Housing project planned for Mt. Slaven school site

Orillia Packet and Times

An Orillia affordable-housing developer plans to build about 100 rent-to-own units at the former Mount Slaven Public School site.

“It’s a kind of affordable housing, but it allows young people ... to be able to have the opportunity of buying at zero down payment,” Moe Zadeh, owner of Circoflex Corporation, said Tuesday.

During Monday’s council meeting, city politicians directed staff to negotiate an agreement of purchase and sale with Circoflex Corporation for the sale of 50 Westmount Dr. N.

The decision was discussed in closed session.

Zadeh, president of Serenity Residential Corporation, has, with government funding, invested more than $28 million in affordable-housing projects on Barrie Road. That includes 60- and 103-unit apartment buildings. Phase 3, a 24-townhouse development, is in the planning stage.

Zadeh said more information about the Westmount Drive plan will be available later.

Monday, city council also approved a closed-session motion to direct staff to execute documents to release the current purchaser, Lowe Properties Inc., of its offer of purchase and sale, said Ian Sugden, the city’s director of planning and development.

“That purchaser had asked for a release because they did not want to proceed with the purchase any further,” Sugden said.

Asked what he thought of Zadeh’s plans for rent-to-own units, Sugden said the city and Circoflex Corporation have not yet discussed the company’s proposal.

In November 2011, council declared the Mount Slaven property surplus and authorized staff to solicit offers.

To date, three offers to purchase the property have fallen through, including the offer from Lowe Properties.

Photo: Image of the former Mount Slaven Public School on Westmount Dr.