A deal between the town and a Bronte developer that will see a 10-storey mixed use building rise at the corner of Lakeshore Road and East Street has received approval from the Ontario Land Tribunal (OLT).
The settlement will also require the developer to pay $790,000 to the town to be spent on local improvements, such as parkland, streetscapes or public art, within the Bronte area.
Podium Developments had originally applied to build a 15-storey tower and appealed to the OLT when the town failed to meet the deadline for a decision on the application.
Negotiations resulted in a settlement that was authorized by town council on May 2, after members of the public weighed in on several development options.
https://oakvillenews.org/news/town-and-developer-take-settlement-negotiation-public/
"This settlement moves us closer to the town’s vision for Bronte area as a vibrant and thriving neighbourhood," said Ward 1 councillor Beth Robertson.
"Residents have been waiting for some time to see the decision from the OLT. This is great news for our community and want to thank the many active voices from the neighbourhood that helped inform our approach."
The payment from the developer will be adjusted for inflation and submitted to the town once an above-grade building permit is issued. Town council will decide how to use the funding within the Bronte area, as part of a future budget process.
More information is available in the town’s staff report – item #7.3 in the May 2 Planning and Development Council agenda.