The Kawartha Golf & Country Club in Peterborough, Ontario is another step closer to continuing their further development with news today that an agreement has been reached to sell some of their land holdings.
According to a release from AON, Inc, a Peterborough-based company involved in community development and retirement living, they have “entered into a conditional purchase and sale agreement for a 23-acre parcel of land at Kawartha Golf & Country Club.”
The land wedge is located on the southern edge of the golf course’s property, along Clonsilla Avenue, to the left of the current laneway.
The AON, Inc. plan for the site will be the development of a retirement residence, according to their President, Brad Smith. “This purchase represents a foundation of growth and investment in Peterborough for many years to come. Long-term plans for the site include a full-service retirement residence that will offer aging-in-place, luxury seniors apartments, and a mix of apartment and condominium housing still to be determined.”
The agreement will now enter a due diligence phase with a plan to have the purchase finalized by the end of 2018. AON will now work with the City of Peterborough for the appropriate approvals of the projects they plan to undertake on the 23.3 acre space.
While no terms of the sale agreement were released it is indicated that the proceeds will allow the golf club to move forward with revitalization plans including two new holes to replace those lost in the land sale, as well as the development of a long-planned new clubhouse and an improved range and practice area.
The new holes have already been designed by architect Ian Andrew who has done past work with Kawartha along with other Stanley Thompson course designs around the country.
“Kawartha welcomes the beginning of a working relationship with AON Inc., a great local developer,” said Rob Elliott, Kawartha president.
Along with their community development business, AON, Inc. also owns the Port Hope Golf & Country Club in Port Hope, Ontario.