First major Northwest Trunk build moves ahead
Council voted to allow the development to commence immediately during their regular Council meeting on Tuesday.
“The construction of these 80 residential units is the first major development to be connected to the City’s Northwest Trunk that was completed last year,” explained Mayor Andy Letham. “This build is a sizeable investment in our community and demonstrates the ongoing confidence of the development community in Kawartha Lakes.”
The completion of the Northwest Trunk will accommodate 6,191 residential homes and nearly 1.5 million square feet of retail and commercial space.
“When compared to our municipal neighbours to the south, east and west, Kawartha Lakes provides an unmatched quality of life and lower cost of living,” said Director of Development Services Chris Marshall. “Comparable residential properties in adjacent communities to us cost significantly more and we’re seeing a greater influx of interest and residents into our community as a result.”
Last year, home sales were up 20 percent over 2014 levels contributing to the best annual residential sales figures in the Kawartha Lakes Real Estate Association’s history.
In 2015, more than 950 new building permits with a construction value of nearly $110 million were issued by the City’s building department.
“More and more people are starting to recognize Kawartha Lakes as a great place to live, work, raise a family or retire to,” said Mayor Letham. “As costs continue to escalate across the sprawling GTA, Kawartha Lakes offers a lifestyle and affordability within easy commuting distance, and we are poised for growth as a result.”
For more information please contact:
705-324-9411 Ext. 1355