our 10-storey, 198-suite boutique residence in Brantford’s rapidly growing South Conklin neighbourhood.

Developed in partnership with Brooklyn Construction, this milestone marks the completion of one of Brantford’s most anticipated residential communities - a testament to thoughtful design, modern living, and lasting value. We extend our sincere thanks to Mayor Kevin Davis, City officials, partners, and community members for joining us in this momentous celebration. The Ambrose Condos is more than a building - it is a symbol of our continued commitment to elevating communities across Southwestern Ontario.

Groundbreaking – 4500 Park Street, Niagara Falls

Elite Developments was honoured to break ground on 4500 Park Street, our newest project in partnership with the City of Niagara Falls. This 360-unit development - with 20% dedicated to affordable and attainable housing - embodies our core pillars of partnership, collaboration, and building with purpose.

Developed in partnership with Brooklyn Construction, this milestone marks the completion of one of Brantford’s most anticipated residential communities - a testament to thoughtful design, modern living, and lasting value. We extend our sincere thanks to Mayor Kevin Davis, City officials, partners, and community members for joining us in this momentous celebration. The Ambrose Condos is more than a building - it is a symbol of our continued commitment to elevating communities across Southwestern Ontario.

Our deepest thanks go to Mayor Jim Diodati and the City of Niagara team for their trust and shared vision. We believe this initiative will stand as a flagship model for municipalities across Ontario, demonstrating the power of public-private partnership in creating meaningful housing solutions, revitalizing downtown cores, and supporting local economies.

Together, we are building more than homes - we are building momentum, opportunity, and a stronger future for Niagara.

Groundbreaking – Riverview Townhomes, Caledonia

We are equally proud to mark the official groundbreaking at Riverview, our 81-unit freehold townhome subdivision nestled in Caledonia’s beautiful countryside. With servicing complete and foundations underway, this project is transitioning from vision to reality.

We extend our gratitude to our partners, dedicated team, and homeowners who have placed their trust in us. Riverview represents another significant step forward for Elite, and we look forward to delivering a community that reflects quality, integrity, and long-term value.

Looking Ahead

As we look toward 2026, Elite Developments remains focused on advancing a pipeline that is both resilient and responsive to today’s market realities. Over the past year, we have strategically pivoted from traditional condominium models to purpose-built rental communities, completing extensive value-engineering reviews that strengthen long-term viability and accelerate project delivery. We are now working closely with CMHC to bring additional projects to market and put more shovels in the ground. While market conditions continue to evolve, we have the ability to adapt through our flexible product design, positioning us for continued success. Several of our developments are approaching their final stages of approval and moving toward building permit issuance, many of them located in high-demand, high-growth areas. The opportunities ahead remain significant, and we are confident that with the right strategy and partners, there is always room for growth.

As the Canadian real estate market continues to evolve, we remain firmly committed to navigating shifts with discipline, foresight, and strategic clarity. While markets remain selective, easing inflationary pressures and a more predictable interest-rate trajectory are anticipated to create a more constructive backdrop for housing development and long-term investment. With adaptable projects and strong fundamentals, we look forward to renewed opportunities across the real estate sector. We hope this outlook will bring us more progress, partnerships, and milestones for the new year.

On behalf of the entire Elite Developments team, we thank you for your continued trust and partnership.

We wish you and your families a joyful holiday season filled with peace, health, and joy and look forward to building an even stronger 2026 together.

With Sincere Regards,
Hamid Hakimi
CEO, Elite Developments