The Regent, A Mixed-Use Ambitious Development is Officially Moving Forward in a Growing Downtown Summerside
SUMMERSIDE, PE – The revitalization of Downtown Summerside continues with the official announcement today of a new 5-story, 40 unit residential and 10,000 square feet commercial development. The Regent is a bold reflection of the needs of downtown bringing much needed residential stock and modern office space being sought by business right in the heart of our City's growing core. This project is sure to be a bold reflection of Summerside’s energy and diversity of the Downtown Core.
This contemporary and modern design will offer refreshed residential and commercial space in our growing downtown and is just steps away from our abundance of amenities in our downtown core. The revitalization of this former dilapidated site is welcome and expected news to the City of Summerside. Summerside is a community that is seeing a renewed spotlight for investment and the economic energy and that is exactly what is being reflected in this exciting project.
“Things are getting done here in Summerside! Today, I am pleased to be announcing another new mixed-use housing and commercial project in our downtown. The Regent is a beautiful five story development that takes us another step forward on our journey to transform our downtown. Projects like this require developers to have confidence in the community they are investing. Summerside has built a very solid foundation and combined it with an optimism and new energy that is attracting smart and transformative developments like The Regent that will benefit our community now and for the years ahead.”, quotes Mayor Dan Kutcher.
“The intrinsic value of Summerside and downtown specifically, is undeniable, its prime location and proximity to restaurants, hotels, sports arenas and waterfront amenities and services make it an exciting investment opportunity that was hard to pass up", said developer Paul Jenkins. "We're thrilled to enter this fantastic and growing market with this property and project where, hopefully, the Regent is just the first of many to come. We're committed to downtown Summerside, its growth trajectory and leveraging our unique development expertise to diversifying the core. Having modern options to attract residents and workers is a key opportunity we believed in, and this has manifested into this modern development”, concludes Jenkins.
“Summerside has always been known for its collaborative approach and we strongly believe that the city has a major role to play in helping transform our downtown. While investors like Mr. Jenkins have the opportunity to invest their money anywhere, Summerside takes this investment seriously and will work to bring our collective visions to reality to better our community.
We thank Mr. Jenkins for his confidence, vision and significant investment in reshaping our downtown core. We will continue to be innovative in our collaborative approach and always keep the long-term objectives of jobs and wealth for our city as two of our top priorities," added Director of Economic Development, Mike Thususka.
The Regent is estimated to cost around $18 million, with construction to begin in the fall of 2023 and opening sometime in 2024. This project represents one of the most significant private sector investments in Downtown’s history and represents the confidence in the Summerside marketplace. This mixed-use development is bringing forty residential units and 10,000 square feet of modern commercial space to downtown. In addition, the development will feature outdoor living spaces, underground parking and leading edge energy efficient design.
Leasing inquiries on both the residential and commercial space can be field through contacting the development group at [email protected]
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The City of Summerside is located in Prince County, Prince Edward Island, Canada with the mindset of promoting and advancing its small city with big opportunities. Summerside offers a diverse market and skilled workforce and is a leader in sectors such as green energy, sport tourism and rapid economic growth. To learn more, please visit www.summerside.ca or connect through Facebook, Twitter, or Instagram.
For further information or media inquiries, please contact:
JP Desrosiers
Deputy CAO
City of Summerside
[email protected]
Tanner Doiron
Communications Manager
City of Summerside
[email protected]
Sandra Zarvie
Executive Assistant
City of Summerside
[email protected]