Most of the area was developed by the United States Military in 1941 and is the former site of Fort Pepperell. The fort closed in 1958, and in 1961 the land was transferred to the Canadian Government for use by theDepartment of National Defence. Many of the buildings the US Military constructed in the area have since been turned into government offices or residential units. Pleasantville is now being re-developed by Canada Lands Company (CLC) into a residential neighbourhood.
In 2006, Canada Lands Company, a federal Crown corporation, acquired the federal government’s portion of the land with the plan to redevelop the area into a residential neighbourhood. After public consultations CLC applied to the city to construct 958 residential units and 5800 sq. m of commercial space. The residential units will include single family homes, townhouses, duplexes, multi story units and an assisted living complex. The development also included a $101 million upgrade to the Canadian Forces Station which is located onside of the residential development. The city council approved the proposal in 2009, and progress began in 2010 on the redevelopment.