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Beacon Hall rumours of land sale?

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  • Originally posted by SLDR TP View Post

    I would have to disagree with reason #1, reason #2 I agree with, Reason #3 I disagree with seeing as though the offer is better than the previous offer voted on ($260M plus a VTB is better than $250M and no VTB). Reason #4 I agree with.
    Obviously each point is idle speculation on my part. If I was considering parting with $260 million to purchase a golf course and just realized that a bunch of activist nimby's in Oakville could lobby their MPP to effectively kill a completely legitimate development proposal then it would cause me to reconsider my investment options. Maybe I am just too conservative.

    Regarding point 3, I haven't seen the deal proposed by Harlo so have no basis to opine on whether it was superior to the previous offer - I was only speculating that it might not be much better (or not better "enough" to justify a new vote).

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    • Originally posted by bcampb00 View Post

      Obviously each point is idle speculation on my part. If I was considering parting with $260 million to purchase a golf course and just realized that a bunch of activist nimby's in Oakville could lobby their MPP to effectively kill a completely legitimate development proposal then it would cause me to reconsider my investment options. Maybe I am just too conservative.
      How is it "conservative" to lose one of Canada's most famous golf courses for more un-needed, unsustainable, overpriced and overly car-centric suburban blight?

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      • Originally posted by midlifecrisis View Post

        How is it "conservative" to lose one of Canada's most famous golf courses for more un-needed, unsustainable, overpriced and overly car-centric suburban blight?
        The conservative part would be being cautious about committing a quarter billion of capital that could be rendered valueless by capricious political action.

        Last I checked, a housing shortage in the GTA has led to sky high prices for residential real estate. The GTA has to produce more housing of all kinds - probably even more “car-centric suburban blight“.

        Also, last time I checked, Canada is a country that respects property rights and the legal owner is permitted to do with his property whatever he (or she) wishes - subject to provincial and municipal restrictions that exist at the time. “Famous” golf course or not.

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        • Originally posted by bcampb00 View Post

          Obviously each point is idle speculation on my part. If I was considering parting with $260 million to purchase a golf course and just realized that a bunch of activist nimby's in Oakville could lobby their MPP to effectively kill a completely legitimate development proposal then it would cause me to reconsider my investment options. Maybe I am just too conservative.
          I have to agree with this. However much one would like to keep the golf course intact, the developer in this case followed the municipal planning process requirements to a "T".

          For the Province to step in and abrogate this, in a manner not dissimilar to the Minister's Zoning Orders they have been issuing to allow for development in otherwise prohibited areas, undermines the legitimacy of existing legally constituted municipal planning processes.

          On the one hand, the rights of communities and citizens to participate in the planning process is taken out from them, and on the other hand investor confidence in the process is shaken.

          The Province has introduced a wild west approach to development - forget the rules - just get your foot in the front door at Queen's Park.

          Doug ford has not moved beyond the small minded approach to municipal land use planning that he exhibited as councilor in Toronto.
          Last edited by Fore Warned; Jul 14, 2021, 05:55 AM.

          Fortunately there are no rules limiting the number of golf balls you can carry during a match!

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          • Harlo has submitted a non binding LOI to the homeowners, $15M in total compensation. The letter also states that they are in advanced discussions with the golf course.........things are heating up.

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            • That sounds low. I think there are 20 units, so $750K each? Is that just compensation and they get to keep their units?

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              • Originally posted by allbrosca View Post
                That sounds low. I think there are 20 units, so $750K each? Is that just compensation and they get to keep their units?
                80 units in the community, it's compensation to allow Harlo to develop areas that currently have an easement, albeit a very week easement that the home owners will eventually have no recourse to.

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                • So just under $200K each. And does this approval also have to be 66 2/3% of the unitholders to pass? 54 Units?

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                  • Originally posted by allbrosca View Post
                    So just under $200K each. And does this approval also have to be 66 2/3% of the unitholders to pass? 54 Units?
                    not sure what is needed for a vote by the home owners...

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                    • Originally posted by SLDR TP View Post

                      80 units in the community, it's compensation to allow Harlo to develop areas that currently have an easement, albeit a very week easement that the home owners will eventually have no recourse to.
                      What exactly are they getting (i.e. losing) for that amount of money.

                      What's in this "easement" right now, and would losing it affect the golf course?
                      "Confusion" will be my epitaph
                      ...Iggy

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                      • has anyone heard of any update on the sale process? I hear a group of home owners met with Harlo, also heard there are a number of homeowners now willing to negotiate to avoid the chance of getting nothing and have to deal with the pending construction mess. Sounds like a break in the ranks of the home owners.

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