{"id":9079,"date":"2021-04-08T14:38:41","date_gmt":"2021-04-08T14:38:41","guid":{"rendered":"https:\/\/www.canadianrealestatemagazine.ca\/junction-triangle-readies-for-rare-condo-launch\/"},"modified":"2023-11-10T01:40:27","modified_gmt":"2023-11-10T01:40:27","slug":"junction-triangle-readies-for-rare-condo-launch","status":"publish","type":"post","link":"https:\/\/www.canadianrealestatemagazine.ca\/news\/junction-triangle-readies-for-rare-condo-launch\/","title":{"rendered":"Junction Triangle readies for rare condo launch"},"content":{"rendered":"

There are very few new builds situated near four-way AAA transit intersections in the GTA, let alone in the City of Toronto, but House of Assembly by developer Marlin Spring promises to be one of the few condominium launches that can offer investors such coveted inventory.<\/p>\n

Arguably more than any other, the greatest fundamental from which condo investors benefit is AAA transit\u2014in the case of House of Assembly on Sterling Rd. in the Junction Triangle, it\u2019s near Dundas Station and the Bloor GO, which doubles as a Union-Pearson-Express (UPX) stop\u2014and with the ability to move as far north as Toronto Pearson International Airport or south to Union Station, west to Etobicoke or east to the Bloor-University line and beyond\u2014units will appreciate at a much higher rate than most of the city\u2019s other condo developments.<\/p>\n

\"A<\/p>\n

always increases rentability and price appreciation,\u201d said real estate broker and co-founder of Connect.ca Realty<\/a> Ryan Coyle. \u201cTransit adds an incredible volume of tenants because it attracts more people who want to live somewhere central without having to rely on their cars, not to mention pay for parking, and they can bypass all the GTA\u2019s traffic and reach any point in the city quickly.\u201d<\/p>\n

Moreover, House of Assembly is a master-planned development\u2014tentative occupancy for the 17-storey, 254-unit first phase is January 2024\u2014and that alone will accelerate its annual appreciation by as much as 20% compared to stand-alone developments. Yet, unlike typical master-planned communities that comprise thousands of units and, therefore, worsen elevator wait times and quality of life, House of Assembly should top out at around 650 units across three buildings, the second and third of which will be 10- and 14-16-storeys, respectively.<\/p>\n

Additionally, according to Erin Millar, vice president of sales and marketing at Marlin Spring, there\u2019s a scarcity of preconstruction and resale inventory in the neighbourhood, which, in addition to being desirable among renters and end users alike, is largely composed of larger single-family homes.<\/p>\n

\u201cIn a 500-metre radius, even a 1 km radius, of House of Assembly, there\u2019s negligible inventory available,\u201d she said. \u201cFrom a supply vs. demand perspective, there are only a handful of units available. If you compare the neighbourhood to other parts of the GTA, like Port Credit or the downtown core, where there are vastly more available units, it\u2019s the only game in town. If you\u2019re trying to get into the neighbourhood with a preconstruction unit, there are no other viable options and yet demand for the area is through the roof.\u201d<\/p>\n

In addition to having a 100 walk score\u2014itself a rarity so far out of the core\u2014and a parkette across the street, House of Assembly is already attracting attention from investors and end users, the latter of whom relish the prospect of growing families in such a placid part of the city. According to Millar, that\u2019s one reason the units were designed to be functional as possible, and spaciously\u2014because even for those who don\u2019t own, tenant demand will rival downtown\u2019s condos, especially with the in the next three years. Sixty-percent of the newcomers will belong to the economic class and that increases the likelihood that they will arrive with families in tow.<\/p>\n

\u201cThe supply of units hasn\u2019t been refilled because COVID-19 delayed launches last year, and with the amount of newcomers Canada is expecting in the next few years, House of Assembly will be one of the few completions in the city coinciding with their arrival.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

There are very few new builds situated near four-way AAA transit intersections in the GTA, let alone in the City of Toronto, but House of Assembly by developer Marlin Spring promises to be one of the few condominium launches that can offer investors such coveted inventory. Arguably more than any other, the greatest fundamental from […]<\/p>\n","protected":false},"author":6,"featured_media":27368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/9079"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=9079"}],"version-history":[{"count":4,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/9079\/revisions"}],"predecessor-version":[{"id":28754,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/9079\/revisions\/28754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/27368"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=9079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=9079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=9079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}