HBNG is pleased to announce the purchase of 80 acres of prime land in Norwood Township located just 20 minutes to the east of Peterborough. The $17 million deal will potentially add just under 500 low rise residential units to a high growth area with ever increasing demand for housing.
The Township is a growing rural community that provides an attractive blend of rural, village, and cottage living to over 4,000 residents who call the municipality home.
Between 2017 and 2018, according to Statistics Canada, the Peterborough census metropolitan area increased by 3.1 per cent — the fastest rate in the country. By 2041, the city is expected to grow by 32,000 residents from 2016 levels, making for a population increase of about 40 per cent.
These factors all contribute to a robust market attracting strong investor interest in the area.
UPDATE: HBNG has acquired an additional 50 acres of land in the immediate vicinity.