Seaton is a proposed new urban development on 3,100 acres of land in the City of Pickering. Upon the lands being developed, Seaton will be a mixed use, sustainable community which will be a workplace for 35,000 and home to 70,000 people.
The province owns more than 1000 acres of Seaton Lands, which are managed by Infrastructure Ontario (IO). On January 7, 2016 the Province began to market the sale of approximately 800 acres of Employment Lands and 269 acres of Residential and Mixed-Use Lands. These Lands will be offered as a single large parcel to prospective purchasers through an open market process, which will be lead by the Broker of Record, CBRE Limited (the Canadian entity).
It is projected the Provincial portion of the Seaton Lands will be sold by the end of 2016 or early 2017.
- News Release - Ontario Moving Forward with Sale of Seaton Lands (January 7, 2016)
- What is being sold?
The sale includes approximately 800 acres of employment lands and 269 acres of residential and mixed use lands.
- Who can purchase the Seaton Lands?
The Seaton Lands will be offered as a single large parcel to prospective purchasers through an open market process.
- Will there be criteria a prospective purchaser are required to meet?
The lands will be sold on an “as is where is” understanding.
- Is the sale only open to proponents in Ontario?
The sale is open to all interested and qualified proponents.
- How long will the process take?
It is estimated that the Seaton Lands will be marketed and transactions closed by the end of 2016 or early 2017.
- What is the estimated price of the provincially owned developable Seaton Lands?
When the sale process is completed, including the closing of the transaction, the sale price will be available.
- Where will the revenue from the sale go?
The revenue from the sale will flow to the Trillium Trust.