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Losani Homes purchase Fifth Wheel property in Grimsby

Posted by Greg Chew on Sep 24, 2015 3:36:24 PM

5th_wheel

Fifth Wheel closes today, and in it’s wake, the company has sold their Grimbsy waterfront property to Losani Homes. While little is known about the details of the sale and the future plans for the lands, the fact that it was purchased by Losani paints a picture of their intended use.


Losani Homes

The Stoney Creek based, Losani Homes, specializes in townhome and single communties. Their neighourhood focus has been generally concentrated in Hamilton, Binbrook and Ancaster. They currently have pre-construction community planned in Beamsville. 

The land purchased by Losani is zoned high density residential, with the boom of waterfront condominiums on the opposite side of Casablanca, you could expect a similar movement for the Fifth Wheel property. If Losani does choose a similar landscape to recent developments, it would be their first condominium project.



Town of Grimsby Waterfront Plan

Grimsby’s Waterfront Trail Plan was adopted by the town in 2014, through this plan, the municipality is entitled to the first 100 ft of waterfront on lands between Fifty Point Conservation Area and the town’s water treatment plant. The allotted land will be turned into a 3.6 km waterfront trail system.

The plan sets parameters to allow the town to develop the trail system, but it also controls the design of future urban development. Through the plan's the town implemented zoning by-laws for lands in the area, as well as detailed urban design guidelines. Losani will be subject to these restrictions.



New development along the waterfront in Grimsby

 1_Grimsby_waterfront_layout

The neighbourhood bound by Hunter Road and Casablanca is currently undergoing intense mixed-use development, spearheaded by large condominium projects. The point at the end of Casablanca is publicly owned and inline with the waterfront plan, will become an amenity based public space.

The diagram above shows how the Fifth Wheel land will fit into the waterfront landscape.

The following projects are in development directly along Grimsby's waterfront:

  • Waterview Condo’s - LJM Developments

  • Aquablu Condo’s - Homes by DeSantis

  • Lakehouse Condominiums - Branthaven Homes

  • Jazz Condominiums - Branthaven Homes

To learn more about Grimsby's waterfront trail plan click here. To view on market residential investment opportunities click here

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