What makes 8888 Yonge such a great #condo #investment? Find out why the Government is #investing $91 million in thi… https://t.co/9rIqeI5pek
In November of 2014 we put together an exclusive incentive package, in partnership with Insider Condo Club, that made for one of the year’s best investments. The 49 storey tower coming to Bloor and Sherbourne offered investors a great location, situated just blocks away from both the Yonge and Bloor subway lines.
Though somewhat marred by stigmas surrounding the area, the location makes for an excellent real estate investment. There is a somewhat quiet $1.1 Billion revitalization project about to get underway, with The Selby leading the charge. More than six new towers, rows of townhomes and revamped green space are set to refresh the neighbourhood and bring an injection of money and capital into the community.
Just after we held a private one-day sales event, the developer gave notice that the entire development had drawn interest from multinational investment firms and was subsequently sold to a North American Private Equity Fund in an unprecedented sale.
MOD Developments Inc
592 Sherbourne St, Toronto
bKL Architecture (Thomas Kerwin)
Storeys & Units
49 Storeys & 441 Units
*Dates and Information are subject to change
Rooftop Swimming Pool
Outdoor Lounge Area
Steps from both the Yonge and Bloor subway lines. Get anywhere in the city, fast.
6 new towers. 2,415 new residential units. $1.1 Billion in improvements to the area.
Lesser, older buildings in immediate proximity are trading at higher prices than The Selby.
The developer agreed to offer a two year leaseback program which guarantees you a healthy rental rate for two years starting on Occupancy. What does it mean? Cash flow.
What’s the only thing better than low maintenance fees? No maintenance fees. Fatten your bottom line and increase cash flow from year one as the developer gives you a cheque for one year’s maintenance fees.
Rent your unit for two years at a guaranteed rate of $3.30 per square foot. That’s more than 10% above the current market value. Rental guarantees are a staple element of sound condominium investing.
Since its founding in 2009, MOD Developments has grown to become one of Toronto’s most innovative development firms specializing in high-density development with a focus on architectural excellence, heritage preservation and city-building. It is our mission to create mindful development in Toronto that pays homage to our city’s rich cultural and architectural heritage while being a key contributor in the progression towards the city of tomorrow.
Tricon is a principal investor and asset manager focused on the residential real estate industry in North America with approximately $5.4 billion (C$7.1 billion) of assets under management. We invest in a portfolio of single-family rental homes, for-sale housing assets and purpose-built rental apartments, and manage third-party capital in connection with our investments.
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