There aren’t many homebuilders in Canada that have been around for more than 130 years, let alone a family operation that has continued for six generations.

But Pratt Homes of Barrie is one such company, started in 1890 and still going strong today – not just building housing, but homes of all shapes and sizes, for homebuyers in various stages of the family life cycle.

We spoke with Cynthia Grassing, vice-president of sales and marketing, to get a sense of how Pratt has excelled over its history, to become “Barrie’s largest and most trusted builder.”

Let’s start with a general topic… how do you view the market these days?

The rise in interest rates has made qualifying for mortgage and owning a home a challenge for many. The recent pandemic created a housing market unlike anything we’ve ever seen before. There was uncertainty but also a shift in where people wanted to live, which resulted in a sellers’ market. This created inflated housing prices as people scrambled out of big cities and homeowners looked to make a profit. There was a “fear of missing out.”

The current state of the market is quite different. The past was a very intense sellers’ market, with high demand and limited supply, but now we have the reverse. Now we have a buyers’ market, with homes taking longer to sell than before. There’s a new “fear of buying too high.” The combination of higher interest rates and higher prices results in the housing market we are currently experiencing.

On a positive note, mortgage rates have risen but they will come down. Once inflation cools, mortgage rates will come down as a result. Today’s buyers have more time and less pressure to consider their options… and there are some good, affordable options to be found.

You recently launched Elements Condominiums in Barrie. How are things coming along there?

We launched Elements Condominiums in early spring of 2022, and it was well received. The demand for carefree condo living with a connection to natures elements resulted in a quick sell-out of our first building, Luna. This six-storey building is home to 96 units with a few select suites reserved for future models. Larger suites at a lower price point encouraged many from the GTA to consider a move to Barrie.

Construction of Luna is well underway, with homeowners expected to take possession at the end of 2024.
A combination of nature focused design features, architecturally designed suites for healthy living and a location that puts these units a short walk to Barrie’s South GO Station, encourage the continued sales of our newest release and the largest building, SOL.

What is it about Elements that sets it apart from others in the area?

The design of this project began with a strategic approach to tap into and harness nature within the home environment. This alone has set the community apart from others. The importance of being immersed and connected with nature’s four elements – water, fire, earth and air – for overall well-being is the deep-seated belief that has contributed to the unique aspects of this condominium project. The elements and features that will implement biophilic design will create a unique community for residents and visitors to enjoy. Foyers will include a mature live tree, water feature, fireplace, moss wall art and an upper gym overlooking the lobby, all surrounded by large windows. Some of the exterior features include outdoor waterfalls with social seating around gas fire pits, live Green roofs over the entryways, outdoor gym with fitness stations and a jogging track.

Once inside the condo suites, residents will enjoy a spacious, four-season solarium balcony enclosed in fully retractable glass, to be enjoyed year-round. Water filtration and air purification systems are bonus features that will support healthy living.

And what is it about Barrie that is drawing people these days? It’s quite a booming destination…

Barrie is a four-season destination and is part of one of Canada’s fastest growing cities, nestled between Toronto and Muskoka. Location is the key as to why many more people are considering Barrie for their next home. It’s the gateway to cottage country and right next door to Wasaga Beach, and Collingwood, while being conveniently located 45 minutes from the GTA. Barrie provides the charm and community feel of a small town with the urban amenities of a city twice its size and caters to those who crave an active lifestyle. Waterfront views, proximity to the GTA and GO transit are just a few of the added features that are drawing people these days.

Your tagline is “Barrie’s largest and most trusted builder”… Trust is everything these days… what makes Pratt the most trusted builder? What do you really excel at?

Pratt Homes has been building homes for more than a century in the Barrie and surrounding area. With a legacy of more than 130 years, the family is committed to building quality homes for every stage of the family life cycle; from young adulthood to retirement years. Our onsite design market, service lounge and in-house concierge service provide a trusted level of customer service throughout the entire homebuying journey and beyond. Our legacy allows us to extend cost savings to our purchasers in the forms of pricing, low deposit structures and low closing costs.

Pratt has been such an integrated part of the City of Barrie by making contributions in the form of various landmarks, such as the Maclaren Art Centre, Royal Victoria Hospital, 5-Points Theatre, art sculptures such as the Sea Serpent at the waterfront, to name a few – all made possible by the many homeowners who have trusted in Pratt Homes. By putting their trust in us, this means that they are also contributing to the vibrant community they call home for many years to come.

From what many of our homeowners tell us, Pratt Homes excels at making it easy to buy a new home, while understanding that it is the biggest purchase of a lifetime. Our legacy continues…

What’s next for Pratt Homes?

We have an incredible future awaiting us, with lots of condos, freehold towns and detached – coming soon.
In the meantime, we have some brand new move-in ready condos for sale right by the Barrie South GO Station, and next door to Elements Condominiums, which showcases our latest ingenuity.

pratthomes.ca

AND ON A PERSONAL NOTE...

How do you spend time away from the office?

I love going for walks with my dog Jack along the waterfront, catching up with friends over lunch or latte, losing myself in a good book, browsing through small boutiques with my daughter, laughing with my son, intimate dinners with my husband at fine restaurants… and having quality thinking time by myself – all blessings to me.

What’s on your reading list these days?

Three Sisters, by Heather Morris; Everyone’s a Theologian, by R.C Sproul; and Art of Home, by Shea McGee. I love books – anything historical, based on a powerful, true story or any interior design book with awe-inspiring spaces.

And on your TV binge-watch list?

I’m not much for TV, however I have a few goodies on my watchlist: The Crimson Field, Grantchester, and HomeFires.