Residents in Pickering and past watched intently when a singular alternative to personal a bit of close by Lake Ontario first appeared in 2023—and now, the Metropolis has gone public with their want to shut the deal.
The listings at 591 and 600 Liverpool Highway, encompassing an space often called Frenchman’s Bay, embody industrial buildings and zoning for residential use, and collectively whole $60 million (they had been first listed for about $100 million).
In December, Pickering Mayor Kevin Ashe advised Muskoka Area that town was “close to getting a deal” and had put aside $30.8 million of the 2025 finances for the acquisition. The finances {split} prices at $10 million from town and an anticipated $10 million every from the provincial and federal governments.
Itemizing agent Jim Kelly mentioned he’s all the time wished the Metropolis to be the client. “I would love to see the city be the custodian of the water. I think that’s the right thing, especially for the history that’s associated with it,” he says.
Kelly is referring to the distinctive purpose why the lake itself is up on the market, which dates again to 1853, when Queen Victoria signed a deed to include the Pickering Harbour Firm, that included possession of land beneath Frenchman’s Bay.
In late 2023, the Metropolis of Pickering employed consultants from KPMG to find out honest market worth of the land, which got here out to about $30 million; the Metropolis put forth two casual proposals based mostly on this evaluation, which had been rejected. On the time, Mayor Ashe expressed disappointment and mentioned Frenchman’s Bay “belongs in the public realm.”
Whereas Kelly mentioned he’s unable to touch upon why the proposals had been rejected because of the confidentiality of the method, he says he’s been working intently with the Metropolis for the reason that listings had been first put up. “We’ve all kept the City involved and kept them aware of what’s happening without divulging any confidential information,” he says.
Metropolis of Pickering media consultant Mark Guinto mentioned in an e mail that the Frenchman’s Bay sale has just lately been mentioned at an “in camera” or confidential assembly, and town can not remark, “except to say that discussions are ongoing.”
Kelly mentioned if a sale goes by way of, it might be finalized by mid-2025. “If the City are the successful party… I hope they capitalize on it and increase the recreational activities not just for Pickering and the GTA,” he says. “There’s an opportunity to put Pickering on the international tourist market.”
On its web site, the Metropolis of Pickering states the significance of Frenchman’s Bay being in public palms, “in order to safeguard from aggressive and overly ambitious development proposals,” in addition to to “enhance environmental stewardship of the Bay and surrounding lands.”
Associated Story The sale of 100+ acres of Lake Ontario may change the way forward for Pickering’s waterfront
Associated Story Yearly, Donovan Woods ranks the Nice Lakes. And he hopes you battle about it within the ice cream line
Associated Story This household cottage in Prince Edward County maximizes nature’s bounty
