Is the Landing at Little Lake development still in free fall?
Construction hasn’t started on the northeast Barrie residential and seniors project, which dates back a decade, and there are no indications it will be built anytime soon.
“They’re not doing anything,” said Fabio Testa, 61, from Acton, Ont., who put down $60,000 in 2018, on a condo costing more than $300,000.
“I go there almost every other weekend, drive by there. Nothing, nothing, nothing. Meanwhile, they’ve held all our deposits for all these years," he added.
Testa says he’s entitled to a certain percentage back, so for $60,000 down in 2018 he would be getting back $67,000 now.
Long planned are two buildings — a seven-storey, 137-unit (56 one-bedroom and 81 two-bedrooms) condominium project and a managed seniors retirement home of four storeys and 141 units.
The Little Lake Drive project is also to include an exercise centre, indoor swimming pool, spa (with a nail and hair salon), theatre, pub, library, sitting areas and access to the lake and surrounding natural area.
But no shovels appear to have moved earth on the Landing at Little Lake, and the property remains fenced, overgrown with vegetation.
A representative of the Landing at Little Lake was unable to answer questions and/or make comment by the deadline set by BarrieToday, an affiliate of BradfordToday and InnisfilToday.
Testa said he’s been getting mixed messages from the Landing Development Group since being told last September that if the project cannot be refinanced by year’s end, it would need to be cancelled.
A March 11, 2024 message from the Landing Team tells a different story.
It reads: "Since our last update, we have been in discussions with lending institutions to re-secure alternative construction financing. So far, the process has been very complex given the timing with the market conditions as well as the unique nature of our project. With that said, we have had good indications from our prospective lender and progress is being made."
“They keep coming up with the same lines, over and over,” Testa said. “I ended up emailing them saying, 'What’s going on? I want an update’.
“So basically they gave me the whole spiel of we’re still looking at the financing and all this crap. So basically there’s nothing going on.”
And Testa said he fears more is going on with the project.
“It’s been over five years now,” he said. “They sold us the place for $300,000 and change. Why would they build for $300,000 and change when they could turn around, give us all our deposits back, and they could turn around and say OK, they’ve got (the price) up to $850,000.”
The Landing Team message ends with: "We will continue to strive to complete the project and maintain open lines of communication. Please feel free to reach out with any questions or concerns."
The application, and council approval, for an official plan amendment for 10 and 20 Little Lake Dr., from general commercial and residential to residential and environmental protection (EP), dates back to early 2015.
As does the rezoning, at 10 Little Lake Dr., from general commercial to residential apartment first density with special provisions and EP, and at 20 Little Lake Dr., from residential first density to residential apartment first density with special provisions and EP.
The development’s site plan, for 10 and 20 Little Lake Dr., was received by the city in May 2019 and approved more than two years later in June 2021.
The City of Barrie’s development projects website says the Landing at Little Lake is fully approved.
A message to future residents in late December 2021 from Landing Development Group said it expected to break ground in the early spring of 2022, sooner if possible, on the project.
All new homes built in this province come with a warranty provided by the builder, according to the Ontario New Home Warranties Plan Act, which includes deposit protection.
Tarion, a not-for-profit consumer protection organization established by the Ontario government, ensures that new home buyers receive the coverage they are entitled to under their builder’s warranty. If a project and the associated purchase agreements are cancelled, and the purchaser’s deposits are not refunded by the vendor, a purchaser may submit a deposit protection claim to Tarion.
