GTA Construction Report staff writer
MADY’s condo and office tower project near Barrie’s City Hall is moving forward and is on target for completion in 2014 and 2015.
The project includes a 38,000 sq. ft. Sobeys’ supermarket, along with a Bank of Montreal branch as well as office space at the northeast corner of Collier and Mulcaster Streets, formerly the site of another grocery store and a parking lot.
MADY officials have been quoted in published reports as saying the project is worth $60 million, and will generate $750,000 in annual property taxes for the city.
A MADY representative said that the BMO location is on target to be completed in June 2014, with the office tower and Sobeys scheduled to be completed in November that year. He said the residential portion, named LAKEview Condominiums, will be completed in February, 2015. Published reports say the condo building will have 82 units on eight stories.
The BMO branch will be the project’s cornerstone, at 13,020 sq. ft. Barriston LLP, Simcoe County/Muskoka’s largest full-service law firm, is expected to be the office tower’s major tenant, occupying 40,000 sq. ft. or four floors. The City of Barrie has taken one floor.
Additionally, published reports say there will be four floors of parking as well as retail space at grade.
The company was founded by Charles Mady nearly 40 years ago. It is one of the most active development companies in Ontario, as well as the 25th largest contractor in Canada, providing building services to institutions, retailers and other developers. The company currently has more than $1 billion of projects under development throughout Ontario.