THE ROSE CORPORATION ACQUIRES LARGEST LAND PARCEL IN MIDTOWN OAKVILLE
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.
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.
Danny Roth
Brandon Communications
M. 416 414 9064
O. 416 850 0614
SOURCE The Rose Corporation
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