The Town of Wasaga Beach and Sunray Group of Hotels finalized a deal on Friday that will see the latter invest more than $45 million into redeveloping part of the town’s iconic beachfront.
The deal was made official a week after the town approved a purchase and sale agreement with Sunray Group for them to acquire town-owned land near Beach Area 1.
With the necessary signatures now in place, Sunray Group is set to move forward with the construction of a premium-brand hotel, the first of a four-phase project.
The following phases are expected to include additional hotel buildings, shops, restaurants and other amenities near Beach Area 1, with the goal of serving locals and tourists year-round.
“It’s going to be very similar to the village at Blue [Mountain] in many ways, with commercial restaurants and boutiques, as well as residential and commercial hotels,” said Brian Smith, Wasaga Beach mayor, in an interview with CTV News on Friday. “We’ve always been a seasonal destination, and what we know is that, the Town of Wasaga Beach, any community, needs more than that now.”
The town says that the redevelopment will also create more than 100 local jobs.
“Sunray’s investment represents over 100 local jobs, higher-value tourism and multi-day visits to our community, which will support our small businesses,” added Smith, in a media release on the town’s website. “It also represents a growing commercial tax base, which takes pressure off of our homeowners.”
Demolition of the old beachfront is expected to continue for a few more weeks and construction on the first redevelopment phase will be set to begin immediately after that.
The new hotel’s brand will be announced by the town and Sunray Group in the coming weeks.
With files from CTV’s Christian D’Avino and Kim Phillips.
