The Lambert-Smye Estate property, located at 394 Lakeshore Road West, is one of the few remaining intact early 20th century Estates along Oakville’s waterfront. The Estate home, designed by noted Oakville architect George N. Molesworth and constructed in 1938, sits roughly in the middle of the estate grounds which are approximately 3.84 ha (9.5 acres) in size. In June 2009, the Estate property was listed on the Town of Oakville Register of Properties of Cultural Heritage Value or Interest, because of its value as an example of Oakville’s historic lakefront estates, and because of its association with Fred Smye and the AVRO Arrow program.

In June 2010, ERA Architects was engaged to conduct an assessment of the cultural heritage value of the Estate’s landscape. The resulting report identifies attributes of the cultural heritage landscape.