Before even starting construction, the team behind 155 Redpath Condos is already breaking records. Soon to be nestled in the Yonge and Eglinton neighbourhood, the new high-rise is currently 70 per cent sold with 300 units sold in the past year. This makes it the fastest selling new condo project in the surrounding area.
Freed Developments and CD Capital Developments have collaborated together to ensure the new residential tower meets the needs of end users and investors alike. Take the 155 Redpath’s Rental Guarantee program for instance. The unique program ensures homeowners will receive rent payments after the closing date for a fixed period of time (about two years) even if they’re unable to secure a tenant.
“We’re removing any risk a purchaser might feel is there,” said Matt Young, Vice President of Development for CD Capital Developments.
“Many of our buyers want to know that if circumstances changed and they decided to rent their unit out, they will be cash flow positive and make money on day one. A lot of projects will never be able to offer that.”
Another big draw that has people flocking to the development is its location. The vibrant neighbourhood is already bustling with activity (read: scores of restaurants, shops and a few movie theatres), and that’s before you account for the new LRT line currently under construction.
“Buyers know there is a lot of value about to be created and want to be exposed to that opportunity,” he said.
“We relate it to Yonge and Bloor twenty years ago, where if you bought in that area at that time, you did extremely well. Buyers see the same opportunity with Yonge and Eglinton today.”
The new condo project will also inject the neighbourhood with a strong sense of design thanks to its artistic double-height lobby, rooftop pool and other amenities featured on the ninth floor.
Sales for available units start at $209,900 and suites range in size from 330 to 1,288 square feet.
For more information call 416 996 5428 or register online.