New rental complex under construction in Collingwood

Residences at Silvercreek in Collingwood, Ont. (Artist rendering)

Construction is now underway on a new rental housing development in Collingwood.

The Residences at Silvercreek on Prince of Wales Drive, formerly Highway 26, is a three-building, four-storey complex that will house nearly 190 apartment suites, which will increase the number of rentals in town by 33 per cent.

The complex will have open-concept suites with views of Georgian Bay, Blue Mountain Ski Resort, and Cranberry Marsh.

"Residences at Silvercreek is an effort across our group of companies, with resources leveraged and expertise utilized among several of our business units," stated Jason Castellan, co-founder and CEO of Skyline Group of Companies.

"With the town having a vacancy rate of only 2.5 per cent as of October 2023, we are proud to be providing new rental housing where it is needed most, bringing forward an opportunity for more people to live and work in this town," Castellan continued.

The complex will also house a 4,800 square-foot central amenity space with a kitchen, games room, gym, outdoor terrace, hot tub and pickleball court.

The development project is scheduled to be completed in the spring of 2026.