BRANTFORD, ON, Feb. 26, 2019 /CNW/ - Zahlco Developments announced that it has closed on 120-138 Market Street and 31-35 Chatham Street on Jan 31st, 2019. The adjacent sites have some rented townhomes and commercial units. A proposal will be submitted for site specific zoning approval to accommodate a future nine storey, 205-unit rental apartment building, with 6500 SF ground floor retail space and four adjacent townhomes on Chatham Street.
"We are excited to be a part of the growing community of Brantford and to continue working with the City on this upcoming project" said Aaron Zahler of Zahlco Developments.
Amuka Capital was engaged to structure the private placement, underwrite the deal and to lead the equity raise for the project.
"The Brantford market has been one of the strongest housing markets in the past two quarters and when you add in WLU and all of the infrastructure required to support its expansion, we felt it was the right place to be investing. There is so much appetite for rentals in the downtown core and we feel honoured to be a part of adding much needed supply in the marketplace" mused Ben Feferman, Managing Partner of Amuka Capital.
Zahlco Developments has put together an experienced team of lawyers, architects, engineers and city planners to implement the required zoning amendment and heritage approvals. City Planner Mark Gladysz, from HeritageDowntowns.com, who previously worked for the City to revitalize Downtown Brantford, is now helping developers navigate the planning and heritage processes in downtown cores across municipalities throughout the GTA and Southern Ontario.
"The proposal by Zahlco will contribute to the City's downtown revitalization and residential intensification goals by adding several hundred much needed new residential rental units, in an architecturally compatible building" said Gladysz.
A boutique construction and development firm, Zahlco leads the industry with its innovative philosophy where construction and design are not mutually exclusive. Zahlco has curated a highly sought-after in-house development team to handle every decision from acquisition through rezone and design, and then construction. Zahlco has a strong reputation as being reliable and honest. A focus on quality service puts Zahlco ahead of it its peers and is one of the many reasons why Zahlco has become one of the premier construction firms in the GTA and Southern Ontario.
About Amuka Capital
Amuka Capital sources and underwrites unique real estate investment opportunities, principally invests in them and establishes partnerships for investors to participate. Amuka Capital Corp is registered under The Securities Act as an exempt market dealer in ON, BC, and AB. NRD # 62220
This press release contains "forward-looking statements" including statements with respect to Amuka Capital's potential returns and timelines. All forward-looking statements are based on current beliefs as well as various assumptions. By their very nature, forward-looking statements involve inherent risks and uncertainties. Readers should not rely on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Market Street Development Inc.
SOURCE Zahlco Developments
For further information: Zahlco Developments, Aaron Zahler, CEO, E:[email protected], P: 647-864-5015, W: www.zahlco.com; Amuka Capital, Aaron Meckler, Chief Investment Officer, E: [email protected], P: 647-502-3558, W: www.amukacapital.com