October 28, 2010
I don’t know…maybe that title was a bit heavy on the CAPS, but you have to admit that this is pretty crazy.
The Buttonville Airport in Markham is the largest privately owned airport in the country, and now it’s been sold to Cadillac Fairview. You know, the real estate giant who handles the Eaton Centre and is a partner on the new project LivLofts [map].
It’s 170 acres, and Cadillac Fairview has some big plans. Condos, retail shops and office space are all on the development table. Basically, a whole new town. That’s pretty exciting news! I mean, there’s not many undeveloped 170-acre tracts of land in the GTA.
But there’s a lot of anticipation as to the “style” of the development. No one wants more big box stores, hopefully it will be an awesome, walkable community that’s environmentally friendly. After all, you only really get one shot at doing it right!
So I’m sure everyone’s wondering…”How much?” Well, I am too.
According to the Star:
Neither side would divulge the cost of the deal, but a year ago the undeveloped acreage was believed to be worth between $100 million and $150 million.
But it won’t be for a while. A spokesperson for Cadillac Fairview said that we’ll have to wait several years for a shovel to hit the land.
Exciting times. Wooooooo.