News Articles

A Hull Of A Good Time

Lisa Van de Ven, National Post · Saturday, Jun. 12, 2010

'They come to play," says developer Eric Kerzner.

It's a simpler, more relaxing lifestyle: days spent languishing on the lake, boating or sunbathing, with not a power tool in sight. That's why cottage country is attractive to buyers, says Mr. Kerzner. Some buyers are also swayed by the less-traditional cottage experience (forget replacing broken screens), which is where amenity-rich, resort-style sites on the waterfront come in. Some buyers will eventually retire here.

With an abundance of projects underway on the lakes of Ontario's cottage communities, there are plenty of developers looking to give buyers just that -- and with last year's recession a thing of the past, buyers are returning to survey the offerings.

Gary Daniell says time to play is merely one of the benefits that come along with such communities. ( "Community" is the operative word here.) "It's not just a property in the middle of the woods -- there is a sense of community," says the vice-president of the Kaitlin Group.

Both Mr. Kerzner and Mr. Daniell should know. Both are developing lake-side projects. Mr. Kerzner's Sophie's Landing on Lake Simcoe in Orillia (by Signature Carleton) is largely attracting buyers in their 50s; phase one is completed, while the second and final phase is 85% sold. The developer has just released a new collection of homes in the second phase, most with water views, ranging from 1,000 to 4,200 square feet and priced from $369,900 to $549,900.

As the first phase is occupied, Mr. Kerzner has seen some of his buyers in action, using their lake homes as four-season cottages. "People move in and they meet so many friends," Mr. Kerzner says.

Mr. Daniell has three waterfront sites underway in Ontario's cottage regions. In Midland, there's Bay Port Village, next to the Bay Port Yachting Centre on Georgian Bay and featuring detached homes, as well as freehold and condominium townhouses; they range from 1,741 to 3,060 sq. ft. and start at $279,990. Kingsview on Balsam Lake is a gated community of 30 four-season cottages in the Kawarthas, ranging from 1,225 to 2,400 sq. ft. and from $379,990 to $649,990. Finally, Blue Shores in Collingwood features a Georgian Bay location and condominium detached homes sized from 1,042 to 2,227 sq. ft. and priced from $259,990.

"We get a real mix of buyers in our waterfront communities," says Mr. Daniell, although the Baby Boomer market makes up a large part of that mix, many planning on eventually retiring to their new recreational home.

It's a market familiar to Bruce Kerr at his Collingwood project The Shipyards, where plenty of Baby Boomers are buying now to enjoy the location part-time, but planning to make it their primary residence. The site is well into construction, with some phases already built and a waterfront promenade opening to the public on the July 1 long weekend. Condos and townhouses are currently available, ranging from 800 to almost 4,000 sq. ft. and from $260,000 to almost $1-million.

But buyers are looking for more than just a roof over their heads, Mr. Kerr says. "The lifestyle is just as important. That's as much a selling feature for us as the bricks and sticks," says the president of Slokker Real Estate Group, which is developing The Shipyards with Fram Building Group.

That means lakefront--The Shipyards is on Georgian Bay -- but the amenities throughout the area are just as important. At The Shipyards, there's skiing in the winter, as well as beaches and hiking trails close at hand. Port McNicoll -- a lakefront development on Georgian Bay near Midland -- features its share of amenities too, including skiing in the winter and boating and fishing through the summer (the waters are deep enough at Port McNicoll to accommodate a boat as big as a cruise ship). Site developer Skyline International Development is adding a few man-made amenities of its own, including a $6-million marina onsite with a spa, a restaurant and a bar. The site will also have boutique shopping when completed, while a-la-carte services such as grass cutting and grocery shopping can be taken care of on request.

This summer, Skyline will be releasing Georgian Quay at Port McNicoll, a collection of townhouses adjacent to the marina, ranging from 773 to 1,215 sq. ft. and from $299,900 to $424,900. There will also be another phase of 130 waterfront lots, starting from $300,000 for the lot alone (buyers have their own homes built to architectural guidelines). "In the next few years, Port McNicoll will become the Bridle Path or Forest Hill of Georgian Bay," predicts Gil Blutrich, Skyline's president and chief executive officer.

Amenities are just as key at Ontario's fractional developments. And for some buyers, a fraction of a cottage is the more sensible choice: a luxury purchase, sure, but practical for those who only plan to spend a short period of time there. "For families who've just come through a tough economic time, they want to get back to living their lifestyle and living their dream. And owning a quarter-share of a three-bedroom cottage ... allows you to do that in a way that you don't have the maintenance and the hassle that detracts from the cottage experience," says Walter Thompson, president of The GenerX Corp., developer of Touchstone on Lake Muskoka.

Like many of the other developers through cottage country, Mr. Thompson waited out the economic downturn without any changes to Touchstone's product offerings, and this year sales -which were slow but steady at the site last year -have picked up again at the Muskoka project. There are now 33 cottages built and occupied at Touchstone, with another 47 planned. One-quarter fractions at the site -for three-and four-bedroom cottages of 2,000 to 3,000 sq. ft. -currently sell for $270,000 to $475,000.

Another fractional development, in an entirely different location, is Frontenac Shores, on Lake Mississagagon in the Land O'Lakes cottage area, north of Napanee and three hours east of Toronto. The fractional development features luxury log cabins, with a collection of fractions recently released; five-week shares are priced from $78,900 to $99,900 for cottages of 1,289 to over 1,500 square feet.

"It's still a little bit of a hidden gem," says developer Pat Storms.