Bayer's Lake Developments & Discussion Thread

[Dmajackson]

Found this in the Burnside News today;

Plazacorp says thanks, but no thanks
BAYERS LAKE
KEN PARTRIDGE
The Burnside News

Plazacorp has decided to walk away from its option to purchase and develop more than 80 acres of commercial property in the Bayers Lake Business Park.

Plazacorp had an exclusive opportunity to develop the land located behind Kent Building Supplies into a new retail node in the busy Bayers Lake Park. Preliminary plans and designs were drawn up and a road network worked out, but HRM’s Business Parks Office says the company has decided not to pursue the project.

“I can confirm that Plazacorp, as part of its due diligence, has exercised its condition under the Agreement of Purchase and Sale and will not be proceeding with the purchase,” says Michael Wile, Business Parks manager, in a letter to the Bayers Lake Business Association.

Wile says no detailed reasoning was given by the company for why it decided to walk away, though he suspects it’s “probably a sign of the times,” referring to the current recession.

Council is now considering it options on what to do with the land. Wile says it would likely be several months before a final decision is made on whether to reoffer the land to other developers.

The delay stems from a desire to have several other items dealt with prior to any future development taking place. These include final approval for the Business Parks Functional Plan, as well as the creation of a third entrance/exit point for the park.

On that front, Council has awarded a $195,939 tender to SNC Lavalin for consulting design services on the Washmill Lake Court underpass beneath Highway 102.

“The completion of the underpass has been identified and endorsed by Council as a prerequisite to any further expansion at Bayers Lake,” Wile says. “Moving forward with the functional design will add significant value to future discussions with potential purchasers and/or development partners.”

The consulting design work is expected to be complete by mid-summer and will include costing the entire project along the new corridor through Halifax Water Commission lands to where it will meet up with Main Avenue.

Once complete, the design would be vetted by HRM Design and Construction Services before being passed to Council for final approval. However, there is currently no budget attached to the construction phase of the project. Wile says the original plan was to cover the cost of construction through the sale of land to Plazacorp. With that deal now gone, another plan will have to be put in place.