Midland Bay Landing Development Corporation (MBLDC) and the Town of Midland are very excited to announce that Town Council has approved a developer for the Midland Bay Landing waterfront redevelopment.
Council selected the developer at a Special Meeting of Council on July 4 following evaluation of proposals submitted by 3 short-listed developers and oversight by an independent Fairness Monitor who was engaged throughout the whole RFPQ/RFP process.
The selected developer is Georgian Communities Inc., headquartered in Barrie who have successful developments in their final phases in the Simcoe area including Braestone Estates in Horseshoe Valley, Mountain House at Blue, and Windfall at Blue in Collingwood. Working in tandem with Georgian is architecture firm, IBI Group, who bring extensive experience in waterfront redevelopment projects across North America.
Georgian Communities’ concept for Midland Bay Landing creatively builds on and enriches the current Master Plan which was developed through extensive public engagement with residents. The vision depicted in their concept drawings will act as a starting point for further refinement of the design with additional public consultation as the design evolves over time.
The Town and MBLDC will execute a Letter of Intent with Georgian that will start a 120- day Exclusivity Period when the developer, the Town, and MBLDC will collaborate on refining the design concept for the Phase 1 lands at the east side of the property which is planned for public realm space and low-rise townhomes. Then, the developer will purchase the Phase 1 lands from the Town, excluding the retained Town-owned public realm property.
Financially, Georgian’s proposal pays the Town a purchase price in Phase 1 that exceeds the original acquisition cost of the Unimin property. In addition, Georgian will construct the promenade and park space in Phase 1, a signature feature of the redevelopment, at no cost to the Town, further enhancing the Town’s return on investment.
Tax revenue from the townhomes in Phase 1 will expand the current tax base for the Town, act as a catalyst for rejuvenating and rehabilitating Midland, and generate market interest in the further development of Phase 2 that will include shops, live-work spaces, and more new promenade, parks, and public plaza.
Upon successful completion of Phase 1, Georgian will have an Option to Purchase the Phase 2 lands for redevelopment further increasing the Town’s return on its investment on its original purchase combined with providing more new public realm space, at no cost to the Town.
Council’s approval of the redevelopment of the Midland Bay Landing site will transform the Town’s waterfront from former industrial uses into a vibrant mixed-use community which is an enormous step towards creating a bright and prosperous future for the Town of Midland and the surrounding region.
Chair Kernohan said that “The Board of MBLDC is very pleased with the results of the fair and transparent selection process that was conducted by N. Barry Lyon Consultants. We would like to thank them for their expertise and advice throughout the RFP process. Now we look forward to working collaboratively with the Town of Midland and the selected developer during the next stages of this exciting transformation project.”
“It took many years of work and public engagement by multiple Town Councils to get the project to this stage,” said Mayor Stewart Strathearn. “We are pleased that this proposal provides so many important benefits to our entire community, and we look forward to working with Georgian and our residents to bring this exciting project to Midland.”
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