Vive Development Corporation Acquires Large St. Catharines Parcel for Regionally Significant Rental Housing Project

Vive Development Corporation, one of Canada's most prominent purpose-built rental developers, announces their acquisition of 142 Queenston Street, St. Catharines, as of November 4, 2024

ST. CATHARINES, ON, Nov. 18, 2024 /CNW/ - Vive Development Corporation proudly announces the acquisition of the +12 acre property, located at 142 Queenston Street, St. Catharines. The site is just South of Lake Ontario, and was previously home to The St. Catharines General Hospital, which closed in 2013 after serving the community for 143 years.

Located in a well serviced, central neighbourhood, this site is pivotal for the critical supply of rental housing in the Niagara Region. A multitude of parks, shopping, restaurants and grocery providers are within walking distance, and further development will encourage additional amenities to come to the area. "Vive is thrilled to expand our program of high-quality, well-designed housing to the Niagara Region and contribute to the economic success of St. Catharines," says Vive's Chief Development Officer, Stephen Litt. "With the proximity to transit and being centered between the Queen Elizabeth Way (QEW) and Highway 406, this location is perfectly suited to St. Catharines residents who want to work and play close to home, and to those that commute to our Province's larger cities on a daily basis."

Since 2015, Vive Development Corporation has been working towards delivering +2,500 new rental homes to the Ontario market, in addition to the 8 new build projects in Kitchener-Waterloo that have received occupancy since 2020. They are working tirelessly to expand housing development to other major cities in Ontario, including Milton and Guelph, and look forward to bringing their innovative practices to the Niagara Region as we reimagine the future of home. "We have already engaged in conversation with some of the local residents and city officials and share in their excitement as we work together to add to the triumph of this city," adds Litt. "Our team will be looking to city and regional staff to help bring this project to life in an area that requires new rental supply. This is a long-term investment for the community, and based on the scale of the project, a partnership between public and private sectors will be imperative to the success."

Further to this announcement, Mayor Mat Siscoe, Mayor of St. Catharines, said "We at the City of St. Catharines are incredibly excited to be working with Vive Development. They have a track-record that is second to none, and I have no doubt that their continued success in Kitchener-Waterloo will translate into an amazing project on Queenston Street that will help to transform our community for generations to come."

For more information about the St. Catharines acquisition, or future redevelopment plans, please contact Vive Development at [email protected] or [phone]. 

About Vive Development Corporation 

Vive Development is fully engaged and keen to do our part as a private developer, making an impact in the affordable housing space and broadening housing options in our community. As a rental developer with roots in Kitchener-Waterloo, we take a long-term view of our developments to ensure that we are supporting the achievement of sustainable housing outcomes for all communities we build in.

www.vivedevelopment.ca

SOURCE Vive Development Corporation