Prestige condo for downtown a step closer
COLLINGWOOD — The long-promised mixed-use residential/commercial project is only a few months from becoming a reality as the sales centre for the Monaco Condominium development opened to some fanfare last week.
Some site preparation has already begun at the corner of Hume and Hurontario Streets after years of lying dormant.
The six-storey 127-suite building will sport units between 645 and 2,400 sq. ft. with prices beginning in the upper $300,000 range.
The commercial area measures more than 28,000 sq. ft. for commercial retail shops.
“On behalf of the BIA, we are ecstatic,” said Penny Skelton, president of the Collingwood Business Improvement Association. “If you listen to the provincial government and the county, they say we have to have intensification, we have houses but we don’t have that many condos. This is an opportunity to bring a lot of people and vitality into our downtown.”
The project has some powerful partners including Ian Wookey, president of Seniority Investments Ltd. who, with his father, is largely responsible for the redevelopment of Toronto’s Yorkville Village.
“What was so appealing about Collingwood is the historic buildings, which are a fantastic thing. This building is nestled within this incredible downtown, vibrant core,” says Wookey. “And my feeling was, when I was introduced to it, that this is a building that will enhance life in the downtown core.”
Mayor Sandra Cooper is relieved that the property is finally going to be developed.
“I supported the project back in 2005 when I was a young mother. Now, I am a grandmother and I am delighted to see the sales office open and site preparations begin,” said Cooper. “I am delighted to see that there will be a strong connection between the BIA and the heritage district.”
A construction start date will be determined for either late 2017 or early 2018 and occupancy is expected by the fall of 2020.