A patch of grass in Whitby is on sale for $5 million
Anyone who sees the listing for 0 Eric Clarke Drive might think it's outrageous.
It's an 87.23 by 96 foot piece of land in the middle of Rolling Acres subdivision in Whitby, ON that's been listed for $5,000,000.
I feel that no one in their right mind would think that's reasonable. Even the realtor admitted to blogTO that it was overpriced.
"It's not worth anywhere near $5 million," realtor Emilio Zingone said.
But owner and developer George Lysyk needed to make a statement to draw attention to this piece of vacant land.
As Lysyk and Zingone explain, 0 Eric Clarke Drive is a pretty useless piece of land in terms of building potential. In fact, you can't build on it since storm, sanitary, and water, AKA all the servicing that goes to Block 189 (a reference to city plans), is either on it or going through it.
But – and here's where it gets interesting – the Durham District School Board (DDSB) owns Block 189, which is 4.76 acres right behind 0 Eric Clarke Drive (also known as Block 188).
According to Zingone, DDSB has been trying to sell it for years without disclosing that it's unserviceable without Block 188.
"That property can't be serviced without this property. That land is worth nothing without this," explained Zingone.
Or as Lysyk puts it: "I own the keys to the proverbial car."
So when Lysyk found out it went back up for sale with a call for bids and without disclosing the servicing issue (again), he decided to take matters into his own hands and listed his piece of land for $5 million as a buyer-beware-type warning.
"I just hate their arrogance. That's why I went after them," he said.
And Lysyk told blogTO he, along with his brother and business partner, have tried to make a deal with the DDSB.
"Our plan was, if we could buy this from the school board, we would be able to build some townhouses and offer it to our partners at [Durham] region through their housing-focused shelter programs for the homeless ," he explained.
According to Lysyk, the site could fit 57 t0 58 street townhouses on the site, if the municipality allowed it.
But the DDSB allegedly ghosted.
"I've offered a partnership to the school board but they never respond," he said. "It's unfortunate because we have a housing crisis. I know people need places to live."
blogTO reached out to the DDSB for comment but they refused to comment or confirm the information.
So while the listing of 0 Eric Clarke Dr. is nothing but a way for Lysyk bring awareness to the DDSB's less than noble actions, he did tell blogTO "if someone shows up with $5 million we'll consider it".
In the meantime, we're here for the pettiness.
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