Town holds out for more on Uptown Core property by David Lea Oakville Beaver Staff 11 | Thursday, March 21, 2013 | OAKVILLE BEAVER | www.insideHALTON.com It wasn't the worst offer, but the Town of Oakville thinks it can do better. Council has rejected a developer's bid to buy its former public works site on Trafalgar Road. The proposal was made by 2303484 Ontario Inc., to purchase the Town property at 2274-2320 Trafalgar Rd. The land was vacated about 15 years ago, and declared surplus to the Town's needs in 2000. The offer was rejected despite the fact previous Town attempts to sell the land were not successful. Ward 5 Town and Regional Councillor Jeff Knoll said he was eager to see the land sold as the site's development is important to the area now called Oakville's Uptown Core. "It has been an important part of trying to get the Uptown Core finished at some point in the future," said Knoll. "In order for the synergies of the Uptown Core to work, we require density, we require people to live there, work there, play there and this piece of property is a very important part of making this all come to pass." Knoll cautioned if council drags its heels, it could impact the overall Uptown Core project and warned that the longer the issue drags on, the more people will try to steer the Uptown Core away from what it is intended to be. "The Uptown Core is a community that is supposed to have small-scale retail, large-scale retail, a whole range of uses and we keep seeing incursions as to the desire of the proponents in that community to change what the original vision was of that community," said Knoll. "We are not going to get that critical mass of people unless we get some development going." Jeff Knoll Ward 5 Town Councillor Marc Grant said businesses are hesitant to establish roots in the area because they don't know how many people will eventually be there or when they will be there. While no sales prices were quoted during the meeting, Knoll acknowledged the developer was offering less than what the property was worth. The councillor noted mitigating factors such as a piece of the property serves as a pipeline corridor, two roads bisect the land and the property is beside a car dealership. Knoll pointed out Town staff had dubbed the developer's offer as viable. "To have a developer come along and say `We want to do what you want to do' and `We want to live with what the Official Plan and the Uptown Core Study says,' I think is worth its weight in gold," said Knoll. Mayor Rob Burton said accepting the offer did not make good business sense. "One of the things about this that discourages me is there is no plan or commitment to build now. The value will be there when the market arrives for the high density that we require there. In my view, selling it now would transfer to the buyer the opportunity to enjoy the appreciation of the value of the land when the market arrives," said Burton. "For that reason, as a business man, I see this as an asset we should hold onto for now because in our low interest rate environment, land actually appreciates faster than any investment we could make." Only the area councillors, Knoll and Grant, voted in favor of accepting the developer's offer. 40th Anniversary Avalon Waterways Cruise Contest Throughout the year, Insight operates a variety of special-interest tours based around particular themes or lifestyle interests like art, history, gardens, photography or wine. These tours include the same knowledgeable Insight Tour Directors, superb hotels, meticulous planning and many are accompanied by specialist experts in their field. 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