It’s all about seeing cranes reaching up into the sky over St. Thomas.
That was the observation of Mayor Joe Preston on Wednesday morning for the groundbreaking ceremony at the 14-storey Highlands Tower 1 apartment building .
It’s Phase 2 of the redevelopment of the former Timken Canada property at Talbot Street and First Avenue.
The 162-residential unit development is being undertaken by Fast Forward Ventures Capital of London.
In March of last year, approval was granted for the first of several towers expected to rise on the site.
Preston called it one more step in attacking the city’s housing shortage.
Phase 1 of the Timken property redevelopment featured the opening of a number of retail outlets facing Talbot Street.
St. Thomas native Jeff House of Fast Forward Ventures Capital tells myFM, “to make housing more affordable, we need to add more supply to the market of all housing types.”
House added, location is key as everything residents will need will be within walking distance, including banks and grocery outlets.
House noted there are another six acres at the east end of the property for further residential and commercial development with the potential for as many as four or possibly five apartment towers in the future.
