The Town of Oakville and Goldmanco Incorporated presented a settlement regarding the redevelopment of the current Bronte Village Mall property to the Ontario Municipal Board (OMB) last Friday.
The OMB decision allows development to move forward under the settlement framework.
There will be a phased-in approach to the redevelopment of the site with some short and long term goals. Early revitalization will be seen through redevelopment and streetscape improvements; long term goals will ensure development and revitalization of the site is done in accordance with the Livable Oakville Plan. The settlement also protects the opportunity for a food store to remain on the site.
Other highlights of the settlement include:
- A publically-owned market square along Lakeshore Road creating a focal point for activities
- A publically-owned parkette along Sovereign Street
- Connections through the site, east/west with an internal driveway and also on the north side connecting the market square and the parkette by way of a publicly owned corridor
- Terracing and courtyards along Sovereign Street respecting the homes on the north side
- Implementation of the policies and objectives of the Livable Oakville Plan
The OMB approved a 14-storey building along Bronte Road and a 10-storey building in the interior of the site. Both buildings will be terraced towards Sovereign Street. Ground floor retail will be permitted in each of the buildings to allow opportunities for new commercial uses fronting onto Bronte Road and the internal pathways. Additional commercial uses will be required to front Lakeshore Road and the town-owned market square.
Development will happen in phases and potentially over the next 20 years due to current long term leases. The west side of the property is expected to develop first with mixed uses while the existing leases are still in effect. The settlement also requires early improvements to the Lakeshore Road and Jones Street frontages.
In the longer term, commercial uses on the east side of the property will be relocated to Lakeshore Road adjacent to the urban square. Townhouses would replace the existing commercial buildings on Sovereign Street.