Wasaga Beach parts ways with developer on multi-million-dollar redevelopment project
The Town of Wasaga Beach has yet another hiccup in its multi-million-dollar plan to redevelop its iconic beachfront as it announced Thursday it is parting ways with FRAM Building Group and will explore options for a new developer to take over the project.
During a council meeting on Thursday, the Town said negotiations with FRAM had ended after the Town said the two sides couldn't reach a financial agreement that aligned with its expectations.
- Download the CTV News app to get local alerts on your device
- Get the latest local updates sent to your email inbox
Key sticking points included disagreements over land value and project phasing with Beach Area 2.
The Town stressed that the two sides parted ways amicably and that the door would remain open to work with FRAM in the future.
The search for a developer for the beachfront project has hit its fair share of speed bumps over recent years.
In 2019, FRAM was chosen to develop the land but later announced it would not be part of the multi-million-dollar undertaking, effectively setting the project in limbo.
In 2022, the Town began negotiations with another developer, Bayloc Developments Inc., but, in the end, that partnership was terminated after the two sides couldn't reach an agreement on the project's timeline.
The following year, the Town brought FRAM back on board to spearhead the project.
Despite the latest setback, the mayor said the Town is confident they will have shovels in the ground by next spring.
A new Request for Proposal posted on the Town's website will remain open for 28 days. The Town hopes to have a new developer at the table before Christmas.
Meanwhile, Wasaga Beach is moving forward with Sunray Group, an award-winning hotelier whom the Town signed a Letter of Intent with on Thursday to bring a premium hotel, with floor retail and commercial uses to the beachfront.
CTVNews.ca Top Stories
Former finance minister Bill Morneau questions if it's the 'right time' for emissions cap following Trump re-election
Following the re-election of former U.S. president Donald Trump, former finance minister Bill Morneau says the Canadian government should re-evaluate the timing of some cornerstone Liberal policies.
Tornado touched down Sunday in Fergus, Ont., experts confirm
A team of tornado experts are investigating a path of damage through Wellington County.
Canada cancels automatic 10-year multiple-entry visas, tightens rules
Canada has announced changes to their visitor visa policies, effectively ending the automatic issuance of 10-year multiple-entry visas, according to new rules outlined by Immigration, Refugees and Citizenship Canada.
Biden and Harris appear together for the first time since she lost the election to Trump
U.S. President Joe Biden and Vice-President Kamala Harris on Monday made their first joint appearance since her U.S. selection loss when they observed Veterans Day together by laying a wreath at the Tomb of the Unknown Soldier.
'I get goosebumps': Canadians across the country mark Remembrance Day
Across Canada, dignitaries marked Remembrance Day by laying wreaths at ceremonies, school children sang in the late fall chill and veterans recalled the horrors of battle.
Alien-like signal from 2023 has been decoded. The next step is to figure out what it means
If Earth's astronomical observatories were to pick up a signal from outer space, it would need an all-hands-on-deck effort to decipher the extraterrestrial message. A father-daughter team of citizen scientists recently deciphered the message. Its meaning, however, remains a mystery.
Man who allegedly staged bear attack arrested for murder in stolen identity scheme
A man accused of killing a person and staging it as a fatal bear attack in Tennessee was taken into custody in South Carolina over the weekend on murder charges, in what authorities described as a plot to steal the victim’s identity.
What to know about avian flu after B.C. case, from transmission to symptoms
A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.
Mattel says it 'deeply' regrets misprint on 'Wicked' dolls packaging that links to porn site
Toy giant Mattel says it 'deeply' regrets an error on the packaging of its 'Wicked' movie-themed dolls, which mistakenly links toy buyers to a pornographic website.