The City of Wasaga Seashore has yet one more hiccup in its multi-million-dollar plan to redevelop its iconic beachfront because it introduced Thursday it’s parting methods with FRAM Constructing Group and can discover choices for a brand new developer to take over the challenge.
Throughout a council assembly on Thursday, the City stated negotiations with FRAM had ended after the 2 sides could not attain a monetary settlement that aligned with its expectations.
Key sticking factors included disagreements over land worth and challenge phasing with Seashore Space 2.
The City burdened that the 2 sides parted methods amicably and that the door would stay open to work with FRAM sooner or later.
The seek for a developer for the beachfront challenge has hit its fair proportion of pace bumps over latest years.
In 2019, FRAM was chosen to develop the land however later introduced it might not be a part of the multi-million-dollar endeavor, successfully setting the challenge in limbo.
In 2022, the City started negotiations with one other developer, Bayloc Developments Inc., however, ultimately, that partnership was terminated after the 2 sides could not attain an settlement on the challenge’s timeline.
The next yr, the City introduced FRAM again on board to spearhead the challenge.
Regardless of the most recent setback, the mayor stated the City is assured they may have shovels within the floor by subsequent spring.
A brand new Request for Proposal posted on the City’s web site will stay open for 28 days. The City hopes to have a brand new developer on the desk earlier than Christmas.
In the meantime, Wasaga Seashore is transferring ahead with Sunray Group, an award-winning hotelier whom the City signed a Letter of Intent with on Thursday to deliver a premium lodge, with flooring retail and business makes use of to the beachfront.
