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Massive North Barrie Crossing development moving forward despite financial setbacks

Mar 13

BARRIE - What's helping drive the $42-million road project near Barrie's Duckworth/Cundles corner is a commercial/residential project in the works for nearly a decade.

North Barrie Crossing could be worth nearly $100 million when its condos, grocery store, movie cinema, pharmacy, fitness centre and other retail outlets are built and operational on those 40 acres.

"Originally it was all one project, but we found that financing was almost impossible to do because of the sheer size of a 300,000 square-foot retail centre, and 200 condominium units, all in one construction loan," said Neil Miller of PenEquity, a Toronto realty company and one of the development partners.

He said the commercial/retail component of this project is ready to move ahead, and that could happen later this spring.

Loblaws/Zehrs, Shoppers Drug Mart, TD Bank, Tim Hortons, McDonalds, Cineplex Odeon and LA Fitness are prospective outlets.

Read the full article here.

 

Posted by: Littlewood Properties