Developer looks at upscale condos for Picton harbour
Administrator | Oct 28, 2016 | Comments 60
Joseph Fras
A Calgary company is visioning an upscale 122-unit condominium project on 6.5 acres at Picton harbour.
Joseph Fras, president of Vericon Real Estate Ventures, out of Calgary, shared his plans with members of the Picton Rotary Club on Tuesday.
“I have been visiting the County for the past six or seven years and saw there weren’t many multi-family developments for the 55-70 age demographic,” he said. “Not everyone wants to live in an older home. Some want to have a maintenance free lifestyle.”
Fras said that reaching an agreement for the 6.5 acre Lester family property on the south side of the Picton harbour, brings opportunity for development of 110 upscale apartment condominiums (850 to 1,500 square foot) and 12 townhouses (1,600 to 2,000 square foot).
Price ranges are forecast at $450 per square foot for the condos and $650 to $850 per square foot for the townhouses.
Pre-selling is key, said Fras.
“We don’t want to have a nine-year project where we build phase one, then two and phase three,” he said, noting the company has embarked on pre-sale marketing with an aim to sell 70 per cent before construction. Fras noted the company wants to gauge interest before moving into the official planning process. He estimates that if approved, it would take about 28 months to build after site servicing.
The development plans have not yet been brought to the municipality.
Filed Under: Local News
How could water not be a priority in any strategic plan? Both urban and rural. We have all residents in this County facing water challenges.
Found it very interesting that the Counties water crisis is not identified in the strategic plan. The terminal ties into that.
The County is the least desired job opportunity for professionals unless you are just out of school and need job experience to move on. We have lost all long term Human Resources experience. Our former Planning Director bailed to Hastings. Our former Engineer is with Belleville. Our Commissioner in charge of our McFarland Home was sent along. Who is running Planning when a Terminal issue is up for answers? A lot changes in the County but the old ways of Shire Hall always live on.
Why is our Council seeking upper level government funding for this terminal prior to any public meeting relating to appropriate rezoning? That gives the impression that an inside deal was already provided to the entrepreneur. Council needs to provide the public full disclosure on this one. Present appearance is that this has full support and was able to jump appropriate planning protocols. I smell another OMB.
Difficult to understand why Council would support an environmental risk in a residential and tourism harbour. What is the gain, certainly not jobs,not that jobs should trump the environment anyways. The impact of heavy trucks on a Cty Rd 49 in crisis, residential homes, tourism and the safety of Picton’s water supply are all serious concerns that need to be front and center for discussion. Safety of water quality is and should be the deal breaker. Further, where is the environmental assessment prior to any public rezoning meeting.
And if you believe that ….! Pipelines are completely sealed and never leak, right. Lol
ADJ the sea cans for shipping garbage are completely sealed so they do not leak
And does that granfather clause include shipping Garbage!!! Stop and think about what your supporting.
Containers of someone elses city waste that contains God knows what sitting on a loading area dripping and eventually leaching into the Bay. What’s in it for the County but more truck traffic,enviromental issues and little to no jobs. I remember when the inspectors shut down and fined the Harrison plant in Cressy because there was a corn spill of some sort. Considered pretty mild to what we can expect from the Terminal loading operation.
Thanks Paul very well said.I don’t think they can control what happens out on the water.
Soon we won’t even be able to see the harbour for all the condos! This nice peaceful paradise is quickly being transformed into an ugly urban centre of disgusting condos for the transplanted rich and famous! How sad and obnoxious!