Nappan Island project awaits $7 million buyer
Nappan Island project awaits $7 million buyer
Development approved by municipality, new bridge in place
Plans to develop a 67-home rural subdivision on 311 acres on Nappan Island may be closer to moving ahead after more than 15 years of discussion and many twists and turns.
But it will be up to a new owner to get the project built since the property is listed for sale at $7 million.
In 2008 a developer ran into opposition to his proposal to add mores homes on the island and was told more environmental studies and planning was needed. And the aging single-lane bridge needed to be examined and perhaps replaced since it wouldn’t be able to handle the construction trucks.
In 2012 an Israeli investor purchased the property through a numbered company based in Markham and started talking seriously to the municipality. In August 2018 his company received draft approval for a plan with 67 single-family homes and was given until Dec. 31, 2020 to meet all conditions.
Like everything else, the project was delayed by COVID, so in 2020 council extended that date until Dec. 31, 2023 after receiving a report from Jim Peters, Director of Planning and Development, who said there were “additional elements of the subdivision still under discussion” and “the developer has experienced delays in fieldwork … due to COVID-19,” said a report by John Campbell on Trent Hills Now.
Peters said in an interview this week that all the conditions have been met and a new owner could move ahead quickly. “We actually have a drafted subdivision agreement which their lawyer reviewed. We sent it back to their lawyer and I actually sent them a letter and I said, you know, you should get on with this.”
Real estate broker Tyler Da Costa said the owner has no experience as a developer and is ready to sell to a company that can complete the project now that he has all the approvals.
“He went through all the planning, all the zoning changes for the property and now is the time for him to sell,” Da Costa said in an interview. “He doesn't have any use for the property. He did the high-risk work.”
The property has been listed since March 1 and Da Costa said he has had interest from a few developers but expects it will take time to find the right buyer.
In 2020, the municipality concluded the 20-metre-long bridge needed to be replaced by one that is 61-metres long and wider since it includes of a walking lane. That too turned into a bit of an adventure.
The construction tender was awarded to National Structures 2011 of Napanee on December 1, 2020, and construction began on December 27, 2020. But the company ran into financial trouble before it completed all the work and was placed into receivership on December 16, 2021, on application filed by the Royal Bank of Canada, which was owed more than $700,000. The bank moved in when it discovered the company also owed the federal government more than $1 million in unpaid employee deductions and HST payments.
A report to council on March 26 said the total cost for the project as of December 31, 2023, was $1,725,981.39. Development charges for the properties will help pay for the bridge.
Stephen White, Chief Building Official, said the municipality had to step in and complete construction after National Structures went bankrupt. The work has now all been completed, and it came in under budget.
Peters noted that the new bridge was located west of the old one and the old abutments have been left, which will provide a good space for fishing.
