Early last month, Peterborough County posted another Completed Application of Subdivision plan for Millbrook.
The new site is located to the south east of the intersection of Fallis Line and County Rd. 10, with a 300 m frontage along the County Road and a 580 m frontage along a future eastern extension of Fallis Line. The municipal address of the site is 963 County Rd. 10 and it consists of 29.4 hectares (72.6 acres) in total.
The mixed-use commercial/residential proposal outlined in the Planning Rationale Report prepared by the Biglieri Group outlines a phased-in plan, which begins with 70 single detached units and two townhouse blocks of five units each, along with areas for stormwater management, natural heritage and municipal road allowances. In addition, there is a commercial block of 3.1 hectares (7.67 acres) along the northwest property boundary facing County Rd. 10 designed to accommodate a grocery store, a gas bar, offices, restaurants and other retail outlets, including a financial institution.
The Financial Impact Study prepared by Watson and Associates which supports the application provides further insight into the project, and indicates that ultimately the intention is to create as many as 76 new single detached homes, 58 townhomes and 70 apartment units. Their forecast suggests the completed development will increase the local population by almost 600 residents and create approximately 114 new jobs.
The site is currently vacant land which falls for the most part within the Millbrook Settlement area. It is designated Community Commercial, Residential, Agricultural and Natural Linkage/core and Institutional Special Policy area under Cavan Monaghan’s Official Plan. The Biglieri report suggests that a minor Millbrook Settlement Area boundary adjustment will be required to ensure the development is consistent with prescribed provincial planning legislation. Development activities in the first phase are concentrated along the western boundary of the site. The report explains that the plan is a “logical progression of infrastructure/services that allows for commercial development …”
The planning justification report infers that these new residential units will be affordable, suggesting that the development will provide an opportunity for first-time home buyers from the GTA as well as local buyers seeking to enter the housing market. Watson and Associate’s Financial Impact study, another report supporting the proposal, includes an overall increase in residential assessment value of almost $70 million, based on selling prices ranging from $600K to $700K for the single detached units and $400K for the townhouses.
Given the volume of development in the township, the move to apply for a phased-in development project is well-advised, as it may result in a more digestible project for the area. No matter how many development proposals are filed, there is only so much capacity for growth in the area without significant infrastructure expenditures- particularly for water services- that will likely render some development proposals unviable.
Developers typically have long investment horizons, so they are prepared to wait to develop their land holdings. Their timing depends on market conditions, environmental regulations as well as municipal appetites for growth. Think of these applications as developers throwing projects against the wall to see what sticks. Perhaps in Cavan-Monaghan, none of them will, for the moment.
For more information about the application, visit the County website www.ptbocounty.ca and search in the planning notices for the Plan of Subdivision 15T-21005. KG