Update Regarding Construction at Kensington Crossing

Redev Properties Ltd. is pleased to announce that Phase 1 of the construction of Kensington Commons is currently underway and progressing on schedule. Phase 1 incorporates the construction of two buildings, totaling approximately 27,000 square feet, to replace a building which was destroyed due to fire in 2013. Kensington Commons will feature modern commercial property designs, which will make it attractive to numerous high quality tenants.

Richard Crenian, the President of Redev Properties offers the following thoughts on the project: “We are extremely excited to have broken ground on the construction of Kensington Commons. The project, which was designed based on our specifications, give us an opportunity to build a top quality asset on the site of the centre. This should help to increase the future value of the project and greatly enhance our portfolio.”

The construction firm is currently erecting the steel frames for the two new buildings. From the pictures below, substantial progress is being made.


 
Construction is currently scheduled to be completed by late Summer 2014. Once fully constructed, the buildings will be ready for occupancy by new tenants in Fall 2014.