Wasaga Beach Continues To Attract Visitors
Is the home of the world’s longest beach and every year it attracts many tourists and locals who want to take in the sun and play in the water. However lately many west side of each businesses have been struggling or close their doors altogether. This has hurt the local economy as well as Wasaga Beach real estate as a whole as news of the financial woes trickles out to people who normally choose this area for a weekend getaway or a summer vacation.
The problem stems from a development Corporation that owns many of the properties along the Wasaga Beach waterfront area. The Corporation has run into some financial trouble and not only owes money to the city in the way of property taxes but also owes the city millions of dollars that were supposed to be used for development of the area. The plan was to spend over $400 million in a massive development and revitalization project, however with the financial difficulties of late those grand plans are now in serious doubt. This could have an impact on Wasaga Beach real estate values since many property owners rely on a strong economy and vacationers to rent their cottages in order to generate extra income or even as their full-time business.
However despite the financial difficulties of this development project it should not dissuade people from visiting the Wasaga beach area. Many businesses are still open and it is business as usual for those who want to frequent the bars and restaurants in between breaks of sunbathing and swimming. There will be no stopping people who know and love the area and want to spend a day in one of the most popular beaches in Ontario. The fact that some businesses are having a difficult time of late is only a temporary situation and the promise of a hot and dry summer should bring people back to the area to spend money and help to boost the economy and help all of the business sectors as well.