Beachfront due diligence period with Bayloc Developments ends without a finalized agreement. NO DEAL!
In an announcement today, the Town of Wasaga Beach has advised that they have concluded their due diligence process with Bayloc Developments Inc. and despite best efforts to agree on a timeline for the project, the agreement will not be finalized and talks have concluded.
Previous Council had announced in August that it was selling town-owned land at the beachfront to Bayloc Developments Inc. with Zancor as a partner, subject to a 120-day due diligence period.
Mayor Brian Smith said that in the New Year council members will consider next steps for the redevelopment of the properties. It is on the priority list and town staff continue with detailed design work for the infrastructure that will support the development area.