Description

The Township of Russell invested in preparing municipally owned land near Highway 417 for development in order to drive industrial growth. The Township invested in lot creation, roads, fiber optic internet, hydro and natural gas in its 417 Industrial Park. Lots are currently sold for $25,000/acre with a unique set of conditions which were designed to encourage a quick start development. The 2017 Eastern Ontario Industrial Land Study indicates that the value of nearby vacant industrial land is closer to $75,000.00/acre, however, nearby industrial land closer to this price point remains vacant. Future plans include the addition of industrial land and the connection of servicing the area. This type of park is intended to serve business and light to medium industrial uses that make relatively extensive use of land, and that do not require access to piped water and wastewater infrastructure. Specific permitted uses in the Industrial Park may include manufacturing and processing; warehousing and wholesaling of bulk products; transportation depots; heavy equipment and recreational vehicle sales, and service; automobile and commercial vehicle service centres, service commercial uses ancillary to the above other commercial uses appropriate or compatible with an industrial/commercial mixed us area or business park.

Community Statistics

17,833

Population

40.6

Median Age

$105,488

Median Household Income

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