Seven Stars Trade Corridor Corporation has acquired a local log home manufacturer setting the stage for a boost in the Parry Sound region’s housing market.
The acquisition of the builder located in the Parry Sound Industrial Park will allow GTA based SSTCC to enter Northern Ontario’s residential construction market.
SSTCC CEO Alexey Fokardi says the move is crucial to the company’s residential construction strategy in Northern Ontario.
“By bringing a well-established log home producer under our holding, we can continue to build on its strong local market presence. In addition to custom designed premium log homes, we plan to offer a line of competitively priced affordable houses to help address the housing crisis in the Parry Sound Area and across Northern Ontario” says Fokardi.
He adds, “We intend to closely co-operate with municipalities and First Nations in the region and expect to complete our first project in the Parry Sound District by the end of this year”.
The company’s first project will be an apartment complex for its employees and is currently looking for suitable parcels of land.
Parry Sound Mayor Jamie McGarvey welcomed the news saying, “This is another exciting growth opportunity. A success story with a local business transitioning to new ownership and expanding its product offerings and employment opportunities”.
The Mayor was also especially thrilled by the new owner’s plans to offer solutions for employee housing adding, “We wish all the success to this new venture and remain fully committed to promote and grow our Open for Business attitude.”
Seven Stars Trading Corridor Corporation is a Canadian affiliate of Isatex Invest Group, a construction and real estate management corporation located in Melitopol, Ukraine.
Considered a leader in its sector in southern Ukraine, the company has over 10 years of successful residential, commercial, and industrial development projects and employs over 600 people.