Carp Airport

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The Carp airport project in Ottawa, Westcan developments is the ownership group (which is 25% controlled by Smycorp) who obtained 1000 acres in Carp Ontario. The site is mixed use with an operational airport 600 acres of residential and over 200 acres on industrial lands. This project was acquired in 2012 from the lender and subsequently the partnership has acquired freehold interest from the city of the airport (city had a buy back right).The partnership has built two phases of low rise housing completed to date as well as the servicing of those phases and we have sold numerous industrial sites to date. This is a very ambitious development that is subject to an oasis zoning in the city of Ottawa whereby we are able to develop these 1000 acres as the demand arrives.