Massive Markham Buttonville development in jeopardy, councillor says

Yorkregion.com
Sept. 27, 2017
By Tim Kelly

The massive 175-acre long-planned Buttonville Airport development could be in jeopardy.

It's believed Cadillac Fairview, the chief developer of the property adjacent to Hwy. 404 and north of 16th Avenue, has walked away from the project over a disagreement with York Region on the amount of infrastructure fees it is being asked to pay.

The $4-billion project which would have created 15,000 to 24,000 jobs and housed 6,000 to 7,000 residents would have been home to such amenities as a cinema, office and retail space and possibly even a 60-storey tower.

Cadillac Fairview and the Region of York have been locked in disputes at the Ontario Municipal Board for the last four years over various issues but in the latest meeting, on Aug. 2, could not agree on several issues.

According to Markham regional councillor Jim Jones, who spoke at a Unionville subcommittee meeting on Monday evening, "Cadillac Fairview has walked away from the Buttonville development."

Jones was speaking in relation to the possible widening of 16th Avenue from Kennedy to Hwy. 404 and brought up the Buttonville development because he felt Markham couldn't count on Cadillac Fairview to pay to widen the avenue to the highway.

In an interview Tuesday evening, Jones, who has spoken with Cadillac Fairview representatives, discussed why they were no longer interested in the Buttonville property at this time.

"What they told me, is they'll park the land, land bank it and see what happens in four or five years," Jones said about Cadillac Fairview's intentions regarding the Buttonville property.

"They thought the Region was asking for a blank cheque (on infrastructure fees for the property) like $300 million-plus," said Jones, suggesting Cadillac Fairview wasn't willing to go that high.

As far as operations at the airport are concerned, Derek Sifton, president of Million Air Toronto, said last May that Buttonville will continue to function in its current state until at least Oct. 31, 2018.

"After extensive discussion and review, an agreement has been reached with the Buttonville Airport land ownership partnership, to continue airport operations here at CYKZ until Oct. 31, 2018, and possibly beyond this date if circumstances with the airport redevelopment so dictate."

Requests for comment from Cadillac Fairvew were not answered.