The Construction Source

JUNE 2021 That’s not the only new project PBMRealty has in development. Right now, the company is getting into the development space for the first time. Years ago, they acquired a property off Lake Simcoe in downtown Barrie, and they are now in the process of delivering a multi- unit luxury condo development there. That development – which is located at 217 Dunlop Street East – is a departure for PBM Realty and for Peter, personally. He used to say, “I’m not a developer, I’m an industrialist,” but now that’s changing. “I guess I’m becoming a developer,” he says. “We’ve had this property for almost 20 years. It used to be a dry cleaning establishment, but we found out after we bought it that it had been polluted. We’ve spent 10 years getting it clean and getting it approved. It’s been a long journey. We’re excited that it’s coming to a conclusion.” “It’s a great opportunity,” he adds. “It’s right on the lake – literally, you can walk 20 feet from your condo and put your feet in the water – and it’s final bit of lakefront in the city that hasn’t been developed yet. After this goes up, everything else will either be owned by the city or there will already a building there. This is the last piece. I believe buyers will be excited.”