Strong demand led to the rapid selling of every unit at University Studios, an Oshawa condo development from Building Capital and Podium Developments that appeals to both students and investors by offering below-market pricing and a location in a higher-learning hub.
Given the project’s immediate success, the two builders are teaming up once again. This time, it is to build on their previous project’s innovative model with the launch of the low-rise University Towns on the same stretch of Simcoe Street North.
Like University Studios, this new development is across the street from Durham College and the University of Ontario Institute of Technology, making it a convenient option for students looking for places to rent out.
And with prices starting at $299,990, University Towns mirrors the affordability that University Studios provided investors. Both offer housing far below the average selling price of a GTA home, which surged to $739,082 in April, according to the Toronto Real Estate Board.
University Towns, located at 1800 Simcoe Street North, will encompass 112 three-bedroom towns, a mix of both stacked units and flats — most of the towns will boast private access — and 22 three-bedroom condos.
These residences are sold fully-furnished, including an appliance package, so buyers don’t need to worry about setting up the unit as a rental. Meanwhile, buyers have the option of a two-year vendor leaseback included with their purchases.
Beyond these perks, the community will include the convenience of commercial space on site. And the planned amenities include a fitness centre, lounge, media room, party room, both storage and bike lockers, and a number of private study rooms. Topping off the amenities is an outdoor sky terrace complete with dining area.
Residences at University Towns will range from 922 square feet up to 1,092 square feet, and Varsity Properties will once again be managing the property.
To find out more about University Towns, register at www.universitytowns.ca.