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Argo to develop 'trophy' Oakville land with low-, mid-rise housing
A 26.4-acre property in Oakville, Ont. called a coveted “trophy asset” has been bought by Argo Development Corporation, where it plans to build low- and mid-rise housing.
renxhomes.ca
Argo to develop 'trophy' Oakville land with low-, mid-rise housing
A 26.4-acre property in Oakville, Ont. called a coveted “trophy asset” has been bought by Argo Development Corporation, where it plans to build low- and mid-rise housing.
Purchased for $33 million, 1303 Dundas St. W. is proposed to have 108 townhomes and 34 single-detached homes. A portion of the site is set for mid-rise housing in three acres of future development blocks, according to an urban design brief document. Further details such as the height and number of units are yet to be determined.
With only about 10 to 15 sites remaining for residential development in private hands in Oakville, it was a “really logical infill piece” for Argo, according to Nick Steele, a senior associate at CBRE, which advised the transaction.
The largest landowner by area in Oakville, Steele said Argo took an interest because it is adjacent to active projects by Treasure Hill Homes and Mattamy Homes, and is supported by existing retail and transportation. Argo is based in the neighbouring city of Burlington.
“High-quality, well-located infill sites” like 1303 Dundas St. W., “are always going to appeal to a wide audience of purchasers,” Steele said.
