New Apartments Set to Open in Owen Sound by Fall 2026

The first tenants are expected to move into newly constructed apartments at the former Black Clawson Kennedy site in Owen Sound by fall 2026. According to Geoff McMurdo, the chief operating officer of Kingsley Management, which is involved in the joint venture, the initial phase will consist of six four-storey apartment buildings. Construction will proceed in parallel, allowing tradespeople to transition smoothly from one building to the next.

While McMurdo did not provide a timeline for the completion of the final building, he emphasized the urgency of the project. “You’ve got to wait for the right time to go. But when you go, you’ve got to go quickly,” he stated, highlighting the financial implications of holding up construction. The project will create a total of 224 rental apartments on an eight-acre site, conveniently located just west of 1st Avenue West and near the harbor.

The site has undergone significant changes since its acquisition by Hansa Financial and Property Management in 2004. After presenting a site plan in 2006, the existing structures were demolished, but construction did not proceed until recently. A new site plan was submitted to the city in 2022, with permits for all buildings issued in April 2023. Preliminary grading is currently underway, followed by concrete foundation grinding.

Market Demand and Incentives

McMurdo described the location’s appeal, noting that it is within walking distance to downtown Owen Sound. While he refrained from discussing specific rental prices, he assured that the project will feature quality materials and design, aiming to meet the demand for housing without positioning itself as a high-end luxury option. He expressed confidence in the uptake of units, citing both the product’s quality and the pressing need for rental housing in the area.

The city of Owen Sound is supporting the project with approximately $3 million in incentives, which include relief on development charges, a Vacant Lands Tax Assistance Program, and a Landscaping & Property Improvement Grant covering up to 50% of eligible costs. This financial backing will help facilitate the creation of much-needed rental units.

In contrast to a downturn in for-sale housing, particularly condos, McMurdo noted a growing trend in purpose-built rental properties across Ontario. He attributes this shift to the lifting of rent controls in the late 2010s. McMurdo serves on the boards of both the Waterloo Region Home Builders and the Ontario Home Builders Association, providing him with a broad perspective on the housing landscape.

Broader Development Plans

As construction progresses at the Black Clawson Kennedy site, another significant project is underway on the east side of the bay. A groundbreaking ceremony was held in late August for the construction of three of eight Skyline rental apartment buildings, which will comprise 267 units along East Bayshore Road. Residents are expected to begin moving in within 18 to 20 months, with the entire project totaling 712 units. The city has granted a development charge exemption of just over $1 million for this initiative, recognizing its contribution to the community’s housing needs.

Additional rental projects are also emerging in Owen Sound, including the redevelopment of the former Georgian Heights long-term care home property, which will add 36 rental apartments at 1115 10th St. E. McMurdo remarked on the positive impact these developments will have, stating, “That’s definitely a good boost of rental housing in Owen Sound over the next 10 years.”

Reflecting on the project’s significance, McMurdo shared a personal connection, noting that his grandfather once worked at the Kennedy site. He expressed pride in contributing to the revitalization of a location with familial ties, calling it a “coming home type exercise.” As the project moves forward, the community can anticipate a new chapter in Owen Sound’s housing landscape.