facility in Winnipeg’s brand new Refinery District. The latter project will be Marwest’s largest such facility to date and is an example of the larger and more luxurious of their two independent living models. Their smaller model is called The Melody, while this larger model is called The Williston. “We’re really excited about that one,” says Armin. “It’s really high end – it is non-combustible, structural steel, mason block. We’re not pursuing wood frame like many do in the low-rise arena. We’re going for non-combustible, and that’s because we are trying to deliver a long term value, not just a spreadsheet value to our investors. And due to our strong cost-saving initiatives, we were able to get our price-per-square-foot down to a comparable level of what a wood frame project would typically be.” Much like The Nest, that project is already under budget and ahead of schedule. “Our team is working really hard on it,” Armin says. “I’m extremely proud of what they are achieving there.” In addition to the three projects the company has under construction – The Nest in Spruce Grove, Ocean View in Nanaimo, and The Williston in Winnipeg – Marwest also has several more projects earlier in the development pipeline. For example, they have a permit-ready project in Kelowna called The Williston Saddleback which is waiting to go ahead, and they are entering the permitting stage on another project in Winnipeg called Molson and Concordia. A few years back, Marwest also launched the Marwest Apartment Real Estate Investment Trust (REIT), which is an unincorporated, openended real estate investment trust specializing in income-producing multi-family properties in Western Canada. That’s an offering they have on the TSX Venture under the ticker MAR.UN. It’s performing quite well and is rated highly by artificial intelligence tools. THE CONSTRUCTION SOURCE CANADA
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