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"Up until the last 60 days, we had been sitting at 25 per cent sold, and since then, we‘ve jumped to more than 50 per cent sold. That rejuvenation is the result of the general market â€" lots of empty nesters are selling their traditional family homes." Invidiata says many of the builders he represents, along with other real estate professionals, believe the reason for this has a lot to do with the populaâ€" tion bulge created by baby boomers. He says there‘s a growing need for a new type of housing, which caters to the 55â€" plus set. "It was a hot topic at a recent CREA (Canadian Real Estate Association) meeting," he recalls, noting that an estiâ€" mated 80 per cent of the accumulated wealth in Canada is held by people age 55 and older. "These people are looking for more upscale accommodations, that are mainâ€" tenance free, and the demand is not just for condos. They also want to enhance their lifestyle, and be near the core of activity." The Towne Square development, for example, offers twoâ€"storey units which Invidiata says "give you the sense of a house, versus a condo." He cites another example of sales activity driven by this customer segâ€" ment: four luxury townhomes located at Thomas and Robinson streets downtown which were built by JEC Anderson in early 1993 sold for approximately $500,000 each. "The condo market was hardest hit (segment) during the recession, and iniâ€" tially suffered from bad press. They had overbuilt, so there was plenty of stock, but low user interest. Because there was lots of inventory on the market, prices went down." That trend seems to have reversed itself in recent months, he notes, judging from the example of the Towne Square, a 58â€"unit condominium project at the foot of George Street in the heart of downtown Oakville which was built in 1991. The units range from 750 to 1,800 square feet, and are priced between $129,000 and $289,000. recent phenomenon in local real Aestate activity has Christopher Invidiata very encouraged. The condominium market, virtually dead since the recession began, appears to be showing signs of life, says Invidiata, a sales representative with Re/Max aboutowne Realty in Oakville. Empty nesters seek new . hybrid housing type "We were surprised at how well they ADVERTORIAL FEATURE by Stephanie Henderson Restored with care and respect for the past, this (1835) home with large wing features: large living room with brick fireplace, large sep. dining room, family room with massive stone F.P. loft studio. Pine kitchen with builtâ€"ins, charming bdrms with dormer windows and library. All on nine wooded acres with pool and garage. $649,000. Charming turnâ€"ofâ€"theâ€"century brick farm house. Beautifully restored and set in an Olde English garden setting of mature trees and flowering bushes on 75.9 scenic acres with picâ€" turesque creeks and ponds. Small cabin, implement garage and bank bam with box stalls. View of escarpment. Minutes from ROYAL LePAGE E)11 Royal LePage Real Estate Services Lid. PIONEER LOG HOUSE Specializing in Country Properties for 21 years THE COUNTRY CORNER ince winrker* _ 878â€"8101 878â€"8101 388 Main St., Milton Spectacular escarpment estate. Carefully restored, 2 storey stone house with large architecturally designed wing added in 1976 following the same heritage in both design and decor as main house. Set among mature trees in a parkâ€"like setting on 91 scenic acres with pool, pool house and a picturesque bank barn. $695.000. \ This new idea is suitable for parcels of land that are five acres or larger, Invidiata argues, and could be grafted onto existing RO1, RO2, and RO3 zoning. The concept has already caught on in other Ontario communities such as London and Guelph, he notes. "There will be a major demand which could be met by something similar to the condominium communities that you find in the United States. There is security at the front gates, and a maintenance packâ€" age, but it‘s a house. People could sell their large homes, and move into a townhouse setting, but without stairs." Within Oakville, homes in newer communities such as River Oaks and Glen Abbey tend to be geared to famiâ€" lies, Invidiata says, but are less desirable to many empty nesters. He predicts "a phenomenal demand" for this new type of housing by the year 2000, and urges town planners to consider this when preparing for future development. "The demand is crying out for it, but there is nothing currently available in Oakville. People don‘t want to be disâ€" placed from the community. They need more choice here." Beautifully restored 4,000 sq. f. two storey stone frame Georgian with 2 large wings. Sat on professionally landscaped grounds with mature trees, large pool, decks, brick walkways, brick drive, historic log guest house, stable and paddocks. All on 154 scenic acres with mature bush and 3 ponds. Very secluded property. $895,000. Invidiata believes full fledged retireâ€" ment homes are too drastic a change for this type of buyer. A more recent response to this demand is The Westridge, a sevenâ€"unit enclave of freeâ€" hold townhomes currently under conâ€" struction on Forsythe Street, a stone‘s throw from Oakville Harbour. The units are priced between $498,000 and $700,000, and range from 2,500 to 3,800 square feet. Invidiata reports that six of seven have already sold. 4 "The units have nineâ€"andâ€"aâ€"halfâ€"foot ceilings, luxury appliances, unique layâ€" outs with double garage, and a grounds maintenance package. They‘re right on the harbor, and you can walk to shopâ€" ping. There‘s definitely a need for more of this type of housing." sold, considering the price range," he commented, noting that many of these individuals are buying homes where the quality is better than the family home they wish to sell. "Their kids are in university, one or more spouses is still in the workforce, and they are very active people. Their focus is to enjoy life and still be active in the community." CHRISTOPHER G. INVIDIATA Sales Representative RIVERBANK retreat â€" ideal for retired/exec. working couple. Waterfrontsprivilegcs, bird watchers paradise. Extended deck and énctune windows overlook wooden ravine. Steps to your own dock. Unique updated bungalow with fireplaces bright finished lower level. alk to GO train/downtown. S ppcintosELL $298,000 Everything a growing family needs for gracious living is here. Approx. 3,000 sq. ft. home upgraded with cmvgn rxgigouldinggs, ceramic tile in g'tchen foy%r. Mainâ€"tl‘ll%:g' family mosr?x with fireplgce and french doors leading to library. Master suite with double walkâ€"in closets and ensuite bath featuring acuzzi stepâ€"up tub. Private extended side yard â€" fully fenced o INVDMTA _ pRICED TO SELL $299,900 Raised bungalow situated on mature treed lot with a southerm exposure. Walkout to deck from kitchen dining room. Kitchen with white cabinetry. Hardwood floors under broadloom. Semiâ€" ensuite bathroom off master bedroom. Finished lower level offers family room with stone fireplace fourth bedroom. PRICED TO SELL!!! PRICED To SELL $219,900 366 Trafalgar R. 17