Fusion Homes buys 328 acres in Guelph

December 22, 2021



Southern Ontario-based Fusion Homes has purchased 328 acres in Guelph where the company plans to build homes for about 6,000 people in a massive new development.
The land, known as the Guelph Innovation District, has been designated “for a mix of employment, residential, commercial and natural heritage uses” according to a marketing brochure from CBRE. CBRE listed the site in April 2021. The property includes the former Wellington Detention Centre and the 266-acre Turfgrass Lands.
The City of Guelph, which has a shortage of residential building lots according to a 2021 survey,
has offered a number of incentives to help stimulate development.
“A Block Plan process document has been prepared to outline a streamlined approach for any purchaser to achieve optimal timelines in their development application process,” according to CBRE.
And submissions to purchase were received until July 2021. 
The site is largely undeveloped and bordered by Stone Road East, Victoria Road South and Clythe Creek, with the Guelph Junction Railway running through a portion of the property. It is located less than a 10-minute drive from the University of Guelph or downtown Guelph, and within 15 minutes of Highway 401 which leads to the Greater Toronto Area (GTA).
Guelph is a city of about 146,000 located on the western edge of the GTA in the Waterloo-Kitchener-Cambridge region which is undergoing major population growth. Waterloo is also one of Canada’s major tech hubs.
“I am incredibly excited and proud of the Fusion Homes team for our work to acquire the Guelph Innovation District,” said Fusion Homes CEO and founder Lee Piccoli in the December 16 purchase announcement. “This development will be transformational for the city, truly defying expectations of what community-building in Guelph can and will look like.”
Development plans for the site are in preliminary stages, but Fusion Homes envisions a master-planned development with a mix of housing types and entertainment, shopping and restaurants for a commercial component. Residential development is the first priority, the company said.
The sale value of the land was not released, but new 3,300-square-foot detached houses nearby in the Royal Valley development sold in early 2021 for $444 per square foot, or $1.25 million. New Royal Valley townhouses sold for around $800,000, according to CBRE.
The residential density proposed for the Guelph Innovation District is 75 homes per hectare (or about 30 homes per acre).
Fusion Homes was established in 1999. The firm has constructed more than 3,300 homes across Southern Ontario and has earned six Tarion Awards of Customer Satisfaction.