Newmarket, Ontario, Friday, May 4, 2018
- The Town of Newmarket is pleased to announce that through a very cooperative process with Main Street Clock Inc. (MSC Inc.), a settlement has been reached for the future development of the historic Clock Tower and 184-194 Main Street, Newmarket. This proposal will mostly consist of renovation within the existing building and could include office, residential and retail uses.
“The Town of Newmarket and MSC Inc. began discussing the possibility of a settlement late last year. In light of servicing allocation constraints, the discussions began to move in a different direction that created an alternate vision for the property. Working together we have been able to achieve a very positive mutually beneficial agreement,” says Mayor Tony Van Bynen. “We are excited that we have reached a solution that is a win-win for the Town, the developer, the downtown area and Newmarket as a whole.”
The community can expect the Clock Tower to generally look similar to how it looks today, with heritage elements being maintained. The front of the buildings on Main Street will be restored using appropriate heritage conservation techniques. This development will help to continue to refresh and revitalize Newmarket’s downtown core, while paying tribute to the rich history and heritage of the area.
This settlement will resolve the two Ontario Municipal Board (OMB) hearings related to the property, as well as a pending court application related to a 2003 land exchange agreement for lands in market square. The Town and MSC Inc. are fully committed to an open and transparent process with all details and conditions outlined in the Minutes of Settlement
available at www.newmarket.ca
“The proposal provides for new job creation, potential residential units, heritage preservation and restoration, increased placemaking opportunities and economic growth,” says Chief Administrative Officer Bob Shelton. “We will continue to work closely and collaboratively with MSC Inc. and provide support through our Economic Development office to see our shared vision become a reality.”
The Clock Tower was constructed in downtown Newmarket between 1914-1915, with a major addition added in 1956. Most recently the building was used as a Seniors’ residence but it functioned as the community Post Office for many years. The Clock Tower is designated under the Ontario Heritage Act and remains a prominent landmark on Newmarket’s Main Street.