Belterra development secures subdivision agreement

Posted November 21, 2012

New Tecumseth's single largest ever residential development is cleared to begin construction of Phase 1, 348 units of the Belterra Estates (Treetops) following Monday night's approval of the subdivision agreement. Council is expected to ratify the package Monday night which includes allocation of water and wastewater services to accommodate the first phase.

Belterra, which has been in the planning approvals process for about 10 years, is anticipated to build out over a 10 year period between the 14th Line and Hwy 89 on the east side of 10 Sideroad. And when completed will include 1,868 new housing units.

The Treetops community, which is a Cable Bridge (Biffis family) offering, is being developed by Brookfield Homes and the Sorbara Group's Orchard Ridge Homes. Unlike Cable Bridge's adjacent Green Briar and Briar Hill communities which are on private services, Treetops will have be serviced by the regional sewage treatment plant, and municipal water.

In another first, New Tecumseth has agreed to accept a trade with Cable Bridge whereby instead of having to provide financial compensation to the Town for the removal of the 8.9 hectare woodlot and 2.8 hecatres of individual trees, New Tecumseth will accept its 16.91 ha of forest/reforested land being dedicated to the municipality as public land.

The developer is required to post about $10.2 million as a letter of credit to cover the costs of all the municipal services works.

Because Cable Bridge has front ended the cost of bringing water and waster services to its property line, they will have DC credits. So for Phase 1, the developer will not be required to pay the Water component of DCs, and will owe $226,988 for the sanitary services. The roads component will be $2.08 million. And as per council's policy change earlier this year that shifted when DCs are due, the Town will not receive any until the building permits are issued.

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