Phase 1 of the Laclie Street Reconstruction project and Tecumseth Street Reconstruction project were awarded to Arnott Construction Ltd. Both begin on Monday.

The project is renowned-architect Frank Gehry’s first residential building in Canada, and has achieved $1 billion in sales since its launch in June of last year.

The job report comes two days after the Bank of Canada raised its key interest rate by a quarter of a percentage point, bringing it to 4.75 per cent, the highest it’s been since 2001.

A memorandum of understanding between the town and development partners Streetcar & Dream will be sent for full council approval later this month.

Conard takes over from Ezio Savini, who retires this month.