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New Horizon takes over major Burlington waterfront condo project
(Hamilton Spectator, Meredith MacLeod, May 20)

Jeff Paikin is building his new home — and those of about 150 of his neighbours.

Paikin, a partner in Hamilton-based New Horizon Development Group, bought a luxury waterfront condo last year in an ambitious proposed development in Burlington. It would be the perfect empty-nest home for him and his wife.

Then he got a call in January: did he want to build the project?

The original builder, Markham-based Mady Development Corporation, has run into financial problems with projects in Barrie, Markham, Scarborough and Waterloo.

Paikin took over Mady's position in a development partnership on the 0.7-hectare, block-long property between Elizabeth and Pearl streets just east of Brant. Plans call for a 22-storey condo tower, a seven-storey condo and a four-star Delta hotel. There will be a courtyard and small retail shops designed to allow for public access to the waterfront trail.

"The design is so fantastic and the location is probably the No. 1 location in all of Ontario, if not Canada, as a place to live."

The $210-million project has virtually all its approvals in place and about half the units have been sold, says Paikin. He expects construction will begin at the end of the year.

Prices start at about $400,000 and climb to about $3.5 million.

Read it in full here.