A Greater Toronto Area company is looking to get a foothold in northern Ontario, and it’s starting in Parry Sound.
Seven Stars Trade Corridor Corporation has bought a log home manufacturer in the Parry Sound Area Industrial Park.
Its goal is to get into the north’s residential construction market.
SSTCC’s CEO Alexey Fokardi says “This move is crucial to our long-term strategy vis-à-vis resident construction market 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.
“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. It will be an apartment house for our employees and we are currently looking for suitable parcels of land. We are very pleased with the level of cooperation and assistance offered by the Mayor, CAO, EDO and various Town employees, and intend to actively contribute to making the Town of Parry Sound an even better place to live and work. We already feel right at home in Parry Sound and would like to thank the local community for its hospitality and friendliness.”
Mayor McGarvey commented, “This is another exciting growth opportunity. A success story with a local business transitioning to new ownership and expanding their product offerings and employment opportunities. We are especially thrilled by the new owner’s plans to offer solutions for employee housing. We wish all the success to this new venture and remain fully committed to promote and grow our Open for Business attitude.”
SSTCC is a Canadian affiliate of Isatex Invest Group located in Melitopol, Ukraine. It is a construction and real estate management corporation with over 10 years of residential, commercial and industrial development projects.