We wanted to provide you with an update on the Frankfort Family Reena Residence project (155/165 Elm Ridge). We are making steady progress. We have received zoning approval and have submitted a complete site plan application.

Our anticipated occupancy date remains on target for 2025. This is an aggressive timeline and we are working hard to meet this target. The expected demolition is scheduled to take place between May and September 2023. This will be followed by an application for excavation and shoring, which we plan to submit sometime between June and November 2023.

We have engaged Fieldgate Construction Management Limited (FCML) who was also the Construction Manager for the Lou Fruitman Reena Residence in Vaughan. FCML will be on-site commencing in April 2023.

We are currently finalizing the permit drawings and working to identify and raise the capital contributions and financing required. Once this is completed, we will continue the process of evaluating unit allocations and will gain a better sense of how many units may be available within program areas.

We truly appreciate your interest in Reena and the Frankfort Family Reena Residence. We are grateful for your support as we work towards the completion of this new residence.