In just a few months, the development team in charge of the Collier Centre hopes to have tenants in their office spaces.
Questions about the Mulcaster Street building have lingered since the former developers ran into money problems. Fortress Real Developments has since taken over the project and says it's taken a lot of work to get it back on track.
“We spent a good four to five months just assessing the building, cleaning it up, bringing it into condition where we could really restart construction," says Mark Fogliato, director, acquisitions and portfolio manager with Fortress.
The office tower portion includes full floor offices and smaller spaces. Now that the condo is completely closed in, crews are working on interior framing, drywall and installing the elevators.
Condo owners are customising their units and are scheduled to move in by mid-January. Fortress says 78 of the 82 condos are sold.
Business leaders say what was once a site of disappointment now offers hope.
“Any healthy city's downtown is the heartbeat, the pulse of the city,” says Rodney Jackson, CEO of Barrie’s Chamber of Commerce. “If we have a healthy downtown core, with healthy businesses thriving down there, it's good for the whole city."
There are still some hurdles like no tenant for the 40,000 square foot, much anticipated grocery store. Fortress says it's in talks with some "higher-end" grocery chains and hopes to seal a deal in a few months.
Fortress is also named in a $26.5 million lawsuit that's been filed in court over the delays.
In a statement, Natasha Alibhai, brand and communications manager for Fortress, says they’re "extremely puzzled as to why we have been named in the statement of claim, and we intend to vigorously defend this action."
They believe the project will create enough value to repay the original lenders.
