A look back at pre-sale less than 2 years ago...at The Independent on Main

Look at the attached eBlast I found in my old emails from April 9, 2015. Only if we had a crystal ball!!

  • $382,900 for a 583 sq.ft. loft!!
  • $475,900 for a one bedroom unit on the 21st floor!
  • 2-Bedrooms starting at $569,900!!
  • $1,399,900 for a 1581 sq.ft. Penthouse (or $885 per sq.ft.)!!!

These seem to be incredibly low prices based on today's market at The Independent at Main and Broadway. These units were offered a mere 22 months ago in a rennie pre-sale, in what many consider as a hot residential and commerical corridor -- South Main area, aka, Mount Pleasant.  

Only if we can turn back the clock....my Buyers and I would have scooped up the remaining units!

This development has appreciated nicely, as it's scheduled to complete in early 2018, in a fast growing communication, central location that has high walk, transit & bike scores!  

The concern these days by many is "will real estate prices drop"?  My response is real estate will always appreciate in this city...maybe not at the rate of the past 2 years as it was not sustainable, but I believe real estate is a longer term hold.  It's my opinion it will always be a good investment especially with the current .7% vacancy rate, the annual population growth from migration and immigration in our city, and pressures on density issues.

Feel free to contact me to find out where and when the next rennie pre-sale development will be.

Regards,

Phil

 

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Phil Chang
Personal Real Estate Corporation
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Phil Chang
Personal Real Estate Corporation
Phil Chang
Personal Real Estate Corporation