New Development to Benefit The Kawartha Lakes District and The Village Inn of Lakefield
A Toronto Developer, Sage Equities (Canada) Limited, has purchased 35 acres of the Lakefield South Development lands located adjacent to the Ontario Speed Skating Oval site.
Lakefield Ontario (PRWEB) April 5, 2008 -- A Toronto Developer, Sage Equities (Canada) Limited, has purchased 35 acres of the Lakefield South Development lands located adjacent to the Ontario Speed Skating Oval site. Sage is planning to build a combined residential and commercial environmentally friendly development and hopes to take full advantage of the district energy potential offered by the Ontario Speed Skating Oval. Great news for Peterborough and The Kawartha's as this exciting project continues to move forward, fulfilling the reality of a permanent, international, winter attraction.
Sage Equities Limited, led by President Uzi Ziv, has specialized in complicated transactions that always involve creating value for Sage and its partners. Ziv and Sage Equities have completed transactions exceeding $150,000,000 in total in various segments of the market including retail, residential, construction and commercial.
The property purchased by Sage will provide the access and services corridor for the full 300-acre parcel that was designated in 2001 as the Lakefield South Development Area by the Township of Smith-Ennismore-Lakefield (SEL). Sage's plan is to develop their 35-acre property in phases so that they will be able to work with the SEL and adjacent landowners to create the road and utility services required to fully develop this area.
"Exciting news for sure", stated Joseph Rudkins, the Innkeeper at The Village Inn of Lakefield, (http://www.villageinn.ca), and a director on the Speed Skating Oval board. " A large, permanent attraction, especially one that will re-energize the winter tourism market in The Kawartha's is welcome, " added Rudkins. "The broad appeal of this project, to families, couples and groups alike, will benefit all members of Kawartha Lakes tourism and the Peterborough area in general."
The first development stage will be the construction of a commercial and retail corridor from County Road 29, (also known as the Lakefield Highway, between Peterborough and Lakefield), to the Oval site. Sage will be seeking term commercials tenants for a collection of buildings that will be designed and built to meet specific commercial requirements. The second phase of development will be an area designed for medium to high-density residential use. The final phase of development will be single-family dwellings located south of the Oval site. All phases of construction will be designed and built to the best green, environmentally friendly technology available that is both reliable and cost effective.
The Oval has been designed and engineered to be a future source of heat energy for any new construction that takes place near the Oval site. An independent utility provider, preferably local to the Peterborough and Lakefield area, will be using the excess energy created by the Oval combined with a geothermal district energy system to be built and operated by the utility provider. The system will supply neighbouring buildings with a competitively priced, 'green' source of heat with the intention for the entire Oval development area to become a model of best environmental design, build and operation practices. The development is also seen as a unique opportunity for the Kawartha Lakes region to design a new area that combines public recreational facilities, with the full range of residential units, a carefully designed area of retail and commercial spaces along with a well managed area of open, green space.
Sage in co-operation with Chandler Graham, Project Architects and members of the design team have already started the process of identifying development partners and tenants for this project. Chandler Graham is an established practice with over 20 years experience in the institutional, commercial and residential real estate industries with extensive knowledge of both new development and the adaptive re-use of historic and contemporary structures.
Sage believes the Ontario Speed Skating Oval and adjacent development area at Lakefield South will be a major economic driver for Lakefield, Peterborough and The Kawartha Lakes District.
About Village Inn:
The Village Inn of Lakefield is an upscale country inn located in the historic village of Lakefield Ontario, near the city of Peterborough and approximately one hour from Metropolitan Toronto. Please visit http://www.villageinn.ca for more information on this newly built country inn that combines old world charm with all modern conveniences today's guest has come to expect.
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