It has been a bumpy road when it comes to that prime waterfront property in Port Dalhousie that was set to be a condo development…
The Fortress’ Union Waterfront property located at 16 Lock Street and 12 Lakeport Road in the heart of the commercial district has now been listed by Colliers International as a receivership sale being described as follows: Harbour front redevelopment opportunity in Historic Port Dalhousie, famous for its seaside feel. The 1.11 acre site is surrounded by 2 marinas, Lakeside and Renee Parks, a public beach and the Royal Canadian Henley Regatta. This offering presents a mixed use, commercial residential opportunity anchored by a revitalized commercial core. Properties of this nature are rarely available close to waterfront. No listing price is given.
Fortress Real Developments originally had plans to build a 14-storey terraced condominium building with 220 apartment units called Union Waterfront on the approximately 1.1 acre site.
If a sale goes through, it would be up to the new owner to determine what they want to propose for the site, however they will still have to meet with city planning staff to ensure the new plan is acceptable.
The property has been the subject of controversy since real estate investors announced 15 years ago that they had properties around Lock Street and Hogan’s Alley and were looking at developing a medium to high-density mixed use building.
Since then, different owners have put forward development proposals since the initial demolition of the buildings which included the Port Mansion.
As for the new potential owners, they could pursue the Fortress application originally proposed, modify the plan or change it all together.
Bottom Line: An uncertain future continues for the historic Port Dalhousie site. For more information visit: www.collierscanada.com
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