Apart from size and number of bedrooms, every unit in Kitchener’s new 27-unit condominium development is exactly the same. Each unit at the Signature West development have been designed to maximize space and light, and the use of quartz, wide plank hardwood, and porcelain tile add some luxury to the comfortable and spacious units. All kitchens include a breakfast bar, high end stainless steel appliances and generously sized balconies.
“All of the units are very modern, with grey and white tones, very European-style cabinets and lighting, nine foot ceilings, and marble counter tops: top of the line everything,” says Kirin Singh, Vice President, ROi Developments. “It means that investors do not have to waste time picking our finishes, and colour schemes, all of that has already been done. It also means investors are not competing against each other - everything is the same across the board.”
Signature West has also paid close attention to the exterior design. Stone, brick and wood have been used to create a west coast-style streetscape. Signature West has made Heiman Street its home and its design will fit in perfectly with the area’s tree-lined and landscaped courtyards.
Due to finish construction in 2019, Signature West has a selection of one and three-bedroom units for investors to choose from. “All of the one bedroom units are all 690 square-feet, while the three bedroom units, which have three full washrooms, are 1,350 square-feet,” Singh says. “The one bedroom units are priced at either $279,900 or $289,900 and the three bedrooms are $479,900, and we are only asking for a deposit of 15%.”
Singh is proud of the work that the team has put in and is excited for investors to start reaping the benefits. Given the location and the units’ pricing structure, Singh estimates that investors can earn a 22% per annum return on their investment in the Signature West development.
“The one bedroom units come in at $422 per square foot and the three bedrooms at $355,” Singh says. “When you compare that to the likes of Mississauga, which is currently $750 a square foot and downtown Toronto - $1,200 a square foot, the potential rate of return in somewhere like Kitchener becomes clear.”