Pleasantville Groundbreaking Marks New Step Forward for Major Real Estate
Project in St. John's

ST. JOHN'S, Newfoundland and Labrador, Sept. 17 /CNW/ - An official groundbreaking took place today to mark the progress made to date at the former CFB Pleasantville, as Canada Lands Company CLC Limited (CLC) works to re-develop the property into a vibrant new community.

"A project like this never happens on its own," said Grant Walsh, Chairman of CLC's board of directors. "CLC is delighted with the support that our work on Pleasantville has received from the general public, from City of St. John's municipal staff, and from local elected officials," Walsh said. Walsh spoke at the groundbreaking earlier today. The company's board of directors also met in St. John's, demonstrating its commitment to the project and to CLC's work in Atlantic Canada.

"Our Pleasantville project will bring benefits to all St. John's area residents," said Mark Laroche, CLC's President and CEO. "When completed, the new residential construction at Pleasantville will provide people living in St. John's with a variety of housing options near the city centre. The plan for the new community incorporates innovative features, including a stormwater management system," Laroche added.

Senator Fabian Manning, the Government of Canada representative at this event, stated that "the Pleasantville redevelopment project in St. John's will have a major positive economic and social impact on the City's future growth. Through CLC, projects such as this one demonstrate the Government of Canada's commitment to enhancing the growth of our cities in a sustainable and consultative manner."

"Congratulations to CLC for the progress made at Pleasantville to date. The company's efforts to create a new community at Pleasantville, on land once used for military purposes, have attracted much interest from residents of St. John's. I am pleased to have taken part in today's groundbreaking," said Dennis O'Keefe, Mayor of St. John's.

Canada Lands Company is an arm's-length, self-financing Crown corporation owned by the Government of Canada.  It purchases federal properties at fair market value, then improves and sells these properties in order to optimize their financial and community value.  It also holds and operates selected assets, such as the CN Tower in Toronto.  Visit www.clc.ca and www.cntower.ca to learn more.

For further information:

Gordon McIvor
Vice President, Strategic Acquisitions, Public and Government Affairs
Canada Lands Company
[phone] or [email protected]