Barrie could be expanding at a faster rate than people think. Fortress Real Developments has submitted an application to Barrie City Hall’s planning staff, requesting to transform an existing tower full of office and commercial units, and turn them into residential condominiums. This proposal looks to modify Fortress’s Collier Centre.
This proposal has caused City Hall to call for a meeting to discuss the conversion project, and to determine if it is feasible to go ahead with the transformation.
The conversion plans are to be reviewed by the city’s planning and engineering staff by August 11th, tomorrow, in order to schedule a meeting with Fortress, the developer, on August 17th.
The request looks to add 113 additional residential condo units, on top of what has already been built, which is 82 units. Fortress took over the Lakeview Condominiums and Collier Centre back in 2015 when the original developer ran into some financial trouble. Being that Fortress’s business model is “primarily real estate development” it comes as no surprise that they have submitted an application to turn the space into condos.
By the end of next week, there should be more information available about the future for the Collier Centre. With Barrie increasing in population and the current real estate market as it is, the addition of more condos may be an attractive choice to attract more people to Barrie’s downtown.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
