It has been a long, long journey. But today, the Collier Centre got a new owner and is that much closer to becoming a reality.
Fortress Real Developments announced today that it has finalized the sale and will take possession of the property immediately. They expect to have workers on site within the week and hope to have the project completed in 12 to 14 months.
Late last week, the courts paved the way approving the sale of the Mady Collier Centre project that has been stalled for approximately one year.
In August, Fortress Real Developments' offer to purchase the unfinished property fell apart due to their inability to secure financing through the Laurentian Bank. They now look forward to finishing what will arguably be the best address for residents and retailers alike. The Lakeview Condominium Development is sold out, however, with Sobeys pulling out of their lease agreement, there is some work to be done in securing tenants.
Ellis Don, one of Canada's top builders, has been awarded the contract to finish the project. It's great news for Downtown Barrie.
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