The property is .2 acres (69 by 150) located in the Municipality of Georgina. (map attached) It is zoned residential and has municipal wastewater and water connections. The proposed development will consist of a single four story, four suite apartment building with a basement suite. Units average 950 square feet, two bedrooms, 2 bathrooms.
The property is intended to be a Vacation Rental.
The project is located four houses away from Claredon Beach Park which has a sand beach and kids play area on Lake Simcoe. Parking for 10 cars on site. Summer activities include beach time, swimming, beach volleyball, water sports. Amenities include BBQ, Gazebo, Party Deck, Boogie Boards, tubes, snorkel gear. Winter activities include skating on the Lake, Snowmobiling and Ice Fishing. Amenities include Xcross Country Skis, sleighs, ice fishing equipment. Outdoor Storage Closets allow outdoor equipment to stay outside. Units are intended to be rented as short term, one week, three night minimum. Rentals will be arranged by Teska Marketing Inc. and the property managed by Teska Rentals Inc.
Units will be priced at:
Basement: $ 375,000
Unit One: $ 450,000
Unit Two: $ 450,000
Unit Three: $ 450,000
Unit Floor: $ 475,000
Total: $ 2,200,000
Deposits on Reservation Agreements 5% payable in three equal payments with post-dated cheques at signing date, 45 days from signing date and 90 days from signing date. Terms include 50% deposit return should the Investor wish to cancel and 100% deposit return should the project not receive approval.
The Company expects to achieve Site Plan Approval during 2022, with construction to start in early 2023; completion by June 2023.