Newsletter
THE REGENT, A MIXED-USE AMBITIOUS DEVELOPMENT IS OFFICIALLY MOVING FORWARD IN GROWING DOWNTOWN SUMMERSIDE
The revitalization of Downtown Summerside continues with the official announcement today of a new 5-story, 40 unit residential building development that will include 10,000 square feet devoted to commercial use. The Regent is a bold reflection of the needs of downtown, bringing residential stock and modern office space currently being sought by businesses right in the heart of our City's growing core. This project is sure to be a bold reflection of Summerside’s energy and diversity.
This contemporary and modern design will offer refreshed residential and commercial space in our growing downtown and is only steps away from our abundance of amenities in our downtown core. The revitalization of this former dilapidated site is welcome and expected news to the City of Summerside. Summerside is a community that is seeing a renewed spotlight for investment and economic energy, and that is exactly what is being reflected in this exciting project.
“Things are getting done here in Summerside! Today, I am pleased to announce another new mixed-use housing and commercial project in our downtown. The Regent is a beautiful five-story development that takes us another step forward on our journey to transform our downtown. Projects like this require developers to have confidence in the community they are investing in. Summerside has built a very solid foundation and combined it with an optimism and new energy that is attracting smart and transformative developments like The Regent, that will benefit our community now and for the years ahead,” states Mayor Dan Kutcher.
“The intrinsic value of Summerside, and specifically downtown, is undeniable. Its prime location and proximity to restaurants, hotels, sports arenas, and waterfront amenities and services make it an exciting investment opportunity that was hard to pass up," said developer Paul Jenkins. "We're thrilled to enter this fantastic and growing market with this property and project where we’re confident that the Regent is the first of many to come. We're committed to downtown Summerside and its growth trajectory while leveraging our unique development expertise to diversifying the core. Having modern options to attract residents and workers is a key opportunity we believe in, and this has manifested into this modern development,” concludes Jenkins.
“Summerside has always been known for its collaborative approach and we strongly believe that the city has a major role to play in helping transform our downtown. While investors like Mr. Jenkins have the opportunity to invest their money anywhere, Summerside takes this investment seriously and will work to bring our collective visions to reality to better our community. We thank Mr. Jenkins for his confidence, vision, and significant investment in reshaping our downtown core. We will continue to be innovative in our collaborative approach and always keep the long-term objectives of jobs and wealth for our city as two of our top priorities," added Director of Economic Development Mike Thususka.
The Regent is estimated to cost around $18 million, with construction to begin in the fall of 2023 and scheduled to open sometime in 2024. This project represents one of the most significant private sector investments in downtown’s history and represents the confidence in the Summerside marketplace. This mixed-use development is bringing forty residential units and 10,000 square feet of modern commercial space to downtown. In addition, the development will feature outdoor living spaces, underground parking, and leading-edge energy-efficient design.
For leasing inquiries on both the residential and commercial space, contact the development group at info@theregent.ca
This contemporary and modern design will offer refreshed residential and commercial space in our growing downtown and is only steps away from our abundance of amenities in our downtown core. The revitalization of this former dilapidated site is welcome and expected news to the City of Summerside. Summerside is a community that is seeing a renewed spotlight for investment and economic energy, and that is exactly what is being reflected in this exciting project.
“Things are getting done here in Summerside! Today, I am pleased to announce another new mixed-use housing and commercial project in our downtown. The Regent is a beautiful five-story development that takes us another step forward on our journey to transform our downtown. Projects like this require developers to have confidence in the community they are investing in. Summerside has built a very solid foundation and combined it with an optimism and new energy that is attracting smart and transformative developments like The Regent, that will benefit our community now and for the years ahead,” states Mayor Dan Kutcher.
“The intrinsic value of Summerside, and specifically downtown, is undeniable. Its prime location and proximity to restaurants, hotels, sports arenas, and waterfront amenities and services make it an exciting investment opportunity that was hard to pass up," said developer Paul Jenkins. "We're thrilled to enter this fantastic and growing market with this property and project where we’re confident that the Regent is the first of many to come. We're committed to downtown Summerside and its growth trajectory while leveraging our unique development expertise to diversifying the core. Having modern options to attract residents and workers is a key opportunity we believe in, and this has manifested into this modern development,” concludes Jenkins.
“Summerside has always been known for its collaborative approach and we strongly believe that the city has a major role to play in helping transform our downtown. While investors like Mr. Jenkins have the opportunity to invest their money anywhere, Summerside takes this investment seriously and will work to bring our collective visions to reality to better our community. We thank Mr. Jenkins for his confidence, vision, and significant investment in reshaping our downtown core. We will continue to be innovative in our collaborative approach and always keep the long-term objectives of jobs and wealth for our city as two of our top priorities," added Director of Economic Development Mike Thususka.
The Regent is estimated to cost around $18 million, with construction to begin in the fall of 2023 and scheduled to open sometime in 2024. This project represents one of the most significant private sector investments in downtown’s history and represents the confidence in the Summerside marketplace. This mixed-use development is bringing forty residential units and 10,000 square feet of modern commercial space to downtown. In addition, the development will feature outdoor living spaces, underground parking, and leading-edge energy-efficient design.
For leasing inquiries on both the residential and commercial space, contact the development group at info@theregent.ca
SUMMERSIDE XCHANGE ATTRACTS INTERNATIONAL CLEAN TECH COMPANY
Summerside to become the North American Base of Operations for WindTAK
The Summerside Xchange has reached a collaborative partnership with a Polish-based clean technology company called WindTAK sp.z.o.o. WindTAK has developed wind turbine technology that increases the effectiveness of turbine power production by upwards of 7%. As wind farms age, efficiency and productivity can become severely impacted. However, through advanced analytics and monitoring, wind farm operators can maintain high efficiency and production of these assets by utilizing the proprietary technology WindTAK offers.
WindTAK expressed an interest in growing into the North American wind power marketplace with a base of operations in Summerside. As part of their growth plans in North America, WindTAK requires product validation in the market with wind farm operators. The City of Summerside has agreed to invest in a pilot project by installing WindTAK systems on two of the four City wind turbines.
WindTAK, considered a “deep clean” technology company, uses small smart vortex generators and 3D-printed rotor attachments that optimize the flow pattern around the turbine rotor. The vortex generators, combined with a WindTAK gateway mounted to the turbine’s nacelle, provide a smart monitoring system for turbine performance. As a result, the blade aerodynamics is more efficient, producing more electrical energy. It is the same mechanism that makes the dimpled golf balls fly faster or automobiles drive further on a single gasoline tank. WindTAK’s system improves blade efficiency and increases the power production and lifetime of wind turbines while cutting the wind park operator costs by supplying information in real-time on critical "in front of the meter" energy sources.
“Prince Edward Island is unique,” says Chief Executive Officer Dr. Maciej Karczewski, “and Summerside is the perfect location to develop new ideas and gain a foothold in the North American market, especially in the clean tech sector. For an enterprise like ours, it simplifies everything and turbo-boosts the time required to test and take our products to market. We are planning on installing our systems on two of the four City wind turbines this fall and validate their performance for 12 months. As well, over the next six months, we will be setting up an office in Summerside, starting with three people and growing to 12 over the next couple of years.”
Mayor of Summerside, Dan Kutcher, says, “This pilot project will not only help the City reach Net Zero but will also establish WindTAK Canada Inc. in Summerside while providing the company with the necessary validation as it expands its technology business in North America. WindTAK's experience with Summerside is an example of how commercialization partnerships can be obtained by using City-owned facilities for the validation of technology while growing our local economy."
In 2021, the City of Summerside built on the experience and success of Living Lab and formed the business accelerator called the Summerside Xchange, a private-public sector collaboration to enhance support for early to mid-stage companies through their commercialization and expansion journey. This also expedited growth through rapid product development, mentorship, and financing.
If you are a local, regional, or international company that would like to partner with the City of Summerside to grow your company in a rapid, fast-paced commercialization environment, please contact Mike Thususka, Director of Economic Development, at mike@summerside.ca
Business Commons Corner
Summerside and PEI’s First Passive Industrial facility is well underway and still on target for spring 2024 occupancy. This 16,600 square foot multi-tenant industrial facility will lead PEI in Net Zero style buildings, running purely on green energy.
The City has secured an innovative renewable energy company leasing 8,000 square feet and is looking for tenants interested in the remainder of this cutting-edge, energy-efficient building. Leasing inquiries can be made through the Summerside Economic Development office at mike@summerside.ca
Summerside: Growing Like Never Before
The word “growth” is a popular term these days. Many places all over Canada are setting records and facing challenges. And while Summerside is among them, we are finding ways to grow and attract people, investments, and business activity.
A City is growing as aggressively as Summerside demands development, unlike anything in the past. Developers traditionally not interested in Summerside now have reason to take a closer look, ask some questions, act on their existing lands, and make a significant investment. Summerside is open for business, and the statistics back that up!
Summerside Quick Facts
If interested in learning more about investment opportunities, economic development support or opportunities for growth, please call our Economic Development Professionals.
We would love to chat.
Alternatively, you can email us at mike@summerside.ca.
It could be the most profitable email you have ever sent.
Michael Thususka
Director of Economic Development City of Summerside
275 Fitzroy Street, Summerside PE C1N 1H9
M: 902.432.0103, E: mike@summerside.ca
LET’S BUILD THE FUTURE TOGETHER!