Back to SearchPurchase and sale negotiations with Slate Asset Management L.P. for the redevelopment of town-owned land at the beachfront have concluded.
“Unfortunately, the town and Slate are unable to reach an agreement on the final purchase price of these lands and our negotiations are at an end,” chief administrative officer George Vadeboncoeur said. “We thank Slate for their interest in the project, the professionalism they displayed, and the good faith in which they negotiated.”
“In addition to seeing a development that is in keeping with the principles of the Downtown Master Plan, negotiating a sale price that recognizes the taxpayer investment to acquire these lands is important to members of council,” Mayor Nina Bifolchi said.
Vadeboncoeur, the municipality’s negotiation team leader, said talks will now start with Bayloc Developments Inc., the town’s second preferred developer, identified through the request for proposals process last year.
“We look forward to meeting with Bayloc and discussing how we can reach an agreement that is beneficial to both parties,” Vadeboncoeur said.
The five parcels of land that make up the town’s beachfront properties are between Spruce and Third streets and north of Mosley Street. Redevelopment of the area is a priority for council. Mixed-use buildings and outdoor community space will rejuvenate the neighbourhood, making it more of a year-round destination.
Background information
Selection of Preferred Developer to Redevelop Beach Area 1 Lands
Additional background information
For a detailed look at the municipality’s efforts to redevelop town-owned land at the main beachfront, see our project page.
Slate contact information:
Karolina Kmiecik
Director of Communications
Slate Asset Management
SubscribeContact Information
George Vadeboncoeur
Chief Administrative Officer
Town of Wasaga Beach
30 Lewis Street, Wasaga Beach
Ontario, Canada L9Z 1A1
T. 705-429-3844 x2222
F. 705-429-6732
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