Kawartha Dows will undergo an amazing renovation
The owner of Kawartha Downs, Romspen Investment Corp., has announced a major redevelopment of the facility. In Fraserville (Ontario), Canada, the entire complex is going to be renovated and expanded. It’s going to take a lot of work on expanding the playing options. The construction of a hotel, different performance halls, sports facilities, and more entertainment amenities is also underway.
Since Romspen Investment Corp. purchased Kawartha Downs three years ago. The company has been in financial difficulty before this acquisition. In spite of a protracted hunt for a buyer for all the property and other related companies, Romspen only submitted for the acquisition in 2019.
It is therefore imperative that any ideas put forth by them in Cavan Monaghan Township be approved by the municipality. Representatives of Romspen requested that the development plan will be approved during a meeting of the municipality. There are many ways to avoid delays in the development process.
Roms hopes that the city council will allow the proposal to be implemented and that they will be able to sign a redevelopment agreement with the municipality in the first quarter of 2022.
As a result, the municipality can benefit from a faster execution of the plan, since they will be responsible for the installation of sewer and water systems. The municipality will no longer have to pay this bill out of its own funds.
Romspen believes that refurbishment will bring a number of benefits. It’s better if there are more job opportunities in the area and the corporation takes care of areas that are designated as natural areas.
In addition, there will be a total of 588 new residences built as part of the proposal. By creating a mix of housing styles such as townhouses, single-family detached and semi-detached will benefit the entire region.
The horse racing track is one of the areas severely impacted. Since the outbreak of the coronavirus, the horse racing track has been in heavy weather because the use has been postponed several times. Last summer was the first time to organize horse races again. Of course, in accordance with all applicable health and safety regulations.
Bron: Burke, Brendan “Grote uitbreiding voor Kawartha Downs omvat amfitheater, hotel, kermis en 588 huizen”, The Peterborough Examiner, 2 december 2021