Baby Boomers Downsizing into High Rise Condos

Written by Gordon's on . Posted in Blog

condos_screen_grab.pngOriginal Article from CBC Canada News
Posted: Mar 15, 2014 2:00 PM ET

Condo living isn’t just for 20-somethings anymore, at least according to the clients of one Toronto-area developer who are giving up the demands of owning a house in favour of a new building aimed at an older market.

Developer Jack Pong says construction of the Harmony Village condos —near Warden and Sheppard Avenues — was partly motivated by a recent poll which found one in six adults in Ontario is planning on moving to a smaller home in the next five to 10 years.

About half are considering a condo.

“If you have a house you’re sort of a slave to it, with repairs and maintenance,” said Pong.

Construction hasn’t started yet but Pong says one-quarter of the units have been pre-sold. The plans are full of amenities targeted at adults over 40, including a large theatre, a wine cellar and a community centre overseen by staff from a neighbouring seniors’ centre.

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