Marketing to kick off ‘River Walk’ condos

Marketing is about to begin in earnest for condominiums in the new “River Walk” development along Front Street here.
Out of the 36 condos for sale as part of the project, down-payments have been made on 14 before any marketing has been done.
The town has hosted several information sessions but has yet to actively go out in the community and pursue perspective buyers. Still, the $3,000 deposits to reserve a condo already have been coming in.
“We need to another 16 to proceed with construction drawings and construction,” noted Fort Frances CAO Bill Naturkach.
The project was initiated by the town in order to fulfill commercial obligations necessary for provincial Heritage Fund money for waterfront development by including a small commercial section.
Unfortunately for the town, the Heritage Fund sent notice last week that the condominiums would not qualify under the fund.
“It said ‘insufficient tourism benefits’ but that doesn’t hamper the condominiums project from proceeding,” said Naturkach. “But on the other side, the waterfront committee needs to go to ‘plan B,’ whatever that may be.”
The waterfront development committee will receive the news at its next meeting July 25 and have to look at alternatives.
But the condo committee, which will meet again July 31, may have even more success filling the development now that commercial component has been removed as some interested investors were hesitant because of the commercial factor.
“It makes it easier for the stakeholders,” said Naturkach.
If enough down-payments are received, the new building will go ahead on the corner of Crowe Avenue and Front Street. All but eight of the 36 units will have a view of the Rainy River.
The proposed building will be four floors, with one- and two-bedroom condos ranging in price from $90,170 to $152,147. The smallest unit is 715 sq. ft., with others ranging in size from 1,045-1,155 sq. ft.
“We had to reconfigure four of them from one-bedroom to two-bedroom because of the demand,” said Naturkach.
The building also may include a party room, exercise room, boat docks, underground parking, and elevators. All units feature a balcony.
“The lifestyles is what a lot of people are looking for–it’s home ownership without the maintenance,” Naturkach noted.
So far, investors include Fort Frances residents and people from as far away as Florida.
Marketing plans may include a sign at the development site, advertising, and letters to those who have expressed interest during initial meetings.
The development has been designed and will be built by Penn-Co Construction. Along with the Town of Fort Frances, sponsors include the Fort Frances Non-Profit Innovative Homes Inc. and the Canadian Imperial Bank of Commerce.