Given the recent slow down in the local real estate market, residents are concerned about the impact it may have on the status of ongoing or pending developments; in particular, in regard to what is happening with the Highland Gate development. Specifically, residents are concerned that there may be changes to the type of housing that will built and/or that the development could be abandoned altogether.
Let me address the concerns by stating that, as much as I and many others have ongoing concerns with the development, the terms of the development were set as per an OMB settlement. Any change to any aspect of the development (such as size of housing, density etc. ) would require the Minutes of Settlement to be opened up. To open the Minutes of Settlement would require all 3 parties to agree to any changes (the Town, the Ratepayers, and the developer). I can state that the Town has not been approached to open the Minutes of Settlement.
I have spoken with the developers – Geranium Homes – and I reviewed the concerns of the Highland Gate residents. Geranium has confirmed that the development is going ahead as planned. However, in terms of timeline of the development, aside from the 9 homes that have already been built, they will be building homes as they are sold. So – yes – this could take a while. In addition to the status of the development itself, the significant point of concern that I have heard from numerous residents is the status of the park. In my discussions with Geranium, I wanted to make sure that the development of the park would continue to go ahead as planned and would not be paused or stalled due to lack of sales. I have been reassured that development of the park is on schedule and, when the weather warms up, that work to complete the park will continue as planned.
If residents have any other concerns or questions regarding the Highland Gate development, please give me a call 416-543-1624 or email me email@example.com.