Skyline Group of Companies: 25 years in the making
Skyline Group of Companies celebrated its 25th year in business on January 27, 2024. The Skyline co-founders started out by buying and managing student rental houses, their very first being a student house on Cole Road in Guelph, Ontario. Since then, Skyline has grown to:
• $8.23+ billion in assets under management
• 20,000+ apartment suites
• Nearly 10 million square feet of industrial space
• 5+ million square feet of retail space
• Enough clean energy generated annually to power over 5,700 homes
• 1,000+ employees from coast to coast
• Operating in 160+ communities across Canada
• More than 5,700 unique investors
Skyline has been named one of Canada’s Best Managed Companies for 10 consecutive years (as of May 2024) and has been a member of the program’s Platinum Club for four years running.
Skyline’s co-founders remain true to their roots. Their first office was on Mont Street in Guelph and did not have washroom facilities… except a yellow pail. From there, the “Legend of the Golden Pail” was born, and each year, Skyline Golden Pails are awarded to employees who do an exceptional job of demonstrating Skyline’s P.R.I.D.E. values: Professionalism, Respect, Integrity, Drive, and Efficiency.
Real estate investment trust (REIT) structure
In 2006, Skyline moved to a REIT investment structure for its portfolio of apartment buildings, naming the fund Skyline Apartment REIT. Several additional funds followed through the years:
• Skyline Industrial REIT (2012)
• Skyline Retail REIT (2013)
• Skyline Clean Energy Fund (2018)
Building more homes
Skyline aims to be part of the solution to Canada’s housing crisis. For example, it delivers new rental housing developments in communities where they are badly needed. SkyDev, the real estate development entity within the group of companies, has also expanded into condo development.
Additional Skyline initiatives to promote more housing include:
• Breaking ground at Residences at Silvercreek in Collingwood, Ontario; this new 187-suite rental development will increase the town’s rental supply by 33%
• Investing $1.5 million in a two-year Habitat for Humanity Guelph-Wellington community bond to help bring a 32-unit townhouse project to fruition in Fergus, Ontario
• Planning alongside Kindle Communities and other project partners to soon hold the grand opening of 10 Shelldale Crescent, a 32-unit Permanent Supportive Housing development in Guelph, Ontario
Protecting the planet and giving back
Skyline is a proponent of environmental and social sustainability. Its in-house Sustainability Department and Sustainability Taskforce are dedicated to ensuring the company’s sustainability activities are impactful, innovative, and aligned with its vision. This includes incorporating sustainable elements at Skyline properties, including (but not limited to) EV chargers, solar arrays, community gardens, honey bee hives, and water-saving and electricity-saving measures. Skyline upholds a culture of service, volunteerism, and giving back to the community. It supports its residential tenants through Skyline Living’s R.I.S.E. program, providing access to community resources and/or financial assistance. In 2023, Skyline saved 150+ tenancies and provided over 100 grocery gift cards to tenants requiring assistance. Skyline also holds major annual fundraisers and facilitates many other community initiatives throughout the year, all in an effort to help solve issues like housing insecurity, food insecurity, and mental health challenges. In 2023, Skyline donated $316,600 to 41 charitable initiatives across Canada.
18 | May/June 2024