GRANITE REAL ESTATE INVESTMENT TRUST
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2023 · Filed Feb 28, 2024
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GRTUF$69.12-1.3%Stored close · as of Jul 8, 2026
Contents
EX-1 · Properties Under Development
Properties Under Development
As at December 31, 2023, the attributes of Granite’s properties under development and expansion projects were as follows:
| Development and Expansion Projects | ||||||
|---|---|---|---|---|---|---|
| Land acreage (in acres) | Expected sq ft of construction(in millions) | Start date of construction | Target completion date | Actual construction costs as at December 31, 2023 | Expected total construction cost(1) | |
| Properties under development | ||||||
| 4 Bowery Rd., Brantford, ON | 22.3 | 0.4 | Q2 2022 | Q1 2024 | 50.3 | 69.1 |
| 12 Wright St., Brantford, ON | 33.9 | 0.7 | Q2 2023 | TBD | 3.3 | 5.9 |
| Houston, TX (Phase III) | 101.5 | 1.3 | Q3 2023 | TBD | 0.5 | 3.4 |
| Expansion projects | ||||||
| 555 Beck Cres., Ajax, ON | 7.6 | 0.1 | Q1 2023 | Q2 2024 | 10.7 | 14.9 |
| Oude Graaf 15, Weert | 9.0 | 0.1 | Q4 2023 | Q3 2024 | 0.2 | 6.1 |
| 174.3 | 2.6 | $65.0 | $99.4 | |||
(1) Construction cost excludes cost of land.
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