City Core Developments and Fortress Real Capital acquire waterfront property
After more than a year of analysis and planning, the two companies have acquired seven acres of prime waterfront lands situated on Kempenfelt Bay in Barrie, Ont. The site has already been site plan approved for the development of over 900,000 square feet of a master planned senior’s community called Harmony Village Lake Simcoe.
The project has received tremendous local support thus far and that is expected to continue with an architectural competition announced in May. “We are really excited about this project and we want the residents of Simcoe County to be as well,” said Jack Pong, president of City Core Developments. “The competition has been opened up to a group of architects country-wide and our goal is to create a village atmosphere that residents and locals alike can enjoy.”
“This project offers residents waterfront living at half the cost of doing the same in Toronto,” says Jawad Rathore, President and CEO at Fortress Real Capital. “Residents are still just a quick commute into the city while getting to enjoy a more relaxed lifestyle that affords them all the amenities of big city living.”