1,100 acres zoned for residential, mixed use development
January 7, 2016 by On-Site Magazine
Ontario is moving forward with its plan to build key infrastructure across the province by proceeding with the sale of the Seaton Lands.
The Seaton Lands, which have been provincially owned since the 1970s, are being sold on the open market to support a new urban development in the City of Pickering, just east of Toronto.
The provincial sale includes approximately 800 acres of employment lands and 269 acres of residential and mixed use lands. The lands will be marketed as of January 7 to prospective buyers.
The net proceeds generated from the sale will be dedicated to the Trillium Trust, which helps fund transit, transportation and other key infrastructure projects across the province, according to a government release.
This is part of the government’s plan to support asset optimization targets of $5.7 billion to build new transit and other priority infrastructure across the province.
Upon completion, Seaton will be a mixed use, sustainable community, which will be home to 70,000 people and support 35,000 jobs.