RioCan REIT has formed a JV with Tribute Communities to develop the residential portion of RioCan's Windfield Farms site in Oshawa, adjacent to a proposed Highway 407 expansion. RioCan said it's selling a 50% interest in the residential lands to Tribute for $3.1M, with closing subject to receiving final approval for the residential component. Tribute will handle the residential development, construction, sales and marketing. RioCan is exploring “various retail and mixed-use development options” for the remaining 70 acres of the site's 100 acres of developable land, able to accommodate 1.5M SF.
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