Harmony Village Project in Barrie
Speaking last night to Fortress Developments on Twitter, (username @FortressRDI ) I asked what was the most prominent development they had planned for the Toronto Area. After a minute or two I got my answer. Looks like Fortress Developments is part of a landmark project taking place in the northern limit of the GTA.
The project is called Harmony Village, a mixed use project aimed at retiring and near retirement baby boomers. The project with land acquired by City Core Developments is located in central Barrie right on the waterfront of Lake Simcoe. Without doubt the most fascinating aspect of the Harmony Village development is that the developer put the design bid out to architectural firms to propose the best use for the land. The designs submitted by Four firms including:
Core Architects
Raw Design
Diamond Schmitt
Hariri Pontarini
All the designs submitted by the firms combine ground level podium detailing with retail mixed grade below and above 3 to 4 towers rising from podium. This has got to be the largest residential project ever proposed for Barrie, and shows the extent of the growth which is occurring there now along with the growth at the northern reach of the GTA. The setting for the development provides a year round resort type feel for the residents which should become a major selling point in addition to the true retail offering which will also be afforded to the residents. When I first saw this development in the spring of this year, I must admit I was shocked at its size in particular its location in Barrie. I was unsure that Barrie had enough people that wanted this type of Highrise convenience lifestyle. But now on second thoughts it is apparent that with a solid design concept and master plan combined with the ambiance of Lake Simcoe on your doorstep, this might just end up becoming one magical place to live, and the convenience of Toronto down the road. I must admit, not bad, not bad at all.
The two Winning Designs were chosen as a pair.
Raw Design and Core Architects will mold their designs into one final vision for the project.
The Diamond Schmitt Architects
Getting a Mortgage and Mortgage Insurance through Empire Life for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at Empire Life include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from Empire Life is actually one of the major financing costs on home loans.
Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult
Empire Life : What is Condo Insurance?
Condo Insurance is required to protect your personal contents from theft or fire damage in your condo if these unforeseen events should happen you should make sure that you have adequate protection. Some items in your condo are will also be protected by your condo association insurance policy which covers the general building. The events that are covered by condo insurance include Fire, as well as Lighting. Other weather related causes such as Windstorms, and Hail are also covered. The major one that most people worry about is theft which is covered by condo contents insurance policies.
Toronto Condo Market Report – February 26, 2014
Toronto Condo Prices continue to trend upwards, as sales also move up with general improvement not only in the Toronto economy, but the nation as a whole. Condo sale prices have not increased to the same degree as detached family housing, due to new supply coming onstream. However fears of a condo bubble, have not proved accurate, as trends move to the upside. Average Home prices are still up in Toronto, and look like they will continue to rise for the remainder of 2014. Year over year, detached housing prices increased by over 14%. Just amazing.
What to Expect for Home and Condo Prices in 2015 in Toronto and the Greater Toronto Area The latest reports on the Toronto Real Estate market predict that the condo prices if left unsupported will fall, due to oversupply. However, this prediction has been the case for over 10 years now, and nothing has come to pass with regard to any major price drop even with predictions of a correction coming from the world’s largest and most respected financial institutions.
Toronto is on the verge of becoming a high end retailing mecca, and this will force up home prices as well as condo prices in the central core. Word that big US retailers like Saks, Nordstorms and Target are moving into the Canadian Space, and primarily within the downtown Toronto core is likely to increase the desirability of those areas with the best access to high end shopping experiences.
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