London developer tees up housing play
July 30, 2018
London developer Corlon Properties is teeing up land for a condominium and townhouse development adjacent to the Sunningdale Golf and Country Club in the city’s north end.
Corlon has about 200 hectares in the region, but is offering sites on 20-acre parcels overlooking the golf course in a first phase. The site, called Sunningdale, is zoned for multi-family development.
Work may begin on Sunningdale later this year, but it will take as long as 20 years to build out all of the Corlon land, according to Gord Thompson, president of Corlon Properties, who is also president of the Sunningdale Golf and Country Club.
It’s not yet known how many towers or townhouses will be built at Sunningdale, but they could combine to total about 500 units, said Thompson.
Corlon has built the Meadowlands of Sunningdale neighbourhood and both phases of construction — more than 160 homes — have been sold out.
London home building has slowed a bit this year. In May, for example, there were 185 housing starts, compared to 235 in May 2017. And starts through the first five months of this year, at 895, were down from 1,382 units at the same time a year earlier.