Blog  //  Oakville Real Estate - Town Gets $15 Million

01 Apr. Posted by Ryan Crane in Oakville Real Estate | 0 comments
Oakville Homes

The Town of Oakville announced Friday it has received $15 million from a trio of developers in fulfillment of the 2006 North Oakville Secondary Plan (NOSP) settlement agreement.

Under the agreement, the developers — Great Gulf Group, Mattamy Homes and Trinison Management — get to develop 'Oakville Real Estate' in north Oakville, under the North Oakville Secondary Plan.

In exchange, one of the things the Town gets is money allocated towards the development and construction of North Park, including the newly opened Sixteen Mile Sports Complex, located on Neyagawa Boulevard just north of Dundas Street.

As per the agreement, the developers agreed in 2006 to fund the early construction of community facilities at North Park by way of a $10 million pre-payment of development charges and an additional $5 million voluntary contribution to the Town.

“North Park will be the cornerstone of Oakville’s newest neighbourhoods north of Dundas Street,” said Oakville Mayor Rob Burton.

“The fulfillment of this agreement shows a dedication to putting the community first.”

“We’re proud to continue our partnership with the Town,” said a spokesperson for all three developers in a written release.

“The new North Park facilities contribute significantly to the creation of vibrant and innovative neighbourhoods, as well as being an important community centre within the 'Oakville Real Estate' market and for its Oakville residents. We are pleased to be contributing to it.”

Sixteen Mile Sports Complex, a 196,000 square foot state-of-the-art quad pad arena, opened in September 2010 as part of the first phase of North Park.

This fully-accessible facility features one Olympic-sized ice pad with seamless glass and seating for 1,500 spectators, three NHL-sized ice pads, 22 change rooms, two multi-purpose community rooms, two practice pads and a full-service restaurant.

In addition, two full-size soccer pitches, located immediately north of the new Sixteen Mile Sports Complex are scheduled to be lit and in operation later this year.

Once completed, North Park will feature additional soccer fields, a splash pad, a children’s playground, a skateboard park, a BMX track, a community centre and a library.

Following intense negotiations, the Town announced in June 2006 that it had reached a settlement with major landowners regarding the Natural Heritage System (NHS) and key land use policies outlined in the Town's proposed North Oakville Secondary Plan (NOSP). 

As a result, important portions of the NHS were secured and the pending Ontario Municipal Board (OMB) hearing was shortened significantly.

As part of the NOSP planning process, the Natural Heritage System (NHS) for North Oakville was been defined with backing from all orders of government - the Province and Region, as well as Conservation Halton.

In a good faith effort, the landowners agreed to donate to the Town free of charge, all of the lands identified in the NHS that they owned — approximately  145 hectares (356 acres).

In addition, the landowners agreed to contribute $15 million — $10 million from pre-payment in development charges and $5 million as a voluntary contribution — toward the development and construction of a sports complex at the Town's North Park.

Oakville Real Estate and Homes for Sale in Oakville

04/01/2011 – The article was posted by Ryan Crane, an 'Oakville Real Estate agent' that specializes in the Milton, Mississauga, Burlington, and 'Oakville Real Estate' markets. Find him at www.oakvillerealestate4sale.ca.

Oakville Real Estate Agents website offers MLS tools that let you find all Oakville Homes for Sale and gives you access to all Oakville MLS Listings and the Sold Prices for Oakville Sold Properties.

Source - David Lea – insidehalton.com

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