Toronto-based SAMM Developments is bringing a new rental concept to New Brunswick which pairs the amenities of its hotel assets with purpose-built rentals.

The company broke ground on its LivMore Magnetic Hill development at 2515 Mountain Rd. earlier this month.

The project is bringing 94 rental units to the area and will offer one-, two- and three-bedroom suites. In addition to its on-site amenities, residents will have access to the adjacent Days Inn Hotel with its swimming pool, restaurant, fitness centre and conference rooms.

"As a developer and contractor over 45 years, we are delivering to the consumers a lifestyle, a concept, not just a space to live in," SAMM president Ali Akman told RENX Homes.

The LivMore will also offer additional convenience services. "We will provide room service to the tenants, if they need (it), and cleaning. This is the concept," Akman said.

Moncton is a growing city

Moncton's fast growing population offered a solid foundation of demand for new rental development, Akman said. The city has experienced the second highest rate of population growth of Canada's metro areas, according to Statistics Canada data from 2025, growing at 5.1 per cent, outpaced only by Calgary.

"Moncton is an easy place to work," Akman added. "First of all, the local authorities had been very helpful to us during the development stage, and we got the permits much faster than in any other place."

He added: "I see a good demand. There are already brokers approaching us." 

Three rental projects currently underway

SAMM currently has nine hotels in Canada, including the Moncton Days Inn on Mountain Road, next to its LivMore development.

Akman said the company severed off a portion of the land it acquired with the hotel for its new rental project in the city.

Similarly, SAMM has severed some land from its Bathurst Comfort Inn property to build a 39-unit purpose-built rental, which will offer similar amenities and accommodations to the LivMore project.

The company is also developing a third rental project in Mississauga, however that 70-unit development is aimed at the luxury market and not associated with a SAMM-owned hotel. It will be located at 128 Lakeshore Blvd., near Port Credit.

All three projects are aimed for completion in 2028.

Pivoting to condo development

Akman told RENX Homes that despite eventually getting SAMM's three PBR projects funded through CMHC, the process was onerous and the company will not be pursuing rental development going forward.

He said the funding process took an enormous amount of time and paperwork, and in the end, did not offer enough benefit over a standard commercial loan.

"Our next projects will be all classic construction finance from institutional lenders," he said.

He acknowledged the difficulties of the condo market at the moment, but said the market will eventually improve. "The development business has cycles," he said.

Akman anticipates that the market will rebound in the next three to five years and hopes to start new condo projects at that time.

The company also hopes to continue to expand its hotel assets. Ackman said SAMM currently has four hotels in Ontario, four in New Brunswick and one in Nova Scotia and is seeking new opportunities in the Maritimes, Ontario and Alberta.

"We are expanding our portfolio," Akman said. "Every year, we intend to add two or three more hotels, around 200 to 300 rooms."

About SAMM

SAMM is a real estate development, investment and management company which has operated in Canada since 2013 across development and hospitality sectors. 

It's a division of Ankara, Turkey-based Akman Holdings, and also has a number of hotels in Ankara.