|
The City of Pickering has finalized agreements with Kubota Canada Limited and other anchor tenants in the Pickering Innovation Corridor, which will be the catalyst for future job growth and economic development along Highway 407 in Durham Region.
Kubota Canada Limited, a subsidiary of Kubota Corporation - Japan, will be constructing a 500,000 square foot facility, plus an additional 65,000 square feet of head office space in its first phase. This new state-of-the-art facility will feature enhanced testing and training, as well as increased warehousing and logistics. Kubota Canada Limited has purchased 50 acres of land and looks to expand its campus to over a million square feet in future phases.
Red Crest Developments will be building two adjacent office buildings totaling almost 300,000 combined square feet. As such, there will be opportunities for small, mid-sized, and large businesses to lease office space in the Pickering Innovation Corridor. The office towers will be strategically located with easy access to Markham's high tech sector and Durham Region's EN3 super-cluster of ENergy, ENvironmental, and ENgineering companies.
The Behar Group will be building a 4-star hotel with an adjoining convention centre. The 30,000 square foot convention centre will be able to accommodate industry conventions, trade shows, corporate meetings, weddings, and social events. The developer has committed to creating a convention centre with the ability to meet the needs of all faiths, cultures, and ethnic backgrounds.
The Pickering Innovation Corridor is comprised of 800 acres of provincially owned lands in Seaton, located along Highway 407 between York-Durham Townline Road and Brock Road. The City of Pickering undertook the extraordinary approach of buying select prime acreage from the Province in order to directly market, sell, and manage the economic development opportunity.
"The City of Pickering's bold and innovative approach of purchasing and managing a portion of these Provincial lands was instrumental in signing the Innovation Corridor's first anchor tenants. It demonstrates that we're hungry and are willing to do what it takes to earn your business," said Mayor Dave Ryan. "More importantly, these initial investments will kick start immense commercial and industrial growth along Highway 407, which will create thousands of new jobs and strengthen both Pickering and Durham's economy over the next two decades."
|
