The Oakville TOC and the…

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025-1368

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175099

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The Oakville TOC and the proposal to issue an MZO on behalf of the developer, Distrikt Development, is nonsense and totally in opposition to the official plan approved by the Town for the Midtown property. There is no condominium market at the present or likely in the midterm future. The associated infrastructure costs for the Midtown development at an estimated $750 million will make it very difficult for any developer to make a profit on a questionable parcel of land. The increased traffic generated by the proposed development will prevent access to the present important Go Train station and put a huge pressure on the QEW which has undergone numerous upgrades over the last 20 years. As someone who has experience in real estate development I find it difficult to understand how a Ministry can take control of this development. The Distrikt proposal is headed for bankruptcy under it's present high rise proposal. Who will finance it?The Town of Oakville will be destroyed by this development.