On Site: A mid-rise hits the right note and sells quickly
Special to The Globe and Mail
Published Friday, Nov. 30 2012, 12:09 PM EST
Last updated Friday, Nov. 30 2012, 12:46 PM EST
MOD’RN, BURLINGTON, ONT.
Builders/developers: Adi Development Group and Fortress Real Developments
Size: 445 to 906 square feet
Price: Low $170,000s to the mid-$300,000s
Sales centre: 1284 Guelph Line, just south of Centennial Drive. Open Monday to Friday from noon to 6 p.m.; weekends from noon to 3 p.m.
With nearly every unit sold out in 12 hours, the developers of a boutique condominium project in Burlington say they have tapped into the desires of style-conscious young professionals such as themselves.
The principals of the local development team, Adi Development Group, plan to live in the modern mid-rise themselves, along with the design-savvy buyers who scooped up a majority of the 78 units during the grand opening this month.
“We were 95-per-cent sold in 12 hours, so it went really, really well. The market really reacted to the product that we put out,” says chief executive officer Tariq Adi, who, along with brother and partner Saud, is eager to move in upon completion in August, 2014.
The main draw to this four-storey midrise, which will be co-developed with Fortress Real Developments, is its modern, urban design.
Icon Architects devised a glass, onyx brick, natural wood and stone exterior with striking lines and angles displayed on Guelph Line, north of the QEW, just a 30-minute drive west of Toronto.
“Buildings that are smartly designed, efficiently laid out and are in an already established, mature community is key, and that’s new for Burlington because a lot of the development in Burlington that does happen is typically low-rise stuff that’s urban sprawl,” says Mr. Adi.
“There are a lot of people in that demographic between 30 to 45 who would love to stay in Burlington if they had the option to.”
Contemporary style will also permeate the fireside lobby, a social space with private dining and a rooftop terrace overlooking Lake Ontario.
For privacy, there will be balconies and patios for each unit. “Our ground floor units have big patios,” Mr. Adi states. “One of our ground-floor units has a 2,000 square foot patio.”
The interiors of these one- and two-bedroom suites will also benefit from open concept plans with nine- and 10-foot ceilings, wide-plank laminate floors, granite counters and Energy Star appliances.
“That’s all stuff that would typically be an upgrade in Burlington, but it’s coming as standard at Mod’rn,” Mr. Adi adds.
While their style influences come from metropolitan cities, the developers have lived and travelled worldwide and they are happy to anchor themselves in Burlington, which was recently ranked the second-best place to live in Canada by MoneySense magazine.
“It’s got a great living standard out here, centrally located between Toronto, Oakville, Mississauga, Niagara region and the U.S., so what better place to be where you can get affordable living with high design that competes with things elsewhere,” Mr. Adi asks.
“Not to mention, you’re getting amenities in the area that will not only will appeal to a single person, but a family or young couple.”
The infill site is within walking distance to everything from schools, parks and trails to restaurants and stores, and a short drive to the Burlington GO Station, QEW and Highway 407.
Parking is part of the package, but lockers will be $3,000. Monthly fees will be 33 cents per square foot.
This is an article from the Globe and Mail. As a Brampton real estate agent, I found this very interesting and felt it would be good to share it here.