Oakville Homes

January 28, 2011

Edgemere – the public will enjoy the lake and the view of the Condos

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Edgemere.

Kind of place we dream of living in.  Kind of place we see in those British TV shows.

I haven’t really heard much about it lately.  As you know, it is the piece of land alongside Lake Ontario in Oakville that Peter Gilgan of Mattamy Homes owned and sold for $35million.  Interesting that it was originally listed at $45million.  I know the market dropped but that is one hell of a drop in price.  I just wonder if there was some side deal that happened.  Who knows?

A trend now in Oakville, the buying of big lots and redeveloping them.  A friend told me that he was offered $1.3million for his 1300+ sq. foot home and the buyer didn’t even want to see the inside. 

Sight unseen. 

Of course, we know they just wanted the lot and would demolish the house and put up a monster home.  This is a trend in east Oakville.  Only way to really get a lot that you can build a large house on as all the new development is small lots. 

In the case of Edgemere, the 15 year old, 32,000 sq.ft. home with 17 bathrooms situated on 5.7 hectares, will be demolished to make way for 2700-5500 sq. ft condos ranging from $2.7 to 6.9million. 

Imagine trashing a 15-year-old house. 

I wonder if it suffered from “Ice Dams” and needed a new roof.  Only Gilgan will know.

Anyways, I am sure you would all like to see how this will come together.  I have attached the site plan, as given to the Town of Oakville and I am sure is susceptible to change.  The developer originally argued about the shoreline but it will be a public walkway.  I understand some concessions were given regarding the site plan to appease him.  But, the main thing is that the shoreline will be protected and available to all those who wish to enjoy the shoreline of Lake Ontario. 

Just make sure your dog doesn’t do its duty on the lawn beside this walkway.  Those are expensive lawns.

(Click on it to enlarge)

Edgemere Site Plan

 

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