Town of Bracebridge Council has approved the land acquisition of 300 Pine Street from Fowler Construction Limited for $1.3 million.
The land at 300 Pine Street is one of the locations identified by Muskoka Algonquin Healthcare (MAHC) as a potential site for the new hospital in Bracebridge. The Town is committed to supporting the MAHC Capital Redevelopment project, including advocacy to provincial officials, participation in Bracebridge site selection and participation on MAHC’s Local Share Working Group.
The Town is committed to ensuring financial sustainability, and the property’s valuation represents a good opportunity for the Town to expand its assets while being fiscally responsible. A thorough review of the property was undertaken to confirm viability, including an environmental assessment and survey work during an initial due diligence period. If 300 Pine Street is not selected by MAHC, it still holds significant value to Bracebridge, advancing the Town’s priorities of shaping the future of the community and encouraging long-term economic development and growth.
The funds allocated for the purchase of this property will be supported by reserves and is included in the Non-Program section of the 2023 municipal budget and business plan.
“The Town of Bracebridge is committed to strengthening our community. The purchase of 300 Pine Street advances our commitment to supporting the health and wellness of the community, Muskoka Algonquin Healthcare’s capital redevelopment project, and contributes to the resources that will support our future.”
– Rick Maloney, Mayor, Town of Bracebridge