Rare Piece Of Lake Ontario Cuts Asking Price By $20M

The drop in price comes after the City of Pickering made two unsuccessful bids on the Frenchman's Bay property.Anyone hoping to own a slice of Lake Ontario might be happy to know that it just became a bit more affordable — well, affordable in the relative sense.

When the Frenchman's Bay listing first came on the market, the City of Pickering expressed interested in purchasing it, along with the neighbouring 591 Liverpool Road — a six-acre commercial property housing the bay's marina service which was listed concurrently for $20M. Whatever buyer does pick up the property will get to own a rare piece of history. In Canada, bodies of water are typically owned by the Crown, but back in 1853 — 14 years before Canadian Confederation — Queen Victoria gave royal assent to an act incorporating Pickering Harbour Company, thereby giving the company the deed to Frenchman's Bay, which included ownership of the land underneath and out into Lake Ontario.

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