The Rose Corporation completes 241-acre, $116 million acquisition of fully entitled land for the immediate development of a 1,400-unit residential subdivision just north of Barrie

MIDHURST, ON, Sept. 26, 2022 /CNW/ - The Rose Corporation, in partnership with Claridge, is pleased to announce the acquisition of 241 acres of draft plan approved land.

The 1,400-lot residential subdivision is located in Midhurst Heights, Springwater Township, within the Barrie census metropolitan area and is proximate to Barrie's shops, restaurants and recreational amenities. This development falls within the new Midhurst Secondary Plan, the future home to 10,000 families.

The Rose Corporation completes 241-acre, $116 million acquisition of fully entitled land for the immediate development of a 1,400-unit residential subdivision just north of Barrie (CNW Group/The Rose Corporation)
The Rose Corporation completes 241-acre, $116 million acquisition of fully entitled land for the immediate development of a 1,400-unit residential subdivision just north of Barrie (CNW Group/The Rose Corporation)

Daniel Berholz, President of The Rose Corporation commented "Working with our partner Claridge (a private investment firm headquartered in Montreal), The Rose Corporation team has secured significant financing to complete the acquisition and development of 241 acres within the Midhurst Secondary Plan. The secondary plan approvals have taken more than 15 years to secure, making this community a very rare find."

Andrew Webster, The Rose Corporation's Senior Vice President added "We are excited to be working together with Springwater Township and the Midhurst Landowners Group to animate this new master planned community. Bringing the plan to life will require a significant investment in the external infrastructure including state of the art water and wastewater treatment plants, and improvements to local roads. The Rose Corporation is committed to creating beautiful, affordable and sustainable developments. This community is no exception, and benefits from a breathtaking location, on the edge of one of Ontario's best outdoor playgrounds."

For media inquiries, please contact Antonio at antonio@rosecorp.com.

About The Rose Corporation

The Rose Corporation is a real estate development and asset management organization with a four-decade long track record of successful real estate investment. In addition to delivering several thousand homes in a variety of communities across North America, for the past decade, The Rose Corporation has focused on the development and construction of purpose-built rental in secondary markets in Ontario. Through this mandate, Rose has completed or has under development, over 3,000 new homes and lots with values exceeding $1.3 billion. The Rose Corporation is passionate about community building for our valued customers while generating strong returns for our partners.

This press release contains forward looking information subject to risks and uncertainties that could affect final results and is not a solicitation for investment.

The Rose Corporation Logo (CNW Group/The Rose Corporation)
The Rose Corporation Logo (CNW Group/The Rose Corporation)

SOURCE The Rose Corporation

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