MATTAMY - Lakehaven’s traditional freehold model home was unveiled in Innisfil, Ont. on May 24.
“We really want to be in the attainable housing business,” said Eric Malcolmson, senior vice-president of development at Parkbridge. “What we’re doing is, we’re evolving the thinking around what is land lease, what can it be and how can it be applied to help solve the housing crisis.” Phase one of Lakehaven, launched in May, offers 204 land lease townhomes and 317 freehold detached singles.
The shorter term worked well enough for seniors buying land lease resort homes from Parkbridge often on an all-cash basis. “We are increasingly focused on first-time homebuyers and being a private developer in what we call attainable, we say attainable because affordable often means government subsidized,” Malcolmson explained. “We’re not looking for government loans to build our project. We’re using conventional construction financing.”
Parkbridge often sells modular homes built off site for its adult lifestyle communities but its Lakehaven homes will be built onsite.