The Ontario Land Tribunal issued a hearing notice on Tuesday saying the City of Hamilton and Knightstone Capital Management II Inc have reached an agreement to approve a private student residence Knightstone is building in a private-public partnership with McMaster University.
Knightstone and the City of Hamilton both informed the Tribunal in early November 2020 they were very close to a deal. Later in November, McMaster and Knightstone filed a rare OLT appeal against the City claiming the City was refusing to grant site plan approval.
Disagreements between the parties resulted in the “very close” deal not occurring.
“From the conversation, the Member expected a quick resolution of the issue and expected a settlement in short order,” writes OLT Vice-Chair Gregory Bishop of last November’s events. “This was not the case and with the passing of approximately eleven (11) months from the date … the Tribunal Member has now been notified that the issue has been resolved.”
The settlement hearing will be conducted on Wednesday, December 15 by teleconference.
Note: The OLT was formerly known as the Ontario Municipal Board and the Local Planning Appeal Tribunal. For ease of reading, TPR refers to the tribunal as the OLT when referring to decisions issued under its previous names.