Kincardine is moving ahead with the purchase of about 20 acres of property from Bruce K Holdings, in the area known as the Gary Street lands, behind the Sutton Park Mall in the Town of Kincardine.
The acquisition was announced at the council meeting, Wednesday night (Oct. 14).
In a report to council, contained in the consent agenda, chief administrative officer Alan Smith states that this acquisition would secure a strategic development-land asset, giving the municipality greater control over future development, and the flexibility to respond quickly to investment opportunities.
Smith said as the next step, the municipality intends to submit applications for a local Official Plan amendment and zoning bylaw amendment, at the end of the month. The proposed amendments would establish an area-specific Official Plan policy and rezone the lands from Planned Development to Business Park, with site-specific provisions permitting institutional uses.
The applications would proceed through Bruce County's standard review process and be circulated to prescribed agencies for comment, said Smith. Members of the public may submit written comments to the assigned county planner or speak at the public meeting which is anticipated to be held before council in December.
In a press release, issued Friday, the municipality states that as it continues to experience interest from the nuclear sector and broader business community, ensuring that suitable land is available for future development is becoming increasingly important.
The municipality's recent business retention and expansion survey identified the availability of development land as one of the top challenges facing local businesses. The proposed acquisition would help address this barrier while positioning Kincardine to respond to emerging investment opportunities.
"Having land available for future development is an important part of building a strong and resilient local economy," said Smith. "This is about looking ahead, ensuring Kincardine is well-positioned to attract investment and create opportunities for future generations."
Municipal ownership of strategically-located development land would provide flexibility to support business expansion, attract new employers and guide development in a way that aligns with the community's long-term economic and planning objectives, states the press release.
The proposed acquisition also represents an opportunity for the municipality to take a more active role in shaping Kincardine's economic future, rather than waiting for development opportunities to emerge.
With continued activity in the nuclear sector and opportunities for growth across other industries, access to development-ready land will be an important factor in maintaining Kincardine's competitiveness as a place to invest and do business.
The proposed land acquisition is an investment in Kincardine's future, helping to create the conditions for sustainable economic growth, business development and employment opportunities for years to come.
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