On Monday, June 12, 2017 the Planning Development Council received the Glen Abbey Land Use Economic Impact Study from the Town of Oakville's Economic Development Department. The study provided a detailed summary of how Oakville would be economically effected by should Glen Abbey cease operations as a golf club and be converted to a housing/office development.
The first section of the Glen Abbey Land Use Economic Impact Study provided information if:
- The golf course remained as is,
- The golf course remained as is with the Canadian Open, and
- The golf course remained as is with the Canadian Open and a 150 unit hotel (as it is currently zoned)
Should the golf course remain as it is, it would generate 65 jobs and $6.5 million per year; if the Canadian Open is added to this, the number of jobs increases to 280 with it generating $36.5 million annually; and finally should a hotel be added, jobs would increase by an additional 70 and total revenue would increase by $7.9 million per year. Tax revenue for the town remains the same for the first two options at $71,000, but increases to $300,000 per year when a hotel is added.
The second section of the Glen Abbey Land Use Economic Impact Study provides information should the golf course cease operations and the property be converted to 3,222 residential units plus 121,309 square feet of retail and office space. The study was broken down into two parts:
- Initial Impact
- Long Term Impact
The initial impact would see a total output of $1.032 billion to $1.193 billion and would create 5,870 to 6,775 jobs. It would be expected to take 15 years before the property was fully developed. Once the property would be developed total output would drop to $3.1 million with 275 jobs.
The Glen Abbey Land Use Economic Impact Study was prepared by PriceWaterhouseCooper Real Estate Inc. with no public consultations. The full staff report can be found at Oakville.ca.