Land banker to emerge from the shadows tonight

Posted January 23, 2012

If buying up large tracts of agricultural properties in town can be done relatively under the wire, then tonight's scheduled appearance of the Walton group's CEO and its President, is their coming out party.

Bill Doherty, CEO Walton Global Investments Ltd., and John Plastiras, President, Walton Development and Management, will make their first public appearance at a council meeting since the multi-layered Alberta based company started buying up farm properties in the New Tecumseth area a few years ago, amassing more than 4,500 acres since then.

Mr. Doherty is a member of the family that founded Walton in 1979, and has been involved in land acquisition and management since 1993. Mr. Plastiras, oversees some 72 master-planning areas, comprising assets of $3 billion CAD including more than 62,000 acres in 11 of North America's fastest-growing regions.

"We collaborate and partner to create master planned communities, incorporating smart growth principles, that meet the needs of present and future generations," according to company's stated mission.

Last summer, Walton announced it had sold 154.93 acres at 6857 and 7005 Industrial Parkway Alliston for $23 million. That property is currently in the planning approvals process for a proposed 12-lot industrial subdivision of varying size units over 62.7 hectares, with a storm water management pond included. Its status at this point remains somewhat stalled from the Walton side. If built-out, it would be the first non-Honda related industrial development in several years in New Tecumseth.

The package from Walton on tonight's council agenda suggests it seeks to explore "partnership ideas" including:
- A Gateway Economic/Free Trade Zone.
- Complete and Sustainable Resid:ential Communities.
- Partnerships for infrastructure/service delivery/and financing, Joint economic development, .etc.
- Present an initial "Vision" for each Walton Land Assembly
- A Comprehensive Approach to Planning, Infrastructure, and Services ¥ New Opportunities.

On the residential side, Walton's timing probably couldn't be worse in light of last Thursday's unveiling of the Growth Plan for Simcoe - which the Province enshrined into legislation through an Order of Council. While New Tecumseth, and Alliston in particular is one of the identified primary settlement areas, the new planning guidelines do not provide much leeway for growth to take place outside the urban bounds of those nodes, and puts a hard cap on the population allocation which for New Tecumseth is 56,000 by 2031.

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