LOCATION: Scarborough, Ont.
BUILDER/DEVELOPER Insoho Developments Corp.
SIZE 477 to 962 square feet
PRICE $184,900 to more than $338,650
SALES CENTRE Northeast corner of Kennedy Road and St. Clair Avenue East. Open Monday to Thursday from noon to 6 p.m.; weekends and holidays from 10:30 a.m. to 5:30 p.m.
CONTACT Phone 416-367-7303 or visit imaginecondos.com
The latest condominium by Insoho Developments Corp. will embody a downtown development with a sleek, modern design and chic common areas. But its east-end address means buyers will be less likely to blow their budgets buying a home there.
"People looking to enter the marketplace and looking a little closer to the core can get a unit here at say 25 per cent less than five or 10 minutes west," says president, Ron Herczeg.
"[So] we're one of the more successful projects of 2013 – we opened in the fall and are 50 per cent sold – and we're right on schedule to break ground late spring/early summer."
Situated at the corner of Kennedy Road and St.Clair Avenue East, the four-storey residence, called Imagine Condos, will offer one-bedroom plans starting around $200,000.
"You can get a condo – a locker and a parking space included plus all the amenities of the building – under $400 a square foot," Mr. Herczeg said. "There are very few buildings, if any, that can say that."
The developer also wants buyers to make the best use of their money – and time – by moving them in beginning next fall.
"The difference with this building – being only 96 units in a mid-rise building – is the time frame from purchase to occupancy is 18 to 24 months, which makes it very appealing to end users," Mr. Herczeg said.
"A high-rise building in comparison has a five-year time frame."
This infill development is one of the few being built in the community.
"We've done numerous projects in Scarborough, so we know what are strong up-and-coming neighbourhoods," Mr. Herczeg said.
For instance, there is no shortage of transit nearby with a light rail line in the works and a Scarborough GO station, two TTC subway stations and nine-bus routes in operation.
"We're just south of … Kennedy [station] …, which is going to be a major transit hub," Mr. Herczeg said.
"[Presently] we have a tremendous amount of TTC access, plus it's across the street from the GO, which can take you downtown in about 20 to 25 minutes."
The suburban mix of natural and manufactured attractions is another lure to buyers. "Within five minutes of the site, you have Lake Ontario and the Bluffs just to the east of us, an amazing ravine and trail system that takes you downtown, and you're close to the Rouge provincial park," Mr. Herczeg said.
"[Plus] on Eglinton Avenue – between Victoria Park Avenue and Kennedy Road – there's a tremendous amount of new big box retail."
The selection of plans will be as diverse as the local landmarks they're named after, but will generally have open principal rooms with nine-foot ceilings, stainless steel kitchen appliances and master bathrooms, as well as expansive windows and balconies punctuating the European-inspired brick facade.
"We tried to bring a more urban, downtown feel to the Scarborough marketplace," Mr. Herczeg noted. "Typically, you wouldn't see that in the Scarborough marketplace with a lot of glass, oversized balconies and neat, contemporary architectural features in the building."
When residents need extra space or excitement, they will have access to a rooftop terrace, party and fitness facilities.
"Because of its mid-rise nature, we're able to bring the building in at a reasonable monthly maintenance fee of 37 cents per square foot," Mr. Herczeg added.