The 255 Raglan Street project began in 2020 with the acquisition of a 6-unit multi-residential property situated on approximately 0.5 acres in Woodstock. While the existing building provided a strong investment opportunity, the long-term vision was to acquire neighbouring properties and assemble a larger development site capable of supporting future residential intensification.
The existing building, a large century home that had previously been converted into six residential units, offered a diverse mix of suites ranging from bachelor and one-bedroom apartments to spacious three-bedroom units. Our focus was to reposition the property by completing a comprehensive renovation of both the interior and exterior while preserving the character of the building.
The redevelopment included significant upgrades to the residential units, improvements to the building systems where required, and exterior enhancements that modernized the property’s appearance and increased its long-term value. The goal was to create a high-quality rental property while maintaining flexibility for future redevelopment opportunities as surrounding lands become available.
The property reached full stabilization in the fall of 2022, with all units leased at market rents. Following stabilization, the asset was successfully refinanced through a CMHC-insured mortgage, maximizing the property’s long-term financing and strengthening its overall investment performance.
Today, 255 Raglan Street serves as both a stabilized income-producing asset and a strategic land holding with future redevelopment potential. The project reflects our approach of creating immediate value through thoughtful renovations while maintaining a long-term vision for higher-density redevelopment opportunities as market conditions evolve.
