The Guelph Innovation District lands have been temporarily taken off the open market.
The large “For Sale” sign has come down on the property, most of which runs along the east side of Victoria Road between Stone Road and York Road. But finding a buyer remains a “priority,” says the province.
“We’re anticipating renewed efforts this year,” Jeff Giffen, a spokesperson with Infrastructure Ontario, said in reference to the property going back on the market. “We don’t have more specific timelines established at this point. We’re currently working through disposition strategies and will determine the most effective marketing approach moving forward.”
City plans for the provincially-owned lands include a mix of employment, residential, commercial and natural heritage uses. They encompass 328.6 acres of land bordered by Stone Road East, Victoria Road South and York Road. That total includes 100 acres of protected natural areas.
The GID lands were taken off the market last summer, after a potential sale agreement fell through, Giffen said.
“A decision was made at that time to review and consider next steps. It takes time to do that,” he explained. “Selling it remains a priority of the government.”
De-listing a property following a failed sale in order to conduct a review is fairly “standard."
“This isn’t the same as selling a residential property. It’s a competitive process that is initiated," said Giffen. "It’s a matter of going back and having a look and deciding the best way to move forward.”
No decisions have been made at this time.
Because multiple ministries are involved, Giffen said he’s unsure if the review is in any way connected to a recent provincial request for the city to launch a potential heritage preservation review of the former Guelph reformatory lands, which make up part of the GID.
That designation process is currently underway, with Heritage Guelph set to approve recommendations to council next month regarding which structures and features should be preserved due to their historical significance.
Council is expected to consider its options in June.
