Baydo Development is eyeing mid- to high-rise projects and expanding into Toronto and Vancouver.
By Kat Zeman
As a part of its shift towards mid- to high-rise projects, Baydo Development plans on expanding into Toronto and Vancouver.
The Saskatoon, Saskatchewan-based land and real estate developer, which started out building townhomes and for-sale products, specializes in building purpose-built rental apartments and commercial and light industrial developments. But the company is shifting into a taller market.
“Our vision is taller and bigger,” says Chris Luczka, vice president of finance. “We’re shifting into taller buildings. That’s one of the reasons we have to look at expanding into Toronto and Vancouver. We’re moving into Toronto this fall and we’re in negotiations on land in Vancouver.”
Baydo Development is in the design phase for its first project in Toronto – a 12-story apartment building. The 70-unit rental has planned commercial space on the ground floor and two floors of underground parking. A 91,000-square-foot project, it is set to break ground in winter with a targeted completion date in early 2021. The building will offer a mixture of one, two and three-bedroom units.
“This project is a part of our expansion into Toronto,” says Stephen Gray, vice president of operations. “As a design/build company, we put a lot of effort into a project. So, the larger the project, the higher our economies of scale.” As a part of its expansion, Baydo Development also plans to open satellite offices in both Toronto and Vancouver.
Although the company has plans for expansion, its bread and butter is still in its hometown of Saskatoon, a city straddling the South Saskatchewan River in Saskatchewan, Canada.
One of the company’s largest projects to date, Baydo Flats, is under construction in Saskatoon. The higher-end apartment complex, which encompasses roughly 308,000 square feet, is expected to be ready for occupancy in early 2019.
“It may be one of the biggest rental projects in Saskatoon,” Gray says. “That makes it kind of special.”
Luczka adds that the building is located in one of the best locations in the city. “It’s adjacent to a school and within walking distance from grocery stores and restaurants. Plus, it’s on a major bus route that goes downtown.”
The complex is made up of two four-story buildings that total 228 units. Its amenities include fitness facility, yoga room, resident lounge and vending machine area. Each unit also has a separate storage area, its own washer-dryer and individually controlled air conditioning.
One bedrooms start at $1,100 and three-bedroom penthouse units go for around $2,000. Units range in size from 600 square feet to 1,800 square feet.
First of Its Kind
Baydo Development has another prestigious project in the works in Saskatoon and recently completed a first-of-its-kind development in a small town outside the city.
Parkside Flats, completed last year, is the first-of-its-kind purpose built rental development in a bedroom community called Martensville, near Saskatoon.
“There were no professionally managed rental apartment buildings in Martensville,” Luczka says. “We took a big leap going into that market. But there are no vacancies. Residents love it. It’s an absolute slam dunk for our company.”
Parkside Flats is a 47-unit, four-story apartment building near a park that encompasses roughly 48,000 square feet. It is a mixture of one and two bedrooms.
Named after its address, 880 Broadway, is still in the design stages. Set in a historical location in Saskatoon, the 68-unit mixed-use apartment complex is expected to break ground this summer.
“On the edge of downtown, it’s in a hip area where everyone goes to hang out,” Gray says. “It’s a spot that the city has designated for new developments. The downtown is going to grow and we’re a part of that.”
The 10-story building will feature two floors of commercial space with the rest being residential. Targeted for completion in spring 2020, the 91,000-square-foot building will house one and two-bedroom units that range from 480 square feet to 900 square feet. Every suite will have a private balcony or patio.
The complex will have a rooftop deck, community patio, lounge space, fitness facility and party room. Rent will range from $1,100 to $2,500 per month. “It’s the first rental project built in that neighborhood in the last 40 years,” Luczka says. “There really will be nothing out there like it.”
Knowledge and Expertise
Established in 2010, Baydo Development prides itself on its wealth of knowledge and experience in real estate development, engineering and design.
The company has a number of engineers on staff with expertise in structural, mechanical and electrical engineering. Its in-house design department has extensive knowledge in the areas of architectural, mechanical and interior design.
“That helps us control our costs from the design phase onwards,” Gray says. “We’ve also got a group of long-term trades and partners that have been instrumental in keeping our construction flowing – from bankers to insurance companies to concrete companies; and 50 to 60 percent of them have been with us since the beginning.”