One of the largest development projects in Windsor’s history is moving forward.
The $250-million project by Farhi Holdings will include seven condominium and apartment buildings with one and two bedroom units and 101 single-family homes on vacant lands at 1600 Lauzon Rd.
Windsor mayor Drew Dilkens and three builders provided details on the project at the east Windsor site on Wednesday.
“It will end up being $250 million when all is said and done,” says Dilkens. “It will see the creation of seven residential buildings, four buildings with 58 units each for a total of 232 units, three buildings with 70 units each for a total of 210 units.”
Part of the cost will include the clean-up of the property, where the former Lear factory was located.
Dilkens tells CTV News the agreement will see the city swap land around the WFCU Centre to create a storm water retention pond and additional parking for the community centre.
The plans call for four apartments to be developed around the pond along with 11 single-family lots.
Shmuel Farhi, the owner of Farhi Holdings, says this is a large project for his company.
"This is probably the largest undertaking by Farhi Incorporation," says Farhi. "The first largest build that we do and we are proud that our first development is in the City of Windsor. The time is right. Windsor needs this housing."
The project is expected to create about 200 construction jobs over two to four years.
Work to remove concrete from the site is expected to begin in two weeks and construction on one of the residential buildings is set to begin in mid-November.
Farhi expects all single-family homes will be completed within three to four years, and they will range in price from $650,000 to $1 million.
He adds hotel and commercial areas will be constructed in the area, according to future demand.
Farhi also announced plans to build a $50 million, 24-to-30 storey condo tower and boutique hotel at Janette Avenue and Riverside Drive.
