Why is Mississauga a breath of fresh air for new condo buyers? Mississauga was largely built by newcomers to Canada
By Tracy Hanes
The Greater Toronto Area’s thriving condo market is primarily being driven by wealth and lifestyle factors.
Savvy GTA buyers have realized by investing just 15 percent as a deposit on a new pre-sale condominium, they can leverage the entire value of the condominium and earn a return on 100 percent of its value, without having to carry the property or have to deal with tenants.
New condos have typically earned purchasers $100,000 to $250,000 in a relatively short period, from initial deposit to when the condo is ready for occupancy. Even those who plan to live in their condo are building personal wealth and potentially, retirement financial security.
People are also purchasing new condos to enhance the quality of their lifestyle. End-user and investor buyers share similar wish-lists. They want a great location and superb architecture and design; proximity to transit and highways, desirable shops and trendy eateries; an experienced developer with a reputation for quality; superior finishes; a full complement of upscale amenities; and efficient, well-designed floor plans.
“When someone buys a better quality condo with superior finishes, they are happier living there and have pride of ownership,” says Scott Davie, president of Davie Real Estate. “From an investment perspective, you’re able to rent a suite for more money. Whether it’s an investor or end user, they’ll enjoy a higher resale and appreciation in value.”
Despite their desire for these desirable attributes, purchasers also want value. With downtown Toronto suites priced from $1,000 to $1,400 per square foot, smart buyers are looking to other locations that offer many of the same advantages without the high price rag. While new low-rise home buyers are opting to find more affordable homes in places such as Milton, Bradford, and Caledon, condo buyers’ preference is for locations where they can enjoy more affordable prices as well as a satisfying lifestyle and the convenience of public transit and proximity to highways.
Downtown Mississauga is becoming the location of choice for many discriminating buyers. It’s a comfortable commute by car or by public transit to downtown Toronto, though there’s no need to leave Mississauga to find all the pleasures of a sophisticated urban lifestyle. A prime example is Solmar Developments’ Edge Towers at 24 Elm Drive West in the heart of downtown Mississauga, within a short walk of extensive amenities including the Mississauga Civic Centre, Celebration Square, the Living Arts Centre, the Central Library, a Sheridan College campus, YMCA Centre, Playdium and Cineplex Cinemas. Davie’s firm is handling sales for Edge Towers.
The landmark development is steps from a new LRT that will be part of 20 kilometres of dedicated rapid transit between the Port Credit GO station in Mississauga to the Gateway Terminal at Steeles Ave. in Brampton. It is within minutes of major highways including the QEW, 401 and 403. The Mississauga Bus Terminal is a seven-minute walk away at Square One, the largest shopping centre in Ontario with world-class retailers including Holt Renfrew, Armani, Harry Rosen, and Rolex. Close by are hot spots such as Whole Foods Market, Bier Market, Earl’s, and Starbucks. Surrounded by restaurants, stores and services, Edge Towers caters to a live, work, and play lifestyle. The first 35-storey tower was well received by buyers and Edge Tower 2 is now selling at the VIP broker stage, says Davie.
Rendering of the Edge theatre.
Edge Towers have been designed by renowned architect Roy Varacalli of Cusimano Architects. Suites have been designed to maximize efficiency of space and include standard features such as 9-foot ceilings, premium wide-plank laminate flooring, frameless glass shower doors, upgraded baseboards, and kitchens with quality cabinetry, under-valance lighting, quartz countertops, and high-grade appliances. Dochia Interior Design is the designer.
Rendering of the Edge billiard room.
Solmar has recognized the changing market and realizes buyers want affordability along with quality. Tower 2 will have efficient floor plans, 492 to 721 square feet, in one bedroom, one bedroom plus den and two bedroom layouts, starting from the $300,000s. Edge Tower 2 has separate amenities from the first tower, including 24-hour concierge, guest suites, Wi-Fi lounge, fitness centre, media room, games room, terrace with fire features and barbecues.
Edge Tower 2 will resound with the extremely sophisticated Chinese real estate community, says Davie: “They know the importance of strategic locations, quality finishes and well-designed floor plans. They are the most savvy of all the ethnic communities buying and right now, account for up to 30 percent pre-construction sales in GTA.”
Solmar is a well-established builder with more than 30 years’ experience, known for its quality of construction and finishes. Its projects are distinguished by elegant interior designs and attention to details.
To register for Edge Tower 2, click on http://solmar.ca/mississauga-condo.php.
Savvy GTA Condo Buyers are beginning to notice the value, convenience, and lifestyle offered in Mississauga’s downtown core, next to Square One Shopping Centre.
The City of Mississauga predicts the largest population growth, by far, to be here, walking distance to world class shopping like Holt Renfrew, Harry Rosen, and Armani, just to name a few.
The City is building the LRT, a world class transportation network that will connect Peel Region from north to south, along Hurontario Street, and provide residents with rapid and convenient access to the airport, union station, or anywhere in the GTA, on the Metrolinx network.
The City Centre is at Hurontario and Burnhamthorpe and features trendy places like Earls, Bier Market, Whole Foods, and Starbucks; a major post secondary campus, Sheridan College; and cultural venues like the Living Arts Centre and Celebration Square.
Savvy GTA Condo Buyers are looking for an advantage.
Many have discovered theirs at Edge Towers.
Edge Tower 2 is currently selling in the VIP Broker stage.
Located just steps south of Burnhamthorpe on Hurontario, Edge Towers has:
• the best Mississauga location;
• walking distance to Square One and trendy restaurants;
• on the new LRT line and near highways;
• Built by Solmar Developments with a 30 year history of building quality;
• Designed by leading Architect, Roy Varacalli; and
• Superior finishes, building amenities, and floor plans.
GTA buyers will take advantage of an incentive package not seen in downtown Toronto:
• Free Parking*
• Free Locker
• Free Assignment
• 5% deposit this year (15% over 18 months + 5% at occupancy)
• Low Lot Levy Cap
• Ability to rent during occupancy
Successful VIP Brokers recognize the factors that will lead to their clients making more money and enjoying a superior lifestyle.
Clients who choose their new condo wisely will be happier and make more money.
Clients who are happier and make more money will more likely refer you more business, have a profitable investment for you to sell in the near future, and buy from you again.
If you would like to introduce your clients to the value at Edge T2, contact the Presentation Centre to acquire the digital videos, renderings, and brochure to personalize your advertising campaign.
Introduce your clients to the Edge T2 Designer, decorated model suite.
While other Agents are selling empty new condos, you will be selling the happiness and prosperity that comes with your client claiming their Edge.
Who isn’t going to buy happiness and prosperity?
With the successful sale of Edge Towers, Solmar Developments is beginning construction of Tower 1, the first of three Towers that are zoned to be built on the strategically located property that is just steps south of Burnamthorpe Road and Hurontario Street, in Mississauga.
After the successful launch and sale of the first 200 units at Edge Towers in Mississauga, Solmar Developments is now releasing the remaining 93 suites. This first release of the 30 new suite designs are on the 27th to 37th floor and the podium levels, and also include some terrace, oversized balcony, and Penthouse suites.
Benny Marotta, president of Solmar Developments, says, “We designed Edge Towers from the inside out. It was the design of the floor plans that determined the shape and size of the building. It has been our experience that condo buyers want an efficient interior plan and an elegant building design.”
And Edge Towers is certainly elegant with its art deco style. It is the first of three luxury condominium residences and was designed by Industry leading Architect, Roy Varacalli, of Cusimano Architects.
Edge Towers is located just steps south of Burnamthorpe and Hurontario, and Square One shopping centre, and will be a future Mississauga landmark that will be visible from downtown Toronto. The future Light Rapid Transit (LRT) is also just steps away from Edge Towers.
The 20 km LRT will run along Hurontario and connect Cooksville, Port Credit, Mississauga, and Brampton with both the Milton and Lakeshore West GO Train lines, as well as local links to MiWay, Brampton Transit, and Zum.
Scott Davie, of Davie Real Estate, the Listing Brokerage selling Edge Towers, says, “Convenient access to public transit is a key determining factor that savvy buyers look for in a new condominium.”
“With new condo prices rising to $1,000 to $1,400 per square foot in downtown Toronto, many buyers see the value in purchasing a two-bedroom or two-bedroom plus den condo in a prime Mississauga location for the price of a small downtown Toronto one-bedroom unit.”
Davie adds that, “two-bedroom condos are known to have a better return on investment and attract a higher earning, more established Tenant than one bedroom condos do.” This first release of 30 new floor plans at Edge Towers includes suites from 484 to over 1,300 square feet with a great selection of two-bedroom and two-bedroom plus den suite designs.
Benny Marotta believes that the comfortable sized, efficient floor plan designs and the better quality finishes and workmanship that Solmar is known for, will attract a higher percentage of end users to Edge Towers.
“People will be happier and will make more money in a building with more end users since there will be more pride of ownership from owners rather than tenants,” Marotta says, “and less competition when selling, since buildings with higher numbers of end users tend to have a lower turnover rates.”
“The higher quality of finishes and workmanship will also command a higher rent for investors; so everyone wins.”
Visit the Presentation Centre, located at 24 Elm Drive West in Mississauga. Along with the 30 new floor plan designs, there is a Designer decorated model suite to view. The Presentation Centre is open from 11 a.m. to 5 p.m. Monday to Thursday, and from noon to 7 p.m. weekends; closed Fridays.
Source: Condo Life