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THE ROSE CORPORATION ACQUIRES LARGEST LAND PARCEL IN MIDTOWN OAKVILLE​

The Rose Corporation Logo (CNW Group/The Rose Corporation)

Jul 24, 2024, 14:15 ET

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The 27-acre, Former General Electric Site, Purchased by Rose for $45 million

TORONTO, July 24, 2024 /CNW/ - The Rose Corporation, today announced the purchase of the 27.3 acre former General Electric manufacturing and office facility property located at 420- 460 South Service Road in Oakville, for $45 million. The site is just east of Trafalgar Road and south of the QEW (Highway 403) and is the largest single parcel of land in Midtown Oakville.

Acquired lands looking southwest towards downtown Oakville and Lake Ontario. (CNW Group/The Rose Corporation)

Acquired lands looking southwest towards downtown Oakville and Lake Ontario. (CNW Group/The Rose Corporation)

Well positioned in the heart of Midtown Oakville's 254-acre secondary plan earmarked for urban expansion and intensification, the property sits within 400 metres of the Oakville GO terminal expansion area, two kilometers from Downtown Oakville and is in walking distance to the Oakville Place Mall.

"We couldn't be more excited to acquire this prime parcel of land," says The Rose Corporation's President, Daniel Berholz. "The property, and its central location within the Midtown Oakville neighbourhood, offers Rose an unparalleled opportunity to play an important role in the Town's vision to create a vibrant and diverse community where people will be able to ultimately live, work and play."

"Our team is looking forward to engaging with key stakeholders to identify and implement the best uses for this site," adds Berholz.

For over a quarter of a century, The Rose Corporation has built a successful record acquiring large urban brown and grey field sites across Ontario (including the Revival/Toronto Film Studios, Pinewood Studios and The Planet in downtown Toronto and the Tannery District redevelopment in Kitchener, Ontario) reimagining and revitalizing them, creating value for the sites themselves and the communities in which they are located.

About The Rose Corporation

The Rose Corporation is a real estate development and asset management organization with a four-decade long track record of successful real estate investment. Since 2014, The Rose Corporation has focused on the development and construction of purpose-built rental apartments and low-rise single-family subdivisions in the Greater Golden Horseshoe. With this acquisition, The Rose Corporation has recently completed or has under active development, over 10,000 new homes and lots with completion values exceeding $6 billion. The Rose Corporation is passionate about community building for our valued customers while generating strong returns for our partners.
 
- When I drove passed by on the QEW I saw with Access Storage signs up with possible new self-storage building
- Here is the Site Plan from Town of Oakville with plans for to add shipping containers for General and public storage. There will be snow storage facility with large vehicle & trailer parking for snow plows for temporary use.
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A development application was recently submitted for a big development at 420 South Service Road East in the Midtown Oakville area. The current plan has 16 towers, ranging from 30-48 storeys in height, designed by Graziani + Corazza Architects. It has 4 blocks in total, one of which is planned to be a park. The development will feature 6964 units and 5849 square meters of non-residential frontage (most likely retail). Development application can be found here.

Site plan:
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Renders:
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canarob said:
More highway-oriented development on the service roads. Hopefully some sort of transit is planned here.
Click to expand...
It's actually not too far from Oakville GO (10-20 min walk), and the Trafalgar BRT is planned to be routed through this development once the overpass is built over the QEW. So it's in a pretty well connected place.
 
Shot from late September. They have since cleared the overgrowth on the left side. I found bits of it under my motorhome which I store on an adjacent property visible on far left.
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KAR246 said:
10-20 min walk
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That's not close for most people, especially through a very pedestrian unfriendly built form.

It appears South Service Road doesn't even have sidewalks along part of its length; then very narrows ones along a high speed four lane stretch as it approaches Trafalgar; then you're crossing a seven lane arterial; then narrow sidewalks again along a four lane road.

And forget trying to walk to any of the retail/services in the area.

The application proposes a residential parking ratio of 0.5 which is better than I expected for this area. But there's still a boat load of pedestrian, cycling and transit infrastructure required before a site like this can become somewhat urban.

Hopefully there's a grocery store on site. @Northern Light would ~7,000 units be enough to support something on site? Perhaps an urban format 12-15,000 sq.ft. location?

When is the BRT planned to be built?
 
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Undead said:
That's not close for most people, especially through a very pedestrian unfriendly built form.

It appears South Service Road doesn't even have sidewalks along part of its length; then very narrows ones along a high speed four lane stretch as it approaches Trafalgar; then you're crossing a seven lane arterial; then narrow sidewalks again along a four lane road.

And forget trying to walk to any of the retail/services in the area.

The application proposes a residential parking ratio of 0.5 which is better than I expected for this area. But there's still a boat load of pedestrian, cycling and transit infrastructure required before a site like this can become somewhat urban.

Hopefully there's a grocery store on site. @Northern Light would ~7,000 units be enough to support something on site? Perhaps an urban format 12-15,000 sq.ft. location?

When is the BRT planned to be built?
Click to expand...
All of the infrastructure in midtown is planned to be massively improved as part of the Oakville Midtown plan. The whole area will be developed with new/improved roads and pedestrian/cyclist infrastructure. So what the area currently has is not nearly what it will have once this development is built.

I'm not too sure about when the BRT is planned to be built, but the overpass over the QEW will probably start construction late 2020s, before this development, and once it's complete the current Trafalgar buses will be rerouted through that overpass instead of using Trafalgar to cross the QEW.
 
This looks like a miserable place to live, majority of units would get direct sunlight for less than an hour a day; if they removed Tower D and Tower K it would be much improved. If you live in Toronto's Entertainment District with very little sunlight, at least you have the amenities of the vibrant city outside, but this would just have highway noise/pollution and very little street life.
 
^^^ Its G+C tough to imagine something top tier coming out of that........

In term of the streetscape plan........there isn't any. That's terrible. Cycle tracks good, but a plain sidewalk with no landscaping/streetscaping to buffer it from traffic is not going to get many people walking.

@Undead is spot on in discussing the challenge to get anyone walking a distance of 5 minutes here, let alone 15-20. That calls for an above-average effort, not one that is ...well...........miserable.

Undead said:
Hopefully there's a grocery store on site. @Northern Light would ~7,000 units be enough to support something on site? Perhaps an urban format 12-15,000 sq.ft. location?
Click to expand...

Depends on residents per unit.......but in general you need 10,000 residents as a catchment to support a 15,000ft2 supermarket.

You can do it with less, but you have to have a very high capture rate, and draw some customers from further away.

Trade-areas in the GTA are typically larger, 25,000-60,000, but usually served by 2 or 3 supermarkets.
 
For those wondering about a grocery store there's a Longo's right behind the site. You can actually see it in the photo I posted up thread.
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