I was shocked when I received this price list.
Studio starts from $450,000.
One Bedroom starts from $570,000.
One + Den starts from $650,000.
Two Bedroom starts from $750,000.
10% deposit in the first year.
Another 5% in the second year.
A total of only 15% deposit until occupancy in 2028.
Where do you think this project is?
It is not downtown Toronto, obviously.
It is actually on the subway line.
And it is the Line 1 subway, the yellow line.
Yes, so you are paying Mississauga and Brampton prices, but you are getting a major subway location.
There is only one developer who can afford to offer this deal to you.
Let me show you the location first, then I will share the secret behind this special pricing.
If you still think the Vaughan Metropolitan Centre is a big piece of land with nothing, then you better stay for the next few minutes.
We are now looking north onto Highway 7 and Interchange Way.
The two towers under construction are part of the Festival project.
The project was launched for sale in 2020, when we were deep in the pandemic and it earned the title of Canada’s best selling condo project in the year.
The other two cranes on the right will be two symmetrical towers called the Grand Festival.
It was launched for sale in 2021 and again it was the best selling condo in our entire country.
The opportunity I want to tell you about is called Bravo.
Let’s check out the neighbourhood first, then we’ll come back to Bravo.
The biggest vision from the City of Vaughan is to develop downtown Vaughan, the Vaughan Metropolitan Centre.
This new downtown will be around 260 acres, with 100 acres on the north side of Highway 7 and 160 acres on the south side of Highway 7.
Developments started on the north side a few years ago because the subway station opened at the end of 2017.
As you can see, there are already 7 residential towers and 1 office tower.
Things are starting to expand outwards from the subway station.
And the city is going to bring the subway station over to the south side of Highway 7.
When you get onto the subway, it is only going to take 6 minutes to get to York University.
20 minutes to Yorkdale.
30 minutes to the University of Toronto.
And 40 minutes to the Union Station.
This is the Mobilio site with both condos and townhouses.
The development for downtown Vaughan will be mixed use, high-rise and low-rise residential, office space, retail, green space, schools, transportation…everything a downtown should have.
Except, you get to plan and build it with today’s technology.
If you were given the chance to go 15 years back and invest in a downtown Toronto condo, you definitely would, right?
When downtown Toronto gets saturated, businesses and people need to find new space to expand to.
And what’s better than a new downtown that’s accessible by the subway?
Now, let me tell you the secret about Bravo.
2023 has been a tough year for condo developers.
On one hand, many investors don’t have the appetite to invest because of the high interest rates.
On the other hand, construction costs are way up because of inflation.
If they just reduce the price to attract more investors, that may eat into their profit margin so much that it’s better for them to just cancel the project.
In fact, project cancellations are on the rise, so you have to be extremely careful when you choose the developer.
In this new downtown Vaughan, there is around 260 acres of land.
The developer Menkes owns approximately 100 acres, that’s 38%.
Must be a very powerful developer, right?
You bet, with 70 years of history.
Because they own such a significant portion of downtown, they are going to interconnect their buildings with an underground pathway, just like the PATH in downtown Toronto.
For example, there’s a 25,000 square foot supermarket in Grand Festival and you are in Bravo, you can just walk over there without a jacket in the winter.
Where else can you find an indoor PATH system other than downtown Toronto?
That’s downtown Vaughan.
Menkes will be building here for the next 15 to 20 years.
This is a master planned development, they cannot just pause because this year is a tough year, they have to continue building.
But what they can do is to offer the current project at an incredible pricing, like I said at the beginning, Mississauga and Brampton pricing at a subway location.
They can get this project going and make it up later with higher pricing because they still have so many buildings in the pipeline.
Other developers cannot afford to do this if they are just building a single tower.
So for us investors, we get this great opportunity because most people are scared away.
That’s why the best time to invest is when the market is down.
If you want to take advantage of this opportunity, you can schedule a call with me.