Windermere Jakathama Update January 2014

"We understand there have been questions with respect to a for sale sign that was recently erected on the subject lands in Windermere North. 
 
The sign was erected without the approval or agreement of Windermere Lands Ltd., the owner of the property.  The realtor who erected the sign has been requested to remove the same.
 
Notwithstanding the lack of permission to erect the sign, the land is available for sale. 
 
Over the past several months, there have been discussions with the owner of the adjacent land which was previously proposed as the location for a new Jamatkhana.  During the discussion, concept plans were prepared for the joint development of the two properties. 
It continues to be our opinion that the joint development of the properties is the preferred solution as access is severely constrained.
The most southerly portion of the lands are zoned RF4 and are currently the subject of a subdivision application to create an additional 4 semi-detached units consistent and adjacent to the existing semi-detached homes, plus 1 single family lot adjacent to the existing single family homes that back on to the small ravine. 
The remaining portion of the lands owned by Windermere Lands are currently zoned RA7 (apartments).
We have been encouraging the development of the lands at a density lower than RA7 and the concept plan that was developed in conjunction with the adjacent land owner contemplated a townhouse type development. 
We are hopeful that the subdivision to create the 5 lots referenced above will be approved in the next while, allowing the creation of the 5 lots during 2014.
Subsequent to the creation of the 5 lots, we will be seeking to sell the remaining land and it will be the responsibility of the purchaser to determine the ultimate building form. 
While we will continue to encourage a building form at a density lower than the currently approved RA7 zoning, we need to acknowledge that RA7 is the permitted land use at the present time. 
While we also think it is beneficial for the purchaser of either the lands owned by Windermere Lands or the adjacent lands to the north to deal with both properties concurrently, the possibility of separate purchasers cannot be precluded.
The subject lands have been, and will continue to be, a challenge with respect to development, it is difficult to be more specific as to the ultimate form of development until such time as there is a builder that is willing to pursue the same. "

Jim Brown
Sherrick Management Limited