There’s plenty of fallout from the Residences at Five Points’ failure in downtown Barrie.
An email to condo buyers April 28, obtained by BarrieToday this week, said the project was being shelved after residential condominium sales failed to reach 85 per cent and construction financing could not be arranged, both by May 1.
There were to be 20 storeys with 208 condos with associated parking and ground-floor commercial uses. Community benefits required for this development were to include nine residential units provided at affordable rental rates for 20 years, and a public square of approximately 1,000 square feet.
Mayor Jeff Lehman said there are a couple of reasons why the project’s cancellation should not greatly affect downtown Barrie’s revitalization, which depends upon more people living and shopping in the area’s retail stores and restaurants.
“Given there are eight other projects proceeding in the downtown or within two blocks of it, I do believe revitalization through more residential development will happen regardless of what happens on this (Five Points) site,” he said. “I’m sure someone will take over the site, given the enormous strength of the real estate market in Barrie.
“I’m surprised, given how strong demand is, that this particular project is not proceeding,” Lehman added. “Two other residential buildings are already under construction within three blocks and others want to start building shortly.”
Given this site is at a prominent location right in the heart of downtown Barrie, and that city staff and councils did considerable work to get this project to the point where residential units could be sold, the mayor was asked whether he felt the city's time has been wasted.
“The city cannot make land-use decisions based on anything other than planning merits,” Lehman said. “The commercial viability of the project is up to the owner to decide.”
Despite several phone calls and emails this week, Advance Tech Developments president Joseph Santos could not be reached for comment by BarrieToday.
In the email to buyers, Santos said: “The project’s financial partner was unable to continue its involvement in the project," the pandemic lockdowns and restrictions “have hampered our ability to achieve meaningful additional pre-sales,” and “this letter shall constitute our written notice to you that the agreement of purchase and sale shall terminate May 1, 2021.”
The Residences at Five Points was thought to be one of a half-dozen residential developments considered key to downtown Barrie’s revitalization.
That list begins with the former Barrie Central Collegiate site — 34-50 Bradford St., and a portion of 125 Dunlop St. W. — where HIP Developments plans to build two 20-storey towers, one 10-storey residential building, a three-storey YMCA, a semi-public urban parkette containing the heritage facade of the former Prince of Wales school and a five-storey parking structure. In all, there would be 600 residential units on the nearly seven-acre property. Its final site plan still requires city council’s approval.
Meanwhile, SmartCentres is proposing to build rental residential towers of 41, 38, 35 and 25 storeys at 51-75 Bradford St. and 20 Checkley St., with as many as 1,700 units in total, along with commercial space and a hotel on 8.6 acres of property between Bradford Street and Lakeshore Drive. Council approved the rezoning and Official Plan amendment earlier this year. Site plans for its phased construction will also require council approval. The first phase is to be 25 storeys with 230 residential units and 145 hotel rooms.
Then at 39-67 Dunlop St. W. and 35-37 Mary St., Barrie Waterfront Developments is planning a mixed-use, highrise project of two 32-storey residential towers with 495 units in its first two phases, including a six-storey podium with ground-floor retail/commercial uses and parking on levels two to six. The proposed development contemplates a pedestrian arcade to connect the Dunlop Street frontage with the Barrie Transit Terminal and the waterfront. It was rezoned for this use in 2019, but the project’s site-plan control application is still being reviewed.
Heading east, developer Revera is planning a 16-storey retirement residence of 314 units and ground-floor commercial at 9-17, 21, 23, 25 Owen St., and 47, 49, 51, 53 Collier St. There will be underground parking and 67 total parking spaces. The project’s site plan remains under review.
Shovels are in the ground for Lakhouse Lakeside Residence at 185-265 Dunlop St. W., the former Lakeview Dairy site. The 10-storey boutique, Scandinavian-inspired condominium project will sit alongside Barrie’s North Shore Trail. It’s to be a mixed-use building with 178 condominium units, 248 total parking spaces, and ground-floor commercial uses. Aalto Developments registered its site plan for the project a year ago.
And development plans keep coming in and around downtown Barrie.
Just a little east of the Lakhouse development, there’s a rezoning application for 217 Dunlop St. E., needed to build a 15-storey mixed-use structure of 41 residential condominium units, commercial space and a three-storey integrated parking structure with the potential for 113 spaces on half an acre of land between Sampson and Berczy streets, the former Cotty’s Cleaners site. The residential units are to be 2,200 to 4,100 square feet in size, with a penthouse of 7,400 sq. ft. A staff report to planning committee is anticipated for late summer or early fall 2021 for Barrie councillors to consider this rezoning application.
At 113 and 117 Bayfield St. and 6, 8 and 12 Sophia St. E., there’s also the planned development of an eight-storey apartment building with 108 residential units, 70 of them to be affordable housing. The property has been rezoned for this use and its site plan still needs to be submitted.
Also in the works, at 136 and 112 Bayfield St., 14 Sophia St. W. and 113 and 115 Maple Ave., is a rezoning application needed for the development of a 34-storey, mixed-use condominium building, with ground-floor commercial and eight townhouses, totalling 480 units.
At 79 Collier St., a 15-storey, mixed-use building with 126 residential units and ground-floor commercial space, together with structured and underground parking, is being proposed. Its site plan is being reviewed by city planning staff.
And at 19 Dundonald St., a nine-storey condominium project is proposed with 67 residential units and two levels of underground parking. It requires a rezoning application, which the city has not yet received.
