Development
MGL is proud to be the largest investor in the Beachwood Terrace development project. The Beachwood Terrace Limited Partnership was formed to facilitate potential investors to participate with the developer to acquire, develop, and to fully construct approximately 200-unit residential luxury townhomes located in Wasaga Beach, Ontario Canada, one of the fastest growing recreational housing communities in Ontario.
Financial Investment Benefits
- Limited partners receive profit participation on a priority basis.
- Limited partners receive 100% of initial capital contributions on a priority basis.
- Limited partners receive a minimum preferred rate of return of 10% per annum cash on cash return.
- Limited partners receive 35.27% of all distributable profit from operations.
The Project
- The Beachwood Terrace development land is comprised of 6.48 hectares (16 acres) in size and is located on the south side of Beachwood Road, Wasaga Beach, Ontario, Canada.
- The development lands are surrounded by existing residential development to the East, Georgian Bay to the North, and a newly constructed four lane by-pass highway to the South.
- The lands are currently designated and zoned for future residential development purposes in the municipal official plan.
- The site plan proposal that consists of 200luxury townhome housing units consists of 3,4 and 6 unit townhome blocks.
- In addition to the 200 townhomes, there are an additional 12 single family residential lots plus commercial lands sufficient to accommodate approximately 35,000 sq.ft of retail/residential commercial.
- We anticipate that after receiving all final municipal approvals and permits, site servicing and road infrastructure can commence in the Fall of 2019 and housing construction in the Spring of Aug 2021*.
Beachwood Terrace Development
- Beachfront Revitalization – A total of $625 million has been budgeted for the re-development of the beachfront, which will involve the development of 230,000 square meters of new residential and commercial space.
- Capital Infrastructure Improvements *Roads – Long term approved total investment by the municipality for road works of $76,882,000 *Sanitary and Water – Long term approved total investment by the municipality for Water and Sewer projects of $66,411,000 *Storm Drainage – 10 year approved total investment by the municipality for storm drainage of $14,920,000
- New 45,000 sq.ft Casino which will generate $3 million in revenue for the municipality annually and 400 permanent high paying jobs.