Long story short, the city cannot afford to ignore this problem. And it’s for this reason that the provincial government just announced more than $150 million in additional funding for the planning and design of the new subway line. In total, the city estimates that this project will cost $3.2 billion and take 13 years to complete.
Now I know 13 years sounds like a long time, but as buy-and-hold investors, this is an amazing opportunity.
The old saying “he who hesitates is lost” is especially true for major infrastructure projects like the Relief Line. It’s been announced. It’s funded. It’s needed. So how can you take advantage of it?
RC3 is your chance to get on board one of the most exciting development projects in the city. Nestled between the Don Valley Parkway and the Gardiner Expressway – the West Don Lands – the project is already located in a transportation hub. The property will be just seconds away from the major traffic veins and arteries of Toronto.
The deal is sweetened even more with the Relief Line – the subway line will practically be outside your doorstep!
However, the $150 million announced by the government is a drop in the bucket compared to the amount of money already invested in the West Don lands. The City of Toronto has poured an incredible amount of money into the West Don Lands over the last few years. For the Pan Am Games alone, $1.3 Billion dollars were invested in the area.
Despite its prime urban location, RC3 backs on to the 18-acre Don River Park, now referred to as Corktown Common. The park is packed with trails for people to enjoy the great outdoors while being close to home.
RC3 is a brilliantly master-planned community. This stunning residential complex is complemented by mixed-use facilities nearby: the new Globe and Mail headquarters, Coca-Cola HQ, the new Bridgepoint Health Centre, and much more.
Moreover, is estimated that there will be upwards of 70,000 new jobs coming to the neighbourhood – something that is incredibly important for the long-term health of the area.
The entry prices for RC3 aren’t just reasonable, but by Toronto standards, they’re insanely reasonable. Starting at $259,900, you’re paying barely more than $550XXX / square foot. At that price in such a great location, you’ll be looking at some phenomenal rental returns in the coming years. Based on our analysis investors will receive 40% annual ROI including capital appreciation, and $520 a month projected cash flow. Not too shabby!
On top of the low entry cost, there are other benefits to buying early with the RC3 development. You can now get up to $5,000 off the purchase price, and they’ll even throw in free assignment and locker.
The occupancy date for RC3 isn’t until November 2017. That means there’s at least a year and a half for your property to appreciate before you even have tenants in there. Click here for our popular article on the benefits of buying pre-construction.
Every week which brings us closer to the completion of the Relief Line, will mean a little more appreciation for you.
Good luck, and please get in touch with us for more information about this opportunity.
Matt Elkind, CoFounder CONNECT asset management