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
India's Modi condemns attack on Hindu temple in Canada
Indian Prime Minister Narendra Modi condemned a 'deliberate attack' on a Hindu temple in Canada, saying on Monday that he expected the Canadian government to ensure justice and uphold the rule of law.
Frustration over Mideast war in America's largest Arab-majority city may push some away from Democrats
As an ongoing part of Omar on the Road: America Decides 2024, CTV National News visited the University of Michigan-Dearborn campus to talk to Arab-American students about why they’re feeling left out of the Democrats’ tent.
Candlelight vigil held outside Halifax Walmart where employee was found dead
Hundreds of mourners took part in a candlelight vigil Sunday night for a young woman who was found dead at a Halifax Walmart last month.
3 people arrested after incident during protest at Hindu temple in Brampton, Ont.: Peel police
Peel Regional Police say three people are in custody as they continue to investigate an incident during a demonstration at a Hindu temple in Brampton on Sunday.
Police arrest Netanyahu aide as opponents accuse him of leaking intelligence to thwart Gaza ceasefire and hostage deal
Israeli police have arrested a top aide to Prime Minister Benjamin Netanyahu over allegedly leaking classified information to foreign media.
Ikea will pay 6 million euros to East German prisoners forced to build their furniture in landmark move
Furniture giant Ikea has agreed to pay 6 million euros (US$6.5 million) towards a government fund compensating victims of forced labour under Germany's communist dictatorship, in a move campaigners hope will pressure other companies to follow.
Where should Canada look to improve its housing situation? The answer may shock you
Housing experts argue widespread adoption of government-supported affordable housing, the growth of alternative models like co-operatives and co-housing, and the increased use of advanced building techniques could all play a role in improving Canada's housing system.
At least 36 dead after an overcrowded bus falls into a gorge in northern India
A poorly maintained and overcrowded bus veered off the road and plunged into a deep gorge in northern India on Monday, killing at least 36 people and injuring several others, officials said.
Oil, gas companies told to cut emissions by one-third under planned cap
Oil and gas producers in Canada will be required to cut greenhouse gas emissions by about one-third over the next eight years under new regulations being published today by Environment Minister Steven Guilbeault.