Stalled Hyde Park development in Richmond sold to new developer

Hyde Park development in Richmond

Stittsville isn’t the only community with a large unfinished residential project.  The Hyde Park project was supposed to be a 92-unit retirement residence. It went into receivership in the spring of 2014, although there was some done on the building after that.

Here’s an update from the Richmond Village Association:

The assets of the company known as “Hyde Park Residences Inc.” have been sold with the approval of the Ontario Superior Court.   The buyer, Silver Maple Developments, has taken over management of existing residences and is proceeding with plans to complete the construction of unfinished buildings on the site located just off Nixon Farm Road in Richmond.

Mr. Alan McCafferty, local resident and CEO of the company which now owns the property, stated they are in the early stages of securing and cleaning up the construction site.  This is an important part of the process of discovering what needs to be done before commencing construction.  Mr. McCafferty has taken steps to meet with existing residents of the Hyde Park community to answer questions and open lines of communication on plans going forward.   In the not too distant future there will be a formal “rebranding and launch” of the project.  At present, the goal is to continue cleaning and securing the site with hopes of having the apartment buildings at the back of the property ready for occupancy early in 2016.  Construction of the large concrete structure currently known as Immanuel House will not recommence before the spring of 2016.  More details will be forthcoming as plans are formulated.

Rebirth of this important facility is welcome news for Richmond!


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4 thoughts on “Stalled Hyde Park development in Richmond sold to new developer”

  1. I would like to know if the units that are almost finished are going to be sold or rented?
    Will they be classified as condos or seniors apartments?
    If apartments are they golng to be affordable to the average senior on a restricted income?
    I am presently living in a seniors only residence at the moment but would be interested in a new apartment if it was affordable as my wife and I are on a restricted income which does not increase very much each year.
    Any information would be appreciated.
    Thank You

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