Model
CMHC MLI Select
- Mid-rise · 6–8 storeys · 25–50 units
- Permit: 8–12 months
- Build: ~16 months
NorthRock
Kirkland Lake, ON
Capital & Investment
Investment Structure
Model
CMHC MLI Select
- Mid-rise · 6–8 storeys · 25–50 units
- Permit: 8–12 months
- Build: ~16 months
Structure
GP / LP Partnership
- We act as General Partner
- Investors as Limited Partners
Returns
18% – 25% Annually
- ~15% equity required
- 25–30% asset strength (CMHC)
- Min. investment: TBD
Entry
Two Ways to Invest
- Cash investment
- Asset-based (land or property)
Project Overview
NorthRock is a modern workforce housing project at 12 Wishman St, designed for mining professionals with fully furnished micro-room suites, private bathrooms, and shared luxury amenity spaces.
Total Cost
$1.1M
Land + construction
Annual NOI
$180K
Net operating income
Exit Value
~$3.0M
At 6% cap rate
Equity
~$1.9M
Projected upside
Performance Indicators
Yield on Cost16.4%
Equity Multiple2.7x
Expense Ratio6.25%
Income per SF$64 / SF
Land Cost Share4.5%
Cost Breakdown
$1.1M
Construction
$1,050,000 (95.5%)Land
$50,000 (4.5%)Income Breakdown
$192K
NOI
$180,000 (93.75%)Expenses
$12,000 (6.25%)Value Creation
Cost
$1.1M
Basis
NOI
$180K / yr
Annual
Exit
~$3.0M
Value
Equity
~$1.9M
Upside
Compare
Development Cost$1,100,000
Exit Value~$3,000,000
Equity~$1,900,000
Location Map
Project Visuals
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Project Overview
- NorthRock is a modern luxury workforce housing project for mining professionals in Kirkland Lake.
- The building features eight fully furnished micro-room suites, each with a private bathroom and kitchenette.
- Shared family and living areas are designed to foster community, comfort, and rest after long shifts.
Design & Amenities
- The design balances premium residential character with efficient workforce housing planning.
- Warm materials, clean lines, and thoughtful shared spaces create a home-like experience rather than institutional lodging.
- Amenity spaces include a comfortable lounge area and shared living support for easy tenant transition and daily comfort.
Investment Appeal
- NorthRock targets stable workforce demand from mining operations in Northern Ontario.
- Projected stabilized value is approximately $3,000,000 at a 6% cap rate, with estimated equity creation of roughly $1,900,000.
- Low land cost, efficient development, and strong rental fundamentals make it a compelling income-focused opportunity.
Next Steps
Interested in NorthRock?
Reach out to discuss investment, partnership, or construction collaboration opportunities.