Sale of Collingwood Regional Airport officially closes

The sale of the Collingwood Regional Airport is official.

According to a news release issued by the town, the deal to sell the airport to Winterland Developments Ltd., officially closed on Friday.

The town had originally entered into the sale agreement with Winterland Developments Ltd., back in July of 2018, however, the deadline passed before the deal was finalized.

At a meeting on Feb. 28, Collingwood council members approved the execution of a revival and amending agreement to an original purchase and sale agreement to sell the airport to the development company.

Get daily news

Get the day's top stories from and surrounding communities, delivered to your inbox once a day.

Sign up for daily newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

According to the town, the agreement concluded the due diligence period, and the sale was finalized on Friday.

“We look forward to the investment and growth that Winterland Developments Ltd. will implement at the Collingwood Regional Airport,” Collingwood Mayor, Brian Saunderson, said in a statement. “A flourishing airport will have a positive impact on our region.”