With soaring home prices in Toronto, home buyers and investors from across the GTA are looking to the city of Mississauga for its unparalleled value. Located less than 30 kilometres west of downtown Toronto, Mississauga boasts world class shopping and entertainment venues, and a number of major infrastructure projects are currently underway. The booming local economy is home to several multinational, Fortune 500 companies that range from pharmaceuticals to auto parts. These industries are supported by the strong presence of skilled and educated workers who reside in Mississauga.
Prospective homebuyers are poised to reap the benefits the city has to offer as they realize just how far their dollar can stretch in the Mississauga housing market. New developments like Edge Towers on Hurontario Street offer much larger units for the same price as units in Toronto. This gives both end users and investors an advantage since larger condos typically have a higher return on investment than studios and one-bedroom suites.
“A purchaser or investor can buy a two bedroom plus den in Mississauga for the price of a one bedroom suite in downtown Toronto,” says Scott Davie, President of Davie Real Estate Inc. “Two bedroom units are simply more profitable than one bedroom units and larger condominiums are known to attract higher earning, more secure tenants.”
Priced from the mid $300,000s, the project’s collection of floorplans include an 880-square-foot two bedroom with a den complete with south west facing, unobstructed park views. The premium corner unit opens onto a cozy and functional den space and features plenty of natural light through floor-to-ceiling windows. A three-piece guest bathroom is situated beside the second bedroom, while the master bedroom sports a luxurious ensuite and walk-in closet. Homeowners will love to entertain in the large living and dining area, which overlooks the gourmet kitchen equipped with a peninsula and breakfast bar that seats four.
When complete, the master-planned community by Solmar Developments will consist of three high-rise towers, a new community green space, a daycare centre, retail space and over 1,200 residences. Designed by Roy Varacalli of Cusimano Architects, the buildings feature an elegant exterior design highlighted by staggered floor plates on higher floors, clean vertical lines and multi-level podiums at ground level.
The developer held a grand opening ribbon cutting ceremony in early November where Mayor Bonnie Crombie announced that it would be the first project planned around the city’s new Light Rail Transit (LRT) system. The LRT will run along Hurontario Street and bring 20 kilometres of rapid transit service, connecting Port Credit, Mississauga and Brampton. And with 22 stops planned — including one at Matthew’s Gate and Central Parkway — residents of Edge Towers will have easy connections to GO Transit, MiWay Transit and Brampton’s Züm bus.
Residents of Edge Towers will also be within walking distance to a wide variety of local amenities including Canada’s second largest shopping centre, Square One. The retail complex houses over 350 retailers like Holt Renfrew, Simons and Harry Rosen and hosts over 24 million visitors annually. Also in the neighbourhood is the Art Gallery of Mississauga, Living Arts Centre, Celebration Square, Whole Foods and Mississauga City Hall.
“Today, buyers are very sophisticated,” says Benny Marotta, Founder of Solmar Developments. “They want a luxurious place to live that comes with all the conveniences that they deserve and they want value for their money. Edge Towers offers a high level of luxury and value.”
To learn more about Edge Towers, be sure to register online and visit the newly opened sales centre and designer decorated model suite located at 24 Elm Drive West in Mississauga.
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