SmartCentres’ market entry strategy into residential development has been approached thoughtfully and with precision. In 2019, the SmartLiving subbrand was introduced, to support the REIT’s expansion into rental apartments, condominiums, townhouses, seniors’ residences and hotels.
SmartCentres leverages its in-house development team’s extensive knowledge of existing properties, markets and municipalities to drive all SmartLiving initiatives. In addition, an internal residential centre of excellence has been established, providing leadership, expertise and support across all SmartLiving projects.
To ensure the very best in contemporary, sophisticated design, every SmartLiving property has a hand-selected award-winning urban design and architecture partner, with a commitment to creativity, sustainability and innovative design. This includes domestic and international partners, such as Diamond Schmitt, IBI, Sweeney&Co, Turner Fleischer, WestonWilliamson+Partners and the world-renowned Claude Cormier + Associés.
Across the portfolio, applications have been submitted for over 15,000 residential units, inclusive of apartments, condos, townhomes and seniors’ residences. The first SmartLiving-developed rental apartment tower opened in Laval, Quebec in March 2020. Six more residential towers are under construction at the REIT’s flagship SmartVMC city centre development, with the first of five Transit City condominiums closing in the fall.