Opportunity
The imminent widening of Hwy 7 to 4 lanes, from Kanata to nearby Carleton Place, signaled significant residential growth and the accompanying need for greater retail services. As a result, a 64-acre farm at the corner of the future Hwy 7 and McNeely was identified as a premiere opportunity for both retail and residential developments.
The solution
Leveraging our retail relationships and our expertise in greenfield development, numerous major national retailers were attracted to the site including Rona, Staples, Starbucks, TD Bank, the LCBO and more.
Results
Now firmly established in the community, Carleton Place Colonnade, the 20-acre retail centre, continues to deliver long term returns. The owner’s initial intention for the property was to develop and sell, and with the help and expertise of our team, they were able to do just that. The remaining 44 acres were rezoned to residential to coincide with the timing of the completion of Hwy 7 and were sold to a major home builder, with a significant ROI realized.