- What Two land parcels in the Muskoka region of Ontario are on the block for $100m
- Why An approved area development plan calls for 7,349 dwellings
- What next The parcels are part of a nine-phase master-planned community
Two land parcels in Ontario’s Muskoka region with development potential for over 7,000 housing units are on the market for $100m, Green Street News can reveal.
The parcels, at 190 Santa’s Village Road in Bracebridge, Ont., span a combined 280 acres, of which 181 acres are developable. The valuation works out to $552,000/developable acre.
Jamie Isherwood of Davids & DeLaat RE/MAX Niagara has the assignment on behalf of a private investor. The property is being marketed to experienced developers, REITs and institutional investors. Vendor take-back loan options are available.
The land is zoned for high-density residential, with Bracebridge’s official plan designating the parcels under West Bracebridge residential urban-centre land use. Permitted uses include convenience commercial, community uses or a broad range of dwelling types, including townhouses and detached homes.
The parcels have an approved area development plan in place for 7,349 dwellings. The plans comprise 980 single detached homes, 2,450 townhouses, 3,675 condo units and 244 accessory dwelling units. ADUs are separate dwellings on the same property as a main residence.
The lands are part of a nine-phase master-planned community and are considered to be phases eight and nine. Marketing materials note the vendor has received draft-plan approval for the earlier phases of the project. The first phase already is completed, and the remainder are moving ahead.
The parcels are 2 km from downtown Bracebridge and Highway 11.
Muskoka has around 1,600 lakes, making it a popular cottage destination, especially for residents of the Greater Toronto Area. Toronto is 150 km to the south.
National Geographic previously recognized Muskoka as one of the 10 best summer-trip destinations in the world.
