 |
 |
 |
 |
 |
 |
|
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|
|
TIME WELL SPENT As I drove north this past weekend, on my annual pilgrimage in search of the fall colours, I couldn’t help but reflect upon my most valuable and sustainable commodity. It surely wasn’t my bank statement decimated by the noticeable skid marks on my credit cards. It surely wasn’t my stocks and bonds portfolio shaken by world events beyond my control. No, it wasn’t a tangible asset measured on a balance sheet. I discovered my most valuable and sustainable commodity was time. In a world gone mad with change, when chaos is normal and instant gratification is never soon enough, time has become our greatest amenity. Success is really defined not so much by financial resources but by the freedom of time. As you and I re-evaluate our priorities and life values in the wake of 9:11 there is no doubt that time, as an asset will surge to the top of our “most valued” list. The impact of this re-evaluation will be noticed particularly in real estate. This tangible asset has the ability to enhance the time compendium. If capital is required to redefine lifestyle priorities then re-allocation of real estate assets may be the catalyst. The most obvious influence in an urban context has been the stampede to high-rise condo. Initially targeted toward the investor, entry-level buyer and young professionals the allure of downtown captured a more traditional market – the classic move down/cash out empty nester. This is not a new phenomenon but its level and depth of demand was surprising particularly for loft living in emerging, redeveloping neighbourhoods. The less obvious influence is a fundamental change in philosophy
about the demand for a second home. The consumer freed by technology
and re-evaluating time is now seeking the “other” home
not the second home. This phenomenon has been called “Reverse
Resort Living!” I will visit Toronto for a vacation and live
somewhere else. I will dispose of my large two storey single family
home, buy a small urban condo “pied a terre”, and invest
the capital where I can exploit my greatest asset, time. The beneficiary
of this reverse process will be Resort Lifestyle projects on the
fringe of urbania particularly in small town Ontario. My search for autumn leaves took me through Collingwood. The impressive and extensive redevelopment of Blue Mountain by IntraWest is capturing the Resort Lifestyle trend with significant results. A new village is being created at the base of the Niagara Escarpment just 90 minutes from downtown Toronto. The “other home” has never looked so good. The IntraWest initiative has created an avalanche of new development. Both Alpine and Craigleith Ski Clubs are developing adjacent lands. Nipissing Ridge by George Fleming has become one of the premier communities in the town of Blue Mountain and will soon launch a very inventive luxury chalet villa concept at the base of the mountain. The well-established developments of Lighthouse Point and Cranberry Village have produced record sale results targeting this very discerning and time sensitive consumer. Time is a scarce commodity. The development industry will continue to provide innovative and dramatic new communities that recognizes time as an amenity - and assures the consumer that their capital investment is time well spent! Keep Positive!
|
|
 |
 |
 |
||
 |