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Plans unveiled for life sciences park next to new hospital by Michael Gregory Oakville Beaver Staff 5 | Friday, October 17, 2014 | OAKVILLE BEAVER | www.insideHALTON.com A local developer is proposing to build a `green' $1.5-billion life sciences business park next to the new Oakville hospital that could result in thousands of new jobs. The announcement by Joseph Dableh was made Wednesday afternoon at mayoral incumbent Rob Burton's campaign headquarters alongside Ward 4 incumbent candidates Roger Lapworth and Allan Elgar. "We really want it to be a creative centre that is the bedrock of innovation," said Dableh, who has lived in Oakville 15 years. "A dynamic community where you can work, play, shop and live." If approved, the 4.5-million-sq.-ft development that's being called a "sciences campus" will include a medical centre, research incubator, hotel, conference facility, office buildings, and three residential towers, as well as other general amenities, such as a shopping district. Dableh is the founder of Fifth Light Technology Ltd., which was acquired by Cooper Electric in 2012. Dableh spent 10 years with Ontario Hydro's research division, while moving on to work at McMaster University and for the federal government. Now, as president of Oakville Green Development Inc., he has partnered with his two sons and investor Fausto Palombo to develop the business park. "(The Town) had the vision of creating a health sciences park, we said that's wonderful, because health sciences is two-fold -- it's research and technology," Dableh said. The research incubator will allow inventors and entrepreneurs alike to create and experiment with new ideas. "It's a place where young and old people, who have an idea would have a platform to accommodate them in trying their idea," Dableh said. "My objective there is to tear down the barrier between an abstract idea and commercial reality." Currently, similar research centres exist at McMaster and Western University, but Dableh's would be entirely privately funded. He said once complete, the "pedestrianfriendly" business park could employ upwards of Oakville's Joseph Dableh, co-founder of locally-based Fifth Light Technology Ltd., joined incumbent mayoral candidate Rob Burton and Ward 4 incumbents Allan Elgar and Roger Lapworth in unveiling a $1.5-billion health sciences campus plan for property Dableh owns next door to the new Oakville hospital. | photo by Riziero Vertolli ­ Oakville Beaver (Follow on Twitter @halton_photog or facebook.com/ HaltonPhotog) 12,500 people -- not including spinoff jobs. "My passion is research, and I feel so fortunate to be able to sponsor a research incubator along with a health sciences campus to become a magnet for biosciences businesses for Oakville," he said. The plan is to develop the 30-acre plot of land, which does not account for a stormwater management pond, in three phases. Dableh said $500-million in investments has already been secured to kickstart the first phase. Artist renderings presented on Wednesday show several of the buildings to have green roofs, and the investors hope to harness geothermal and solar energy. Dableh and his partners secured the land two years ago and the plans went into "high gear" after the sale was closed this past January. The Town's Commissioner of Community Development Jane Clohecy confirmed "preliminary discussions" had taken place with Dableh about the campus. "Many of the concepts he has expressed appear to fit with the earlier discussion with industry representatives, and the life sciences objectives of the Town's economic development strategy," she said. Dableh plans to submit a master plan of the subdivision to Town staff in the near future. It will then be assessed based on the Town's Official Plan and forwarded to Town council. The land is currently zoned for employment lands, requiring only that amendments be made to accommodate the residential towers. Clohecy said the Town's 2009 Economic Development Strategy identified the life sciences as a key sector to attracting development, especially given the potential employment lands surrounding the hospital. "Since then, economic development staff has been working with the life sciences industry to identify what would be needed in order to establish a life sciences park around the hospital," she said. According to Dableh, initial interest has already been expressed by key not-for-profit health organizations wanting to set up offices on the campus. Local Ward 4 candidate Roger Lapworth said the announcement goes to show "Oakville's economy is on a roll." "Our award-winning economic development strategy not only helps us generate 1,000 new jobs a year for Oakville, it inspires investments such as this one by (Joseph) Dableh." Burton said development supports the Town's vision going forward. "This is, in a way, a very exciting day because it shows the potential of the Livable Oakville plans and what kind of a future it can create," Burton said. Voted Number 1 Financial Planner 11 Years A STEP BEYOND IN CARE Do you have: Salima Kassam Reg. Chiropodist Peter Watson MBA, CFP, R.F.P., CIM, FCSI Certified Financial Planner Since 1991 DIAMOND · Foot/Arch Pain? · Ingrown Toenails? · Diabetes? · Swollen Ankles? · Corns, Calluses? Call for an appointment 905-632-1414 728 Burloak Drive www.footandhealthclinic.com 220 Randall Street · Downtown Oakville Phone: 905.842.2100 www.peterwatsoninvestments.com