Sadly for some of my activists friends, it seems as if it's full steam ahead for the Hanlon Creek Business Park. Here's a city press release on the next phase of construction from last Monday.
GUELPH, ON, June 7, 2010 – City Council has authorized staff to proceed with the preparation and possible execution of a cost sharing and land exchange agreement between the City of Guelph and Guelph Land Holdings Inc., (GLHI) a subsidiary of Cooper Construction Limited, with respect to Phase 2 of the Hanlon Creek Business Park.
The agreement will transfer ownership of most of the City’s lands in Phase 2 to GLHI and will set the terms for the purchase and servicing of Phase 2 lands of the park. The timing of such an agreement is ideal as it allows the City to divest of its investment in the Phase 2 lands and receive a return on investment while minimizing the City’s financial risks moving forward, as substantial investment is required for servicing of Phase 2.
Under the agreement, GLHI will become the primary developer of Phase 2 of the Hanlon Creek Business Park and be responsible for servicing and marketing the property. The City will retain approximately three acres of land, which will be developed as part of Phase 3 of the park.
Subject to the execution of the agreement GLHI intends to begin development of Phase 2 next month and is targeting completion in fall 2011.
“The City initiated the development of the Hanlon Creek Business Park as a catalyst to attract private-sector investment. We did so in response to the business community’s concern about a shortage of serviced employment lands in the city,” says Guelph’s General Manger of Economic Development & Tourism, Peter Cartwright. “Now that we have strong private sector proponents, the timing is right for the City step back from its role in the development of Phase 2.”
About the Hanlon Creek Business Park
The HCBP encompasses 671 acres in the south west corner of the city. The development comes after almost a decade of public consultation, scientific assessments and thorough environmental analysis. The site will attract knowledge-economy businesses in sectors such as food and agribusiness, environment and energy, advanced manufacturing, and information and communications technology, and will provide approximately 10,000 jobs in our community.
For more information about the Hanlon Creek Business Park visit guelph.ca/hcbp.
Agreement to consolidate land holdings in Phase 2 of Hanlon Creek Business Park would expedite development
GUELPH, ON, June 7, 2010 – City Council has authorized staff to proceed with the preparation and possible execution of a cost sharing and land exchange agreement between the City of Guelph and Guelph Land Holdings Inc., (GLHI) a subsidiary of Cooper Construction Limited, with respect to Phase 2 of the Hanlon Creek Business Park.
The agreement will transfer ownership of most of the City’s lands in Phase 2 to GLHI and will set the terms for the purchase and servicing of Phase 2 lands of the park. The timing of such an agreement is ideal as it allows the City to divest of its investment in the Phase 2 lands and receive a return on investment while minimizing the City’s financial risks moving forward, as substantial investment is required for servicing of Phase 2.
Under the agreement, GLHI will become the primary developer of Phase 2 of the Hanlon Creek Business Park and be responsible for servicing and marketing the property. The City will retain approximately three acres of land, which will be developed as part of Phase 3 of the park.
Subject to the execution of the agreement GLHI intends to begin development of Phase 2 next month and is targeting completion in fall 2011.
“The City initiated the development of the Hanlon Creek Business Park as a catalyst to attract private-sector investment. We did so in response to the business community’s concern about a shortage of serviced employment lands in the city,” says Guelph’s General Manger of Economic Development & Tourism, Peter Cartwright. “Now that we have strong private sector proponents, the timing is right for the City step back from its role in the development of Phase 2.”
About the Hanlon Creek Business Park
The HCBP encompasses 671 acres in the south west corner of the city. The development comes after almost a decade of public consultation, scientific assessments and thorough environmental analysis. The site will attract knowledge-economy businesses in sectors such as food and agribusiness, environment and energy, advanced manufacturing, and information and communications technology, and will provide approximately 10,000 jobs in our community.
For more information about the Hanlon Creek Business Park visit guelph.ca/hcbp.
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