Harmony Village Lake Simcoe project news conference

Marketwire release March 30 2012 

TORONTO – After more than a year of analysis and planning, the two companies are pleased to announce the acquisition of 7 acres of prime waterfront lands situated on Kempenfelt Bay in Barrie. The site has already been site plan approved for over 900,000 sq. ft. The partners anticipate an expanded vision to be developed into a master planned senior’s community on this premium waterfront parcel.

The project has received tremendous local support thus far and that is expected to continue with an architectural competition announced earlier this month. “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.”

Harmony Village Lake Simcoe is poised to become a landmark for the city of Barrie where residents can enjoy breathtaking views of the Lake and fully embrace the waterfront living lifestyle. “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.”

Fortress Real Capital and City Core will host an event at the site on Thursday, May 31st 2012 at 10:30am to unveil new signage and conduct an earth turning ceremony. Media is welcome to attend.

Fortress Real Capital: Fortress is an RSP eligible syndicate mortgage product that allows a consumer to invest directly into the proven market of Canadian real estate development and construction. Real Security. Real Returns. For information visit: http://fortressrealcapital.com.

City Core Developments Inc.: City Core has been in the development and property management business since 1976. They have successfully been involved in a variety of real estate development projects from Residential to Commercial, including – Single Family Housing, Multi-Family Condominiums, Retail Plazas, Office Complexes, Industrial Parks and Seniors Communities. For information visit: http://citycoredevelopments.com.

By Laurie Watt Simcoe.com Mar 08, 2012 

BARRIE- A vacant seven-acre site that spans Lakeshore Drive and Bradford Street could become an upscale seniors’ village.

Fortress Realty Capital and City Core Developments are purchasing the site that was to become Blue Sails. The fully approved development included two very tall towers – which required a height bylaw exemption for 24 and 25 storeys – along with townhomes,  and retail.

Listed by Forest Hill Real Estate, the site is on the market for $11,995,000.

Fortress Realty president Jawad Rathore said the deal to purchase closes at the end of April, but work on Harmony Village Lake Simcoe has already begun.

“It’s a really exciting concept. The idea is a full-service seniors residence, with a 25,000 to 30,000 square foot community centre. As part of the development, there could be everything from a mini-theatre to a seniors’ designed pool with wheelchair rails above and under water,” Rathore said. “

City Core currently is building Harmony Village in Toronto, and its portfolio also includes the Mozo Centre condos on King Street East and the Soho Centre on Queen Street West, both in downtown Toronto  

Rathore said the number of units has yet to be determined, although he projects it could be over 600. There would be one very tall tower, possibly 24 storeys, and four or five shorter buildings “with clear, unobstructed views” of Kempenfelt Bay.

The development would be marketed to active seniors looking to enjoy an urban lifestyle with all amenities. It would feature condos as well as assisted-living units.

The inspiration is Harmony Village in Toronto, he said.

“We need to build these right across Canada,” he said.

“Our population is getting older. The demographic over age 65 is growing 250 per cent faster than that under age 65. Seniors want more services.”