Royal oaks condos have been on the market for nearly a year.
Now the developer says it has finally put the finishing touches on a planned development at the site.
Royal Oak Oakes said it has completed a two-storey, three-storeys condominium at the royal site in the heart of Royal Oak’s central business district.
Royal Oaks has also begun construction on a five-storeym building on the west side of the site, the company said.
“The new Royal Oak Condominiums development at Royal Oak is the culmination of the hard work and collaboration between the company and the developer,” said Royal Oak chief executive Peter Sperl.
The project, which will be the tallest condominium in the region, is a partnership between Royal Oak and the development company, ROCO.
At the site the condominium will consist of one-bedroom units in a two storeys tower with two-bedroom apartments in a single-storeier building, with a further two-bedrooms in the lower level of the building.
A further four units will be located in the basement of the tower.
ROCO said the building will have retail outlets, office space and amenities such as a rooftop swimming pool, gym and laundry facility.
Sperl said the new condominium development will be constructed in phases and will be built on an approximately 1.3-hectare site.
Construction on the condoport development is expected to start next spring, he said.
The project is expected cost $6 million to $7 million.
Royal Oak’s Royal Oak Oaks, one of the largest condominium projects in the world, has been undergoing a major transformation as it pushes forward with plans to expand its business.
In January, the Royal Oak Company said it would invest $6 billion in its condominium properties, and it has since completed the final stage of the project.
Earlier this year, the condo company said it was looking to build new luxury residential and office buildings, as well as a hotel and office tower, as part of a $100 billion plan to create the world’s largest residential and commercial development.