AWARDED CHARLOTTE COURT REDEVELOPMENT
The Government of Prince Edward Island and the Government of Canada
have announced that Killam Properties has been awarded the
redevelopment of the Charlotte Court senior citizen’s complex in
Charlottetown, Prince Edward Island. Charlotte Court is a
forty-eight (48) unit subsidized seniors housing facility located at
300 North River Road in Charlottetown, Prince Edward Island. In
March the Government of Prince Edward Island issued a tender for the
redevelopment of the aging facility.
APM, acting as the agent and project manager for Killam Properties
put forth the winning proposal for the redevelopment of the
facility. The proposal is to provide a newly constructed, modern
and energy efficient, apartment complex designed to maximize the
potential of the site and to provide a positive living environment
for current and future tenants. The redeveloped property will offer
forty-eight (48) units at an affordable rental rate subsidized and
overseen by the Department of Community Services, Seniors and
Labour, in the same fashion as those subsidies previously offered to
tenants at Charlotte Court.
The redevelopment is being led by APM's CEO, Tim Banks who is also
a Director of Killam Properties. "Killam Properties" undertaking of
the Charlotte Court redevelopment is a tremendous investment in the
Prince Edward Island economy – upwards of eleven million dollars
($11,000,000). It will be realized throughout the Island economy,
providing new jobs through construction of the facility and its
on-going operations and increased choice with a high quality new
housing product”, exclaimed Mr. Banks.
The new Charlotte Court will be a three storey building with
amenities including an elevator, common gathering room, laundry
facilities on the second floor and a fitness room on the third. A suite mix of units,
larger than those offered at the current Charlotte Court, will be
constructed with one and two bedroom suites, including a complement
of barrier free units.
Mayor Clifford Lee was present at today’s announcement, offering his
excitement and the full cooperation of the City of Charlottetown in
completing this project in a timely manner. Construction is
anticipated to begin in early August.
Killam Properties currently owns and manages twelve (12)
multi-tenant buildings in Charlottetown, including: Queen Street
Apartments, Bridlewood Apartments, Kensington Court, Island Dale
Estates, Horton Park, DesBarres House, Burns Avenue, Country Place,
505-525 University Avenue, 27 Longworth and 198 Spring Park Road.
Both Bridlewood Apartments and 198 Spring Park Road are newly
constructed buildings catering to seniors with elevators and other
barrier free amenities. Killam Properties will own and operate
Charlotte Court as an addition to their Island portfolio. President
and Chief Executive Officer, Philip Fraser, expressed his confidence
in the long term viability of the project; “We look forward to
working with APM and the Department of Community Services, Seniors
and Labour to provide a responsible redevelopment of this
property” said Mr. Fraser.
Official press release