Fountain Hill project in Bancroft ready to launch

September 23, 2022

By Chris Drost

The Town of Bancroft will soon have over 100 new homes, a mix of duplexes and townhouses, a hotel and senior citizen building complex, that will add to its growing number of much-needed residential units, and will support future economic development opportunities.

Efforts of the past few years have come to fruition with the announcement that the Fountain Hill project on Mill Street (just south of the Hwy 62 and Bridge St. intersection) on a 50-acre property, received County of Hastings planning approval on Aug. 9 and will be going ahead with renderings of the residences expected in early 2023. Occupancy for the residences is forecasted within the third quarter of 2024.

The first of the three-phase project will focus on the residential component, the second on a hotel and the third on the development of a senior citizen building/complex. Fountain Hill is being funded by Toronto-based investors.

“The Town is very pleased to see the formal announcement of this project after working with the developer for several years. The higher density housing mix is most welcome and has been sought after by purchasers for some time. Many people want a smaller footprint with less property to maintain. The inclusion of a hotel has been on our wish list for many years. Accommodation has been an issue for our major events and this will also open the door to new events that will further benefit the community,” says Mayor Paul Jenkins.

The construction management contract for this project has been awarded to Terraphorme Project Management, a Toronto-based company. Other consultants for the project going forward include MHBC (planning), Lithos Group Inc. civil engineering) and Taes Architects Inc. (architecture).

“This project brings affordability to the market with mixed residential options. Who can afford a single- family home these days? We have taken a look at intergenerational uses for a wide range of demographics from young couples, to small families, to seniors,” says Akeel Hussain, president of Terraphorme Project Management of Toronto.

“Bancroft’s policies in housing, growth and economic development are what attracted the Toronto-based developer (2630919 Ontario Inc.) to the town. Policies and framework such as tax rebates and no development charges incentivise developers to bring more affordable housing to the market. The Fountain Hill has received a lot of support from the Mayor of Bancroft, town council and the County of Hastings planning office,” explains Hussain.

“Families that visit don’t currently have places to stay and workers coming to the community, professionals, government employees and others, need a place for short term stays,” says Hussain, in explaining the rationale around the building of a new hotel.

Details about the site plan and traffic flow will come through the site plan approval process, according to Mayor Jenkins.

When asked about their experience working with the Town of Bancroft, Hussain has good things to say. “Bancroft has been the easiest municipality to work with in all of Ontario. We have worked with many but they are often an uphill battle. Bancroft expedited things and has been very helpful. When you call, you get a call right back,” says Hussain.