As per the latest reports, the town-owned lands in Caledon East may transform into hotbeds for future real estate development and other projects. Several projects have been lined up for Caledon East over the last couple of years. It has now emerged that lands here are owned by the town and any approval for a project will have to be provided by the town of Caledon. One of the applications made is for the Triple Crown Line development at 15505 and 15717 Airport Road. The application came into the headlines when it emerged that the developer paid a whopping $100 million for the land.
The town-owned land at 15944 Innis Lake Road was initially not part of the map, these may attract developers as per reports. Big developers are already holding talks with the town authorities for buying land for various real estate projects. The lands situated within the Settlement Boundary are owned by the town of Caledon and are being considered by a large real estate developer for a new venture.
There has been some resistance from local residents with regard to potential sell-outs of the land by the town. However, innovatively tailored and beneficial projects should definitely spark interest among local residents with regard to future development on these town-owned lands which are untapped till now and could unlock huge future prospects as far as overall development is concerned. With Amazon confirming its fulfilment centre in Caledon and other commercial development on the anvil, it is a matter of time before the town becomes a major residential hotspot in the GTA.