Tricar announces plans for 2nd major development in Stratford, ON

Nov 17, 2014

For Immediate Release – November 17, 2014

Tricar’s commitment to The City of Stratford continues with purchase of 140 Caledonia Street

Stratford, ON;  – Building off the recent success of Thirty Six Front Luxury Condominiums, The Tricar Group announces it will further their commitment to development in the City of Stratford with an exciting new project at 140 Caledonia Street.

Tricar recently purchased the 2.5 acre property which has been home to the Avon School since 1914 when the Stratford School Board purchased the site for $8100.  Additions and updates were made in the early 1950’s, however the school was officially closed in 2005 and sold to another investor in 2006.  Located in the Avon Ward, the school has sat vacant since that time.

Close to retail amenities in the new commercial nodes of the west end, blocks from Stratford General Hospital and within short walking distance of downtown and the Avon River, this is a prime location that will flourish with more dense and sustainable development as proposed by The Tricar Group.

Preliminary plans for the site include two, four-storey, boutique style condominium projects.  Based on feedback from clients and visitors to their Thirty Six Front project, these buildings will each include approximately fifty suites and offer a broader range of floorplans.  With quality finishes and Tricar’s award winning craftsmanship and design, these condominiums will expand the quality and luxury living opportunities in the area.  Pricing will start in the high $200’s.  Bringing more people to live, dine and shop in the downtown area will also provide a positive economic boost for the city and local businesses alike.

“Stratford is a city with a lot to offer including the arts, culture, dining and an abundance of nature to enjoy”, said Joe Carapella, President of Tricar. “There is a healthy market for this type of condo.  They appeal to empty nesters, retirees and busy professionals, providing a good investment opportunity with lasting quality and value.  We expect a great deal of interest in these projects.”

The Tricar Group has been developing and managing award winning multi-family high-rise buildings for almost 30 years.  An industry leader and a catalyst in the revitalization of downtown cores through the redevelopment of under-utilized sites, Tricar has earned the reputation as a progressive, responsible builder.  With an impressive portfolio that has grown to over 5000 quality homes across Southwestern Ontario including both high-rise apartment rentals and luxury condominiums, The Tricar Group is also an experienced, trusted builder. Innovative and quality craftsmanship have earned them numerous awards for architecture and design excellence while personal, dedicated attention to customer care has earned them the most coveted award as Ontario High-Rise Builder of the Year by the Tarion Warranty Corporation in 2014.

Previous developments in the area include Thirty Six Front Luxury Condominiums at 36 Front Street in Stratford, River House Condominiums in Guelph and Renaissance II in London.

Sales are slated to begin in Spring 2015 pending development approvals.  For more information and to register visit www.tricar.com/stratford

For further information, please contact:
Adam Carapella, VP Operations
The Tricar Group
519-652-8900 Ext 119