The 27-acre, Former General Electric Site, Purchased by Rose
for $45 million
TORONTO, July 24, 2024 /CNW/ - The Rose Corporation, today
announced the purchase of the 27.3 acre former General Electric
manufacturing and office facility property located at 420- 460
South Service Road in Oakville,
for $45 million. The site is just
east of Trafalgar Road and south of the QEW (Highway 403) and is
the largest single parcel of land in Midtown Oakville.
Well positioned in the heart of Midtown Oakville's 254-acre
secondary plan earmarked for urban expansion and intensification,
the property sits within 400 metres of the Oakville GO terminal
expansion area, two kilometers from Downtown Oakville and is in walking distance
to the Oakville Place Mall.
"We couldn't be more excited to acquire this prime parcel of
land," says The Rose Corporation's President, Daniel Berholz.
"The property, and its central location within the Midtown Oakville
neighbourhood, offers Rose an unparalleled opportunity to play an
important role in the Town's vision to create a vibrant and diverse
community where people will be able to ultimately live, work and
play."
"Our team is looking forward to engaging with key stakeholders
to identify and implement the best uses for this site," adds
Berholz.
For over a quarter of a century, The Rose Corporation has built
a successful record acquiring large urban brown and grey field
sites across Ontario (including
the Revival/Toronto Film Studios, Pinewood Studios and The Planet
in downtown Toronto and the
Tannery District redevelopment in Kitchener, Ontario) reimagining and
revitalizing them, creating value for the sites themselves and the
communities in which they are located.
About The Rose Corporation
The Rose Corporation is a real estate development and asset
management organization with a four-decade long track record of
successful real estate investment. Since 2014, The Rose Corporation
has focused on the development and construction of purpose-built
rental apartments and low-rise single-family subdivisions in the
Greater Golden Horseshoe. With this acquisition, The Rose
Corporation has recently completed or has under active development,
over 10,000 new homes and lots with completion values exceeding
$6 billion. The Rose Corporation is
passionate about community building for our valued customers while
generating strong returns for our partners.
Danny Roth
Brandon Communications
M. 416 414 9064
O. 416 850 0614
SOURCE The Rose Corporation