The Land Services Group was awarded the mandate to manage the disposition of 5.80 acres of high
density residential development land on behalf of a large publicly traded company. This site lies within
Markham City Centre and is surrounded by existing and currently under construction high-density
residential and mixed-use developments.
There were significant challenges hindering development on this site including an onerous cost sharing
agreement applicable to the area. Most notably, there were unknown challenges that could be uncovered
during site plan application with regards to the existing flyover from Warden Avenue, the access to the site
from Warden Avenue, as well as the potential requirement to rebuild and expand the privately held road
to the south. On top of these issues, the vendor had an internal requirement to close this transaction by
calendar end of 2016 even though the property had yet to be severed from the adjacent lands.
The Land Services Group generated multiple offers from top developers within the GTA while navigating
the challenges with development and timing constraints, and were able to close the transaction for $15
Million in December 2016 with Lifetime Developments.