The Town of Newmarket has officially launched a bold collaboration with the Shorefast Institute for Place‑Based Economies and Choice Properties Real Estate Investment Trust to spark a fresh chapter of economic growth rooted in local identity. As of June 16, 2025, the partnership sets a shared mission: revitalizing Newmarket’s economy by harnessing community-led innovation, creativity, and local assets.

Why This Collaboration Matters

Shorefast’s global reputation was built through revitalizing Fogo Island, Newfoundland and Labrador—transforming the area from economic distress after the cod moratorium into a vibrant hub known for cultural tourism, craft, entrepreneurship, and community-owned enterprises
Choice Properties, already a longstanding property owner in Newmarket, brings in-depth understanding of the local real estate landscape and a commitment to applying place-based economic strategies across its broader portfolio
Together, the Town, Shorefast, and Choice are united in a strategic vision focused on equitable, inclusive economic growth that is responsive to Newmarket’s existing assets and community strengths

The Shorefast Model: Lessons from Fogo Island

To appreciate the potential impact of this partnership, consider Shorefast’s proven approach on Fogo Island:

Community ownership and governance Shorefast created enterprises in local hands, including fishing stages turned cultural spaces, guesthouses, artisan workshops, and global sales channels for local crafts.

Cultural tourism leadership Their flagship Fogo Island Inn became an international draw, supported by artist residencies and storytelling rooted in Newfoundland’s heritage.

Creative entrepreneurship Shorefast invests in makers, artists, and food producers, with geographically dispersed, small-batch operations developed for global markets.

That approach restored economic vitality while preserving local identity and now those lessons are being adapted to Newmarket

What to Expect in Newmarket

Summer 2025 kick‑off: Starting this summer, Shorefast will begin working closely with Newmarket, supported by Choice Properties, collaborating with local leaders, residents, and organizations.
Asset-driven strategy: The work is expected to focus on Newmarket’s unique qualities—arts and culture, local businesses, entrepreneurial networks, heritage sites, and community spaces.
Empowering local leadership: Central to the plan is empowering local entrepreneurs and non‑profits to build inclusive, long-lasting initiatives that reflect community voice and priorities.

Why Now and Why Newmarket?

The timing is strategic:

With the South of Davis Area Study (SODA) and Official Plan Review underway, Newmarket is pausing to align future land-use, branding, and growth towards its vision of being sustainable, connected, and vibrant through 2051
The Town is enhancing its Community Brand Strategy to position Newmarket as a destination for talent, creativity, and innovation—a key backdrop to launching a place-based economic initiative

Potential Lines of Exploration

While specifics are yet to unfold, possible avenues the initiative may explore include:

Creative placemaking, storytelling, and design-led initiatives that build on local heritage.
Economic incubators or maker‑spaces to support artisan businesses, start-ups, hospitality, and tourism.
Place-based events and festivals to connect residents and visitors with Newmarket’s identity.
Public‑private collaborations leveraging Choice Properties’ assets and real estate knowledge.

How This Could Benefit the Community

Expanded economic opportunities: New and diversified pathways for small businesses and creative professionals.
Inclusive growth: Supporting marginalized or under‑represented entrepreneurs within broader community revitalization.
Cultural vibrancy and identity: Elevating Newmarket’s distinct character and shared stories.
Replicable lessons: If successful, Newmarket may become a model within Ontario for place-based economic development.

Looking Ahead

The upcoming months should bring updates as the partnership turns from planning into action: community engagement events, pilot projects, and strategic planning phases will be critical.

Keep an eye out:

Town of Newmarket publications or Council Highlights for updates on initial workshops or reports.
Outreach from Economic Development staff as they launch pilot programs or public consultations.
Opportunities to participate via local business associations, arts organizations, or community groups.

Final Thoughts

Newmarket’s alliance with Shorefast and Choice Properties marks a strategic shift toward an economy built by the community for the community. It is not just about attracting investment—it’s about igniting local creativity, stewardship, and entrepreneurship so that residents themselves craft Newmarket’s future prosperity.

As Shorefast famously proved on Fogo Island, the result can be an unmistakably local, culturally rich economy that’s resilient, inspiring, and globally recognized. Newmarket’s residents, businesses, and creativity are now at the center of a transformative story in the making.

Reviving Local Economies: Newmarket Teams Up with Shorefast and Choice Properties