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<\/a>\nUniversity Studios<\/a>, a student-focused condo development with investor appeal in the higher-learning hub of Oshawa, has sold out within months of the project\u2019s launch.<\/p>\n
\u201cThe quick sales result comes from the nearby campuses,\u201d said Saqib Qureshi, a partner at Building Capital, which alongside Podium Developments<\/a> is bringing University Studios to the market.<\/p>\n \u201cUniversity of Ontario Institute of Technology and Durham College currently aren\u2019t committed to building more student housing, so University Studios gives students the option to live near the campuses,\u201d Qureshi, who recently chatted with BuzzBuzzHome News about this project<\/a>, continued.<\/p>\n This demand for student housing helped the condo catch the attention of investors, who will have no trouble finding tenants to occupy the building\u2019s SmartStudios, especially since these were created specifically with students\u2019 needs in mind.<\/p>\n Each of the efficiently designed SmartStudios features a study area, European kitchen, private bathroom, and a combination table-bed. On top of that, the developers are also including the option of a three-year vendor lease-back with every one of the SmartStudios.<\/p>\n \u201cThe concept, to provide all facilities in a very compact studio suite size, has become an international reality in cities such as New York and San Francisco, and has now arrived in the GTA,\u201d says Oskar Johansson, director at Podium Developments.<\/p>\n The low price also played an important part in University Studios\u2019 early success, suggested Bernard Luttmer, also a director at Podium Developments.<\/p>\n \u201cAs an investment, at $149,990, University Studios was the best deal in the GTA,\u201d he said. \u201cThe units are fully-managed by Varsity Properties and offer a hands-off real estate property,\u201d he added, noting,\u201cIt\u2019s no surprise investors were quick to grab this opportunity.\u201d<\/p>\n