text: Consistent with the Company’s strategy to continue to add to its portfolio through developments, a second project in St. John’s was started 
  during the second half of 2013 within close proximity to Bennett House. The design and site planning for the 101‑unit complex is completed 
  and construction commenced at the end of the third quarter of 2013. In order to generate higher returns, the Company has approved a lower 
  per unit development cost. The Company has spent $7.1 million on this project to date including the cost of land and has satisfied the equity 
  component in order to obtain construction financing. Management expects an all cash yield of approximately 6% on this project. 
  
  Killam acquired land in Cambridge in early 2013, which consisted of a 5.2 acre site and developed a two‑phase plan for development for 244 
  units. Phase one will include 122 units and construction commenced in the fourth quarter of 2013, with development expected to be completed 
  in the spring of 2015. The Company has already contributed $6.0 million to phase one of the project, which represents approximately 82% of the 
  required equity contribution and the expected yield on this project is approximately 6%. 
  
  **Capital Improvements**
  
  Killam invests capital to maintain and improve the operating performance of its properties. During the year ended December 31, 2013, Killam 
  invested a total of $21.6 million in its portfolio, compared to $22.5 million in 2012. 