Security Building: 31 downtown apartments, $50,000 City grant plus a tax rebate

The Security Building at 267 Pelissier is now 31 apartments. City records: a $50,000 conversion grant plus an estimated $40,540 in tax rebates, about $2,900 a unit, on a $5.05M cost estimate, about $163,000 a unit. Final cost and occupancy not public.

The Security Building is a 10-storey art deco office tower built in 1927 at Pelissier Street and University Avenue West, across from the Capitol Theatre. City report S 16/2023 says it was designed by architects Pennington and Boyde and is listed on Windsor's Municipal Heritage Register, but is not designated.

The owner, 2734844 Ontario Ltd., applied to convert eight of the building's 10 office floors into 31 apartments and keep two floors for commercial use. The applicant estimated the project cost at $5,050,000.

The development and heritage standing committee recommended two incentives under the Downtown Windsor Enhancement Strategy and Community Improvement Plan on March 6, 2023. City council approved them on March 20, 2023, as part of its consent agenda (decision CR142/2023).

The Upper Storey Residential Conversion Grant pays $5,000 for each new unit, up to $50,000 per property, and is paid only after the work is complete. The tax increment grant returns 100 per cent of the increase in municipal property taxes for five years. The owner pays the full tax bill each year and then receives the grant. City staff put total incentives at $90,540, or 1.80 per cent of estimated eligible costs.

In February 2026, AM800 reported that leases were being taken for move-ins from April 1, with one-bedroom units at $1,600 a month and two-bedroom units at $1,800, plus utilities. The City's February 2026 Mayor's Monthly Update said 31 units were available and that both grant programs supported the conversion.

For comparison, the Windsor Star reported in January 2026 that a City staff report estimated construction of the planned 188-unit tower at 629 Riverside Dr. W. at $80,330,241. The City says its Pelissier Park townhouse project is an investment of about $16.8 million for 48 units. Both are new construction projects.

Public records reviewed by Windsor News do not show whether the $50,000 grant has been paid, the actual tax rebate, the final project cost or how many units are rented. Windsor News found no provincial or federal funding for the building.