Posted Oct 31, 2014, 1:42 PM
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Registered User
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Join Date: Mar 2012
Posts: 426
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I don't believe the development will proceed, at least not as proposed. I'm not sure if they were expecting most of the tenants to eventually need nursing care ( at extremely high costs ) as justification for the development. Unlike in the past, more boomers can likely afford apartments. I don't see the attraction of condos over purpose-built apartments.
In 10 years I'll be looking to decide what housing options will suit me. Will I stay in my house or move to condo or apartment? Condos are way too expensive for most seniors, I think. Even a modest pension with the sale of a typical house would allow a nice apartment, without condo fees. I think there's a market for purpose-built apartments, sort of like what's proposed for Kenmount Terrace (a poor location though). There a plot of land at the corner of Capt Whelan and Hamlyn Rd that would make an ideal taller development, GREAT view, close to store, roads, etc and shouldn't piss-off any neighbours.
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