Welland Council has approved the sale of over 31 acres of land to a housing developer.
The land, located at 469 Rice Road, has an accepted offer from the Schout Corporation and plans to build single-detached, semi-detached, townhouses, and multiple dwellings.
A minimum density of 50 residents and jobs combined per hectare is required.
The 31 aces sold, was land formerly known as the location of the Welland Soccer Club.
The City will transfer proceeds from the sale into the Youngs Sports Complex (YSP) Sustainability Reserve.
The Reserve supports the development of long-term strategies, ensuring no impact on the tax levy due to YSP deficits or capital requirements.
“The new Youngs Sports Complex Sustainability Reserve ensures sustainability, and funding is in place for both operating and capital funding for the Young Sports Plex,” said Steve Zorbas, CAO.
The property's requirement that it be within the City's urban boundary was met earlier this year when Regional Council approved its inclusion in the urban boundary as part of the Northwest Secondary Plan.