Renfrew sells waterfront land to pave way for a new apartment building
Renfrew – Renfrew council has been working on a Waterfront Masterplan over the last year and a big piece of that plan took shape last week when council approved the sale of near the Bonnechere River, with the buyer committed to building a 24-unit apartment building.
Council agreed to enter into an agreement with Lero Properties for 210 Ready Ave. The property is intended for a future 24-unit housing development with proceeds from the sale expected to be directed to enhancements outlined in the Parks, Recreation and Waterfront Master Plan.
The land price is $245,000 and the site is located near the end of Ready Avenue beside the RCAF Park.
The report, authored by Eric Withers, Director of Development, Environment and Infrastructure/Deputy CAO, contained concepts of different apartment sizes for the proposed development which were submitted as part of the Expression of Interest. The concepts represent the maximum development potential -- including the potential enlargement of the property through adjacent land assembly.
Mr. Withers reminded council that although it was an exciting announcement and helps promote the potential of the waterfront as envisioned in the draft Master Plan, the buyer is not bound to replicate the conceptual drawings.
“For clarity, the proponent is not bound by the concepts,” he said. “Rather, a condition of the sale, and the subsequent repurchase agreement, requires the construction of a 24-unit building, being the anticipated development potential of the town property alone.”
Mayor Tom Sidney echoed Mr. Wither’s comments that the buyer is not obligated to follow the conceptual drawings, and he also highlighted the benefits of the sale of the land.
“I think there is a three-part win to this,” Mayor Sidney said. “One, were getting housing that is very much needed, and that includes affordable housing. It’s adjacent to, and more people will start using the park, and that’s probably one of the most beautiful parks we own. Finally, it’s going to provide financials for us to improve that park and we will have access to that park.
“So I think it’s a win-win-win for us and I am looking forward to it. I believe in this developer and I’ve met with him and he’s a doer. I am hopeful this goes through.”
Mr. Withers said the purchase price was negotiated based on land appraisals. Contributions of the project to the nearby parkland are also being considered. He added the next steps include background studies, engineering investigations and design, zoning, site plan, site servicing and other items.
Bruce McIntyre, Local Journalism Initiative Reporter, The Eganville Leader
