A Toronto developer broke ground today on a $30-million five-storey self-storage facility at the corner of St. John’s Sideroad and Leslie Street in Aurora, which they are hoping to turn into an entrepreneurial hub.
Declain Sinclair, the owner of Bayvest, the industrial development firm behind the 120,000-square-foot project, said the facility will include flex office space. While the self-storage facility will cater to residential clients, the ground floor will offer small businesses office space that can be used on a short-term basis, rather than having to sign longer leases.
“Our concept in general focuses in on small business and small business entrepreneurs. We wanted to create a space for them,” said Sinclair. “So this is where nascent businesses can start. So instead of starting a company in your basement, you can start it here.”
The facility is set to be within a larger business park along St. John’s Sideroad. Sinclair pointed to the industrial condominium units and restaurants that are planned for other areas of the park as plus points for his own project.
“Leslie from St. John’s south to Wellington has been one of our biggest growth areas as a business park,” said Aurora Mayor Tom Mrakas. “It allows entrepreneurs to be able to do start-ups at a reasonable price, I think it’s a great opportunity for a lot of people in our community.
“The way things are moving, where everyone is downsizing from a business perspective, this is a great facility to have in our municipality,” he added.
All told, Mrakas estimated development in the area would likely be happening for the next three to five years. Mrakas also noted a recent council motion to push for a Highway 404 interchange at St. John’s Sideroad, saying it would be a boost for the area.
Christian Nguyen, founder of Element PM Inc., a real estate development and construction project management firm overseeing the storage facility project, said the aim is to have partial occupancy available on the ground floors by November of next year, with the facility ready to be fully opened in 2026.
With many people currently choosing to live in smaller and more affordable housing options with limited space, they are turning to self-storage units, he added.
This design includes net-zero energy consumption, drive-in loading and a fully climate-controlled building.
