RICHMOND HILL PURCHASES OBSERVATORY PANHANDLE LANDS
Deal Brings a Portion of the David Dunlap Observatory Property into Public Ownership
RICHMOND HILL – Town of Richmond Hill Council has approved the purchase of a portion of the David Dunlap Observatory (DDO) property known as the ‘panhandle’. The panhandle lands represent 12.1 acres that have been under lease to the Town and include the lands under the Elvis Stojko Arena, which is located at 350 16th Avenue.
“We are very pleased that we have been able to reach a deal with the owner to purchase this part of the property,” said Mayor Dave Barrow.
The Town will pay $19.5 million for the 12.1 acre site, which is split between the David Dunlap Observatory Park (8.0 acres) and the Elvis Stojko Arena (4.1 acres). The DDO lands are owned by Corsica Developments Inc. The official closing date of the transaction is set for on or about October 12, 2012.
“This purchase brings the property into public ownership and will allow us to continue to provide services to our community,”
added the Mayor. “With the purchase of the panhandle lands, the Town has now secured a total of 111 acres of the property for public use.”