 New Horizon Development Group has taken over the Bridgewater project at the foot of Elizabeth Street from MADY Development. When complete, Bridgewater will feature a 22-storey condo, 8-storey 4-star hotel (Delta, recently acquired by Marriott International), retail along Lakeshore Road, and a 7-storey condo, with a central public plaza and public walkway along the shoreline.
The development is roughly 30% sold. The goal is to begin construction later this year, once sales reach about 75-80%.Bridgewater is designated a "landmark" in the city's Official Plan, meaning other developments must defer to it to give it prominence of place. The project is currently in the site plan approval stage, going over detailed drawings of where everything fits on the site.The development has been in the planning stages for more than 20 years. In that time, setbacks from the shoreline have increased. Bridgewater was grandfathered in for a period of time, but that time has elapsed; they sought an extension from Conservation Halton to use the previous setbacks, and received approval.CORRECTION: I have just received additional information from New Horizon about the building permit status and timelines from Conservation Halton regarding the setbacks:The permit is valid until October 21, 2016. The term “substantially complete” does not appear in the permit, nor is it a condition of approval. However, Conservation Halton staff have indicated that they would like to see the superstructure well under construction. Ideally, the project should be finished by the permit expiry date, but CH has indicated they are willing to be “reasonable” based on the size and complexity of the development, and so the term “substantially complete” is their own wording. Staff will consider an extension or new permit if the project has proceeded to a level that is satisfactory to them. There is also a role for the CH Board to play, regardless of the staff position.My Take: So long as construction is underway, it is likely that the project will be permitted to proceed as designed beyond the deadlines. However, as a new member of the Conservation Halton board, I will be watching closely and keeping you up to date.
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