Construction is well underway on a major waterfront housing project in Owen Sound that aims to add hundreds of new rental units to the local market. The development, located at 3195 East Bayshore Road, is being built by SkyDev on the former site of the RCA factory.
The site is currently being transformed into a large residential complex with a multi-phase plan. As of August 2025, work began on the first phase, which includes three six-storey buildings containing 267 rental units. Once the entire project is completed, the site is expected to feature eight six-storey buildings for a total of 712 units. This redevelopment represents a $100 million investment on land that sat vacant for years after the factory, which once produced radio and television cabinets, closed its doors.
The city has taken steps to support the project in an effort to address a critically tight rental market. When the development was first announced, Owen Sound had a vacancy rate of only 1.8 percent. To encourage this growth, the city provided over $1 million in development charge exemptions and invested $840,000 into local infrastructure upgrades. SkyDev has noted that their apartments across the country generally target those aged 55 and older, with average monthly rents of approximately $2,000.
As the city grows, local officials are also looking at how they manage parking for new construction. The City of Owen Sound is currently reviewing its rules regarding parking minimums as part of an update to the city’s official plan. Council is exploring the possibility of reducing or removing these requirements, particularly for developments located near transit or areas with existing alternative transportation options.
In other housing news, Lutheran Social Services is moving forward with a separate project known as St. Clare Place. Located at 1043 and 1057 3rd Avenue East, this facility will provide 40 affordable rental units for seniors. The project is situated near the Owen Sound Transit Terminal and includes 23 parking spaces for residents.
