Grey Highlands sells property to development property
Grey Highlands is selling some municipal property in the Beaver Valley to Westway Capital.
The deal subject to what officials call a ‘due diligence’ period.
There was an offer to purchase the land in June and the sale is intended to catalyze and revitalize the area through potential development incorporating health and wellness principles and ensuring the integrity of the surrounding environmental and ecological lands.
During the due diligence period, the development team will be meeting regularly with representatives from Grey Highlands Council and staff to help align future development with the community vision for the entire Beaver Valley corridor.
In 2019, in support of the Municipality’s 2019-2023 Strategic Plan, Council directed staff to explore opportunities for the development of the Municipally-owned lands in both the Beaver Valley and downtown Markdale.
“Council has spent many hours discussing the ideas brought forward related to the Beaver Valley lands in question and has carefully weighed the options for a balanced approach to future development. The sale of these Municipally-owned properties will cultivate the use of land already designated for development; explore the tourism and recreational development potential of the lands; optimize the use of existing and planned infrastructure, including increasing usage on the existing water system; generate opportunities for significant direct and indirect employment; generate annual property tax revenue for the benefit of all residents in the Municipality; and support long-term economic development and destination development and management,” said Paul McQueen, Grey Highlands Mayor.
The redevelopment of the recreational lands has been years in the making as Talisman Resort has changed ownership several times over the years, with the Municipality recently acquiring the 74.8 acres of the former golf course property and the 58.9 acres of recreational lands overlooking the ski hills.