When investing in real estate, one of the key factors worth considering is the building’s location. This is part of the reason The Academy Condos, a new 26-storey condominium to be situated near University of Toronto Scarborough (UTSC), has been drawing significant interest.
The new residence by LeMine Investments Group and Devron Developments will bring 339 new suites to an area that’s currently unable to accommodate most students enrolled at UTSC. With a student population of more than 12,000, the existing student residence options can only house 769 first-year students. With enrolment expected to grow by about 400 students per year, there’s a growing demand for more housing options.
The neighbourhood is also going through a period of revitalization, with more investment and growth in infrastructure, transit and development. There’s the new shopping complex located at Morningside and Highway 401 and the future LRT expansion into Scarborough.
The Ontario government is also constructing a $248 million sports facility near The Academy, which will be built in time for the 2015 Pam Am Olympic Games. And that’s not all: a $65 million Environmental Science and Chemistry Building will become an permanent addition to the school in 2015.
Situated at Morningside Avenue and Ellesmere Road, the new condo will be a three minute walk from UTSC, and a one minute walk to Centennial College. For those looking to head downtown on weekends, Highway 401 is a minute drive away and the DVP is 10 minutes from the development.
And no location is ideal if not nearby some form of nature or greenery. Rouge Valley, an urban wildlife park, is just north of the project, with the Scarborough Bluffs to the south, and Morningside Park right across the street.
Suite prices start at $188,800. For more information, register online.