SwissReal Group

March 30, 2015 14:05 ET

SwissReal Group to Boost Northwest British Columbia Housing Supply With New Townhouse Development in Terrace

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 30, 2015) - SwissReal Group, a Vancouver-based real estate development company, has been granted a development permit by Terrace City Council to construct a 35-unit townhome development in the city's bench community. Once complete, the McConnell Avenue Townhouse Project will provide attractive, affordable, quality family-oriented housing needed to meet rising demand from natural resource development occurring in northwest British Columbia. Terrace City Council unanimously approved SwissReal Group's proposal at a March 23 meeting.

"The vast number of existing and proposed natural resource development projects in northwest British Columbia is driving population growth and increasing demand for attractive, affordable, well-made family housing in the region. Townhomes provide a more affordable alternative to single family homes and a more spacious option than multiple-unit condominium dwellings. We are pleased Terrace City Council embraces our desire to support the growth and prosperity of the city, while enhancing the lives of community residents," said Franz Gehriger, president and CEO of SwissReal Group.

The McConnell Avenue Townhouse Project will feature three-bedroom, two-story, tasteful, sophisticated, high quality, well-constructed Craftsman style homes averaging 1,480 square feet, nestled in a landscaped development with an outdoor common green space which includes a children's playground.

SwissReal is scheduled to break ground on the 2.7 acre lot next month, beginning site preparations and road extensions. As part of the project, Cory Drive will be extended from Jolliffe Avenue to McConnell Avenue. Construction will begin later this spring and wrap up in the summer of 2016. SwissReal takes a socially responsible, community-focussed approach to real estate development, by working with local contractors and service suppliers where possible.

"The economic future of British Columbia is in the north, being driven by the vast natural resources in the region. Having sufficient housing in place to meet the population demand will be essential in helping communities like Terrace effectively manage the growth. This takes proactive planning by the cities and a strong commitment by real estate developers. SwissReal wants to be part of the long-term solution and work in partnership with local governments in northwest British Columbia to sustainably and responsibly grow their communities," said Gehriger.

About SwissReal Group

SwissReal Group is a diversified commercial and residential real estate business based in Vancouver, specializing in property management, development and new investments. SwissReal plans for long-term investment in northwest BC: Terrace, Kitimat & Prince Rupert. SwissReal takes a socially responsible, community focussed approach to real estate development. SwissReal is committed to building quality, tasteful projects in partnership with local governments and community stakeholders. SwissReal's business philosophy is to contribute to building healthy, thriving communities by supporting local contractors and service providers. Their flagship development The Exchange Project is a new 31 story office tower being constructed in Vancouver, which will retain the façade of the historic exchange building. SwissReal Group has more than 35 years of experience investing in, developing, and managing real estate property.

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