Stonebridge Golf Course (status)

[xdarrylx]

Hi All,

I remember reading about when Mattamy wanted to tear up some of the golf course and add in some more homes and folks were irate given some of the lot premiums they paid. Now that they've done it and are in the midst of prepping the land, what was the outcome? Did the builder compensate anyone with a "golf course lot"? Or is it too bad, so sad?

[xdarrylx]

Lots of views but no replies...maybe the wound is still fresh?

[BrianT]

Could they have signed non-disclosure agreements?

[ottawaguy58]

Ever heard of Google?

[xdarrylx]

Originally Posted by BrianT

Could they have signed non-disclosure agreements?

Never thought it'd go that far but suppose it's possible

[xdarrylx]

Originally Posted by ottawaguy58

Ever heard of Google?

Welcome bridge troll, and thank you for your input.

[gerapau]

Anyone who paid for a golf course lot will still have a golf course lot so I doubt anyone will be compensated. The only part of the current construction that will end up with new homes on it is the part just south of Longfields and west of Prince of Wales. The rest of the construction throughout Stonebridge is just to reconfigure some of the golf course to lengthen some of the holes.

[gerapau]

By the way, for anyone who is interested, last year Mattamy and the Stonebridge community came to an agreement that will see the golf course remain either a golf course or green space indefinitely and that the homes going up across Longfields from the Orchard development will be the last homes built on any current part of the course. I would assume by the amount of work that Mattamy is currently putting in to the golf course that it will remain a golf course well into the future.

[HMBTUX]

There was a 10 yr property tax "levy" voted in. The end result will be that about $3 or 4 million will be raised which is what the valuation of the course was off the top of my head, (not 100% sure on the valuation, but somewhere around that amount). The valuation IMHO was quite low since the clubhouse alone has to be worth a couple million, and that was before the real estate prices exploded. Anyway at the end of the 10 years the community can either take over the course, or just have it remain as greenspace, that's what the levy is for. FWIW, it was very dramatic....lots of loud opposition. Although it's tied to property value, it still greatly benefits the more wealthy people who back onto the course, while the existence of the course has very little impact on those in townhouses etc on the edge of Stonebridge. in the end people probably just didn't want the traffic to get worst more than anything.

Re current development, it was separate, and will be the last of it. My understanding is that since the course was closed, they took this opportunity to do some major surgery, maintenance on the course as a whole, surprising investment, given that Mattamy will presumably walk away from the business in about 7-8 years. I could be wrong on those exact details.