Innovative solutions to create significant value
On behalf of a private developer, Intermarket negotiated the purchase and created a Business Plan for a high profile, 60-acre site that had a number of significant challenges:
• the lands were contaminated and the Ministry of Environment (MOEE) had registered a clean up order on the site
• an Official Plan Amendment, re-zoning and Plan of Sub-Division were required to build on the site
• in order to provide access to the site, a road was needed to cross an Ontario Hydro corridor
• the site sloped toward the CN Rail tracks and would likely require an expensive sanitary pumping station
• the site was low and required susbtantial fill
Intermarket created significant value by:
• cleaning up all the contamination on-site and removed MOEE Order
• finalizing all approvals, including an Official Plan Amendment, zoning bylaws and Plan of Subdivision for the 900,000 sf project
• negotiating an agreement with Ontario Hydro and constructing the access road
• finding an innovative solution to the sanitary servicing issue by finalizing an agreement to tunnel a sanitary line under the CN tracks and connect into an existing residential sewer line
• finalized an agreement with Ontario Hydro to create a “borrow pit” on their lands that provided fill and also a location to dump topsoil; with no material required to be trucked off or on to the site
The result is 900,000 sf of high quality industrial space that has been constructed in a prime location, on a site that was very challenged and now is extremely valuable