BURLINGTON, ON– Mayrose-Tycon Limited principal Matt Jaecklein recently introduced MADY Development Corporation as the builder of Burlington’s new mixed-use waterfront development, which will include condo, retail and hotel components..
The ambitious development at the prime Bridgewater site—the downtown waterfront location owned by Mayrose-Tycon for more than two decades—is predicted to inject new life into Burlington’s waterfront across a range of residential and commercial uses.
Upon its completion, the 1.68 acre, 340,000-square-foot mixed-use development will consist of an eight-storey, 152-unit top brand four-star hotel, 170 luxury condominium units across two towers—expected to sell between $500,000 and $3 million, and all featuring lake views—as well as ground-level commercial retail space. It will also include three levels of underground parking. The project includes a central public square with direct access to the Waterfront Trail and Lake Ontario.
The development is expected to deliver $250 million in total financial benefits to the local community over 20 years, including 600 man-years of work and 200 full-time jobs. Approximately 300 new residents will occupy the two residential towers.