The Copper House

Revitalization of an underutilized site with residential and commercial development

Vision: Reposition strategically located lands to serve Bolton’s growth more effectively

The Copper House was formerly a purpose-built executive daycare facility for Husky Injection Molding Systems. With an ageing workforce, the site was underutilized and was a prime candidate for repositioning. Bolton is the downtown of the Town of Caledon. The community is quickly gentrifying. Already offering many amenities including entertainment, culture, restaurants and shopping surrounded by beautiful parks and trails, the community is in desperate need of thoughtful residential and commercial development to support a growing and diverse population. The medium-term leasing strategy was to support a much-needed daycare space, while simultaneously improving the lands via entitlements. The long-term vision includes re-entitling the subject site for a purpose built mixed-use property. That vision has been achieved with the disposition of the site to a retirement home builder and operator (V!VA Retirement Communities).

ELM delivered an IRR in excess of 70% with limited debt (sub-35% loan to value).