Big changes could be on the horizon for one of our region’s busiest beaches.
The Town of Wasaga Beach is moving to buy a large chunk of property along Beach Area One. The land makes up 72 per cent of Beach Area One, and includes seven properties and 28 businesses, including Dardanella, Bananas Night Club, and Copa Cabana.
In a meeting on Tuesday afternoon, councillors voted 5-2 to start negotiations on the purchase, for $13.8 million. Wasaga Beach Mayor Brian Smith says having control of that land can be a game changer for the town.
“The purchase of these properties is a bold move by council to consolidate and control land in the most popular tourist location in Ontario,” said Mayor Brian Smith in a statement.
If successful, the town will control allof the current leases and will be able to rent out the remaining commercial space.
The mayor sees it as an opportunity to start a new chapter.
“Although the decision to purchase the properties is not unanimous, the majority of council believe that owning the seven properties and 28 commercial units will create an environment to attract new business and an opportunity to enhance tourism,” Smith said.
In a statement the town says the purchase will be paid for with reserve funds and borrowing money in a bank loan.
The town plans to pay that loan back with future rental income from the properties.
“The town will establish reasonable lease rates for available commercial space and will work hard at attracting businesses suitable for a prime waterfront location that are attractive to visitors to our community and suitable for residents,” the statement reads.
The motion will be ratified at a town council meeting next week.
