There is “high interest” in the apartment project from potential buyers, but the fate of the current tenants is uncertain
A new condominium development project, planned at 1035 Mississaga St.W, will force a pair of businesses to find new homes.
Rack ’em Jack Billiards & Sports Lounge and the 5 Rivers Indian Cuisine restaurant are currently operating out of a building that will be demolished to make way for new apartments.
The operators of 5 Rivers own the property and are working with developers to bring the new condo building to the neighborhood.
“It will remain ours,” said Beljit Chahal, whose family owns the building and current property. Aurelia. “We will sell (all units of the new building) to the people. We have hired the builder, and he will make the building for us.”
The Chahal family bought the building in 2019, and opened their restaurant in November of that year. Chahal said family members are still hesitant about whether to continue operating their restaurant elsewhere once the existing building is demolished.
“We’ll look around,” he said, “(and if) we find something we can go to, but now it’s 50/50.” “(People) don’t want (our restaurant) to go anywhere.”
Chahal estimates that his family’s restaurant will remain open for the next two months before the bulldozers start operating.
Rack ’em Jacks did not provide a comment in time for publication.
The planned apartment building, called the Twin Lakes complex, will include 10 condominiums, four residential/business units and one commercial unit.
Realtor Asmita Raina of Best Advice Realty said the units are designed for professionals and families.
“The way we designed it with the architect and the builder… It should have both functional and residential units, as well as condominiums large enough to accommodate families. Usually, the apartments are very, very small and usually only of interest to investors.”
The three-story building will include one-bedroom units (plus den), two-bedroom units, and two-bedroom units (plus den). Its live/working units will feature 2+1 bedroom units on the upper floor, with lower floors including street access to be used as office space.
“These living and working units are designed in such a way that it is possible to have a soundproof door if you go up the stairs from the ground floor office,” said Raina. “Living and working units (will not be) a nuisance to the residents.”
Prices for units to be offered in Phase One range from $349,000 for the building’s single commercial unit to $669,000 for the largest two-bedroom unit.
All residences, ranging in size from 895 to 1,612 square feet, will include indoor parking, as will 2,700 square feet of living/working units.
Raina said the concept of living/working units started in big cities like Toronto and New York, and she’s seen a desire for similar spaces outside of major cities. She said that she had previously worked out of an identical home and believed that the concept of living/working was something that could be successful at Orillia.
“I have reached out to many buyers abroad in search of a place where they can live and work,” Raina said. “There are a lot of people moving from GTA towards Orillia and Barrie working from home. This is badly needed.”
Raina said the project so far has generated “high interest” from potential buyers.
The building’s first sales event will be held on June 9.
“We are launching phase one at the moment, which will only include seven suites that we will sell. However, now I am rethinking my decision, and we think maybe we should launch phase two as well.”
“There is an overwhelming response. People fill out the worksheet, send us IDs, tell us which unit they want us to block for them, and I only have seven units at the moment. It’s a great response.”
The mixed-use building will be built by DAND Construction and Consulting Services. Raina said the project permit application will be submitted to the city in the near future.