Niagara Real Estate Blog

Prudhommes Landing sold - What's next?

Posted by Terence Davids on Jul 21, 2016 4:08:20 PM
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Prudhommes Landing - sold commercial real estateSource

Prudhommes landing has finally been sold. This high-profile lakeshore property is located in the town of Lincoln right next to the QEW from the edge of the Lakehouse restaurant to the Tim Hortons near Victoria Avenue. The 80-acre property has been owned for decades by Ken Fowler Enterprises and was sold to FBH Ontario Inc.

What was once a busy amusement park that featured waterslides, go-carting, and mini putt eventually closed after the 1980s. Since then, it has been abandoned commercial real estate sitting on the shoreline and market. Unconfirmed reports are suggesting it sold for nearly $30 million.

 

Prudhommes Landing’s rough past


What once was one of the biggest recreation complexes in Ontario, Prudhommes Landing attracted upwards of 7,000 guests during peak summer months after it was started in 1949. After numerous fires in 1967, and twice in 1971, the value of the property slowly declined. There were many development proposals that came with the numerous owners of the land, with the most recent being in 2006 when Ken Fowler Enterprises was approved for a $319-million mixed-use development. It eventually wasn’t materialized, with the property being listed for sale in 2009 and now being sold in 2016.

 

Mixed feelings regarding property plans


Of course, big sales such as this one along with big development plans will always result in divided opinions. Lincoln’s Mayor Sandra Easton has stated that she is “enthusiastic that there is movement on this property...an important piece of the municipality’s long-term plans for growth and development.” Fowler believes FBH Ontario Inc. will deliver a development that everybody in the peninsula will be pleased with.

Fowler owned the land for more than 20 years and said he felt the land was big enough for a community with places to work, live, and find leisure activities which is why he wanted to ensure he was selling it to the right company. Although there is much positivity and support for the upcoming development, people who own local real estate to the land aren’t as optimistic due to the years of construction ahead right in their backyard.

 

What’s next in store


There will be plenty of houses for sale once this development is complete, but one of the big focuses that is staying consistent is the importance of public access to the waterfront. Once the proponents are out of the way by hopefully late fall, the plan that includes architecture and design features will begin, with demolition already having been started.

The GO train heading down to the Niagara Region with Lincoln as one of the stops further adds to the need to ensure the infrastructure planned for this location is what is most effective in attracting people to the destination. The Niagara Region plans to work closely to ensure there’s a healthy mix of residential, commercial, and recreational usage planned for this property.

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Topics: Niagara Region

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