- What Whiteoaks Communications sold a residential development site in Oakville, Ont., for $33m
- Why Argo Development bought the site, with plans to build a low- to mid-rise development
- What next Argo has filed a development application with the Town of Oakville
Argo Development has bought a 26-acre residential development site in Oakville, Ont., for $33m, Green Street News can reveal.
The site, at 1303 Dundas Street West, was sold by Whiteoaks Communications. CBRE brokered the deal, which closed on Jan. 21.
Argo obtained a $100m loan against the property from TD Bank that same day.
As the deal closed, Argo submitted a development application to the Town of Oakville to build 142 homes on the land, comprising a combination of townhouses and single-detached houses.
The development, dubbed Argo Lions Valley, also would include a 2-acre stormwater management pond and a walking trail along the east side of the property.
A series of local streets would connect to Dundas Street West as well as a recently built residential development on the parcel immediately west of the site.
Roughly 3 acres of the site have been set aside for two higher-density developments.
The land is on the north side of Dundas Street West, between Third Line and Neyagawa Boulevard. It’s 1 km northeast of Oakville Trafalgar Memorial Hospital and 3 km from Highway 407. The Bronte GO station is 5 km away.
Nearby, at the intersection of Trafalger Road and William Halton Parkway, Argo also is pursuing the development of Argo Trafalgar, a multi-building condominium project with more than 3,000 units.
