Port Picton Homes has received approval to develop 870 new residences over five phases on an 80-acre site near Sandy Hook Road and the Loyalist Parkway, including town homes and apartments. The first phase will feature about 35 entry-level town homes priced between $375,000 and $450,000. Despite strong opposition from the Waring’s Creek Improvement Association (WCIA) due to environmental concerns over the nearby Cold Creek watershed, the project is moving forward.

The development faced multiple setbacks, including two deadlocked votes at the Planning Committee and Council. However, a revised application was presented in February 2025, incorporating further environmental studies and measures to protect the watershed, such as 50m setbacks around wetlands and Low Impact Development (LID) practices. The project will undergo additional peer reviews to ensure its environmental integrity.

The WCIA continues to raise concerns, seeking legal reviews and requesting a Cumulative Impact Study to assess the development’s long-term effects on the watershed, particularly in light of climate change. Despite these challenges, developer David Cleave remains optimistic, emphasizing the need for affordable housing while respecting environmental concerns. The subdivision will feature energy-efficient heat pumps, geothermal technology, underground parking, and public pathways to the Millennium Trail, with wetland and forest areas preserved.

While the development will contribute to the area’s growth, some, like Councillor Kate MacNaughton, remain cautious about its potential impact on the surrounding natural spaces, particularly the Millennium Trail.

The Bank of Canada has reduced its target for the overnight rate to 3%, signaling its commitment to supporting economic growth. The decision also marks the end of quantitative tightening, with plans to restart asset purchases in March to stabilize and modestly grow its balance sheet in line with economic expansion.

The Bank’s January Monetary Policy Report (MPR) comes with significant uncertainty, primarily due to the unpredictable impact of potential U.S. trade tariffs under the new administration. Without new tariffs, global economic growth is expected to remain around 3% in 2024 and 2025. While the U.S. economy benefits from stronger consumption, growth in the euro area is subdued, and China faces ongoing structural challenges.

In Canada, recent interest rate cuts are stimulating consumption and housing activity, although business investment remains weak. Employment has improved, with the unemployment rate at 6.7% in December, and wage pressures have shown signs of easing. The Bank forecasts GDP growth of 1.3% in 2024, with a gradual strengthening to 1.8% in 2025 and 2026.

Inflation remains close to the 2% target, despite some volatility. The Bank expects this trend to continue, barring the impact of potential trade conflicts. With inflation under control and economic activity gradually strengthening, the Bank of Canada is focused on maintaining price stability and monitoring the risks posed by U.S. trade policies.

The Government of Ontario has announced a $20 million investment in the rehabilitation of County Road 49 in Prince Edward County, as part of the Housing-Enabling Core Servicing Fund. This funding will support the road’s much-needed repairs, which are critical for local housing development, economic growth, and community safety.

Mayor Steve Ferguson emphasized the importance of federal support, noting that this project is crucial for the future of the community. The road, which serves over 6,000 vehicles daily, is a key route for the area’s tourism, hospitality, and employment sectors. The rehabilitation will help unlock over 2,000 new housing units on the east side of Picton over the next 10 to 15 years.

The total project cost is estimated at $52.3 million, including a 25% contingency fund. While the province is contributing nearly $20 million, the municipality has already allocated $7.8 million from its 2024 budget. However, $24.5 million remains unfunded, with officials urging the federal government to step in to cover this gap.

Opened in 1966, County Road 49 has reached the end of its lifespan and is often ranked among the worst roads in Ontario. The road connects Picton with the Bay of Quinte Skyway Bridge, a major entry point to the region. Rehabilitation is seen as essential not just for infrastructure but for enabling future housing and community growth.