Details are thin but another urban Toronto-area golf course has been acquired for development.
News has come that the purchase of the The Country Club Golf Course in Woodbridge, Ontario was officially completed on Wednesday, May 3rd.
The 290 acres of prime property was acquired by the RGF Real Estate Fund L.P. There is potential for re-development for approximately a third of the land.
Clubhouse Development, Inc. will oversee the creation of a residential community on the property which is reported as including , “a blend of family homes and a significant amount of green space accessible to the community.”
RGF President John A. D’Angelo says, “Low-rise housing inventory is down 65% year over year in the GTA. With this shortage and an 8% population increase in Woodbridge alone in the last five years, this rare land opportunity can help fulfill the growing need for desirable housing in Ontario.”
A release from the company says development will not commence immediately. No timeline was provided.
The Country Cub was opened in 1965 as the Board of Trade Golf & Country Club. The 45-hole club reached a 21-year lease agreement with Clublink that began in January, 2006.
With rising demand for housing and higher land values, a number of golf courses in the Greater Toronto area are currently in re-development as residential properties.
One golf course architect/landscape architect we spoke with says he is currently working on six conversions of golf courses for other uses. He would not name the specific projects.