Flato Developments has a new deal with the Township of Southgate for 20 acres of land in the township’s Eco-Park in Dundalk.
The agreement was approved by bylaw at the Aug. 4 council meeting. The purchase price is $35,000 per acre, which is the standard rate for Eco-Park land.
Planned uses are commercial offices, light industrial and some residential on Ida Street leading to the other uses along Eco-Parkway.
The staff report estimates the total square footage of buildings planned at 100,000 square feet. The residential units planned are described as “economical for first-time buyers.”
An estimate of the construction value is $25 million, with money to the township from Development Charges (which are to pay for the costs of growth) estimated at $2.25 million.
No timelines were included from Flato, but the township is requiring that at least one building permit be taken out in a year and substantially completed within three years.
There was an agreement in place in 2016, which lapsed, for about 30 acres (surveys not completed). This time, the size is 20 acres, because of another proposed project, not yet disclosed. The staff report refers to “the introduction of the Green Lid Project in co-operation with Flato have reduced this property sale to about 20 acres.”
The CAO confirmed that there is no relationship between Green Lid and Flato, and said that details of the Green Lid deal will be made public when finalized.
In 2016, when Flato first put in its offer, about 14 acres were expected to be used for commercial and residential uses.
Complications followed, as the Eco-Park lands are designated employment lands. Also, staff raised questions about the compatibility of residential with the Dundalk sewage lagoons and with Eco-Park industrial uses.
This time around, “very few” residential units are planned, the staff report said.
Planner Clint Stredwick spoke to council in the last few months warning that the province is proposing to substantially increase setbacks from industry and from wastewater facilities.
The town of Dundalk is reaching its servicing limits for sewage. Efficiencies are being found for now, but expansion may be needed.
The sale is to close no later than Oct. 15. The agreement includes acknowledgement that current zoning is Industrial.
A clause in the agreement states that within one year, the purchaser will seek zoning to build some residential units on the property in compliance with the provincial setback guidelines and Southgate planning approval
M.T. Fernandes, Local Journalism Initiative Reporter, Dundalk Herald