Word on the street is the Greater Toronto Area’s (GTA) new high-rise supply is trailing actual demand. One condo developer that’s ahead of the curve is Pemberton Group, which will introduce two new communities early in 2017, with more scheduled to follow later in the year.
Last month, the Building Industry and Land Development Association (BILD) announced that the new high-rise inventory dropped 35% in September 2016, compared to the same period the previous year. As of the end of September 2016, there were only 13,817 new high-rise units on the market across the entire GTA. That may sound like a lot, but there were nearly 2,500 sales that month. With sales numbers like that, it’s clear that supply isn’t keeping up.
Pemberton has been a reliable source for new condo options for a wide variety of buyers across the GTA, from Toronto to Mississauga, Maple, and Richmond Hill. Before unveiling the names of Pemberton’s two newest projects, let’s take a look at their current communities.
At Indigo Condos in Maple, now is your last chance to take advantage of preconstruction prices. Construction will be starting this year! The available one-bedroom suites are priced from the mid $300,000s and two-bedroom suites from the low $400,000s, but once construction starts, prices are sure to rise.
At Ten93 Queen West Condos in Toronto, only a few suites remain, including one-bedrooms and one-bedroom+dens. The available layouts range from 535 to 685 square feet with prices starting from the mid $300,000s. There are a few great opportunities for first-time buyers here looking to live in the heart of one of Toronto’s most artistically inclined neighbourhoods.
In Mississauga, Tower 2 at Downtown Erin Mills is now under construction. There is still a selection of suites available, but they are selling quickly so visit the presentation centre soon! Without a doubt, Downtown Erin Mills is one of the most stylish condos in Mississauga. Prices start in the low $300,000s.
SkyCity 2 Condos is also under construction in Richmond Hill. Located in the heart of Richmond Hill’s City Centre, there is a wealth of neighbourhood amenities at your doorstep. Phase 1 is sold out, and there are Phase 2 suites still available from the mid $300,000s.
Pemberton is hosting open houses on Wednesdays until the end of November for the new model for The Urban Townhome Collection at Bay and Bloor in Toronto. Opulently furnished by Lori Morris, trust us, The Devonshire is a must-see. The Urban Townhome Collection features residences starting at 2,682 square feet, priced from $2.4 million.
Pemberton communities coming soon
As the calendar turns a page and we move into the New Year, thoughts often turn to a new home. You’re going to want to be among the first to receive Pemberton updates, special invitations, and take advantage of attractive incentives.
Coming first is the community called Mills Square at Downtown Erin Mills, in Mississauga. This is the third building in a four-tower master-planned community, and it will be steps from Erin Mills Town Centre, Credit Valley Hospital, and many area amenities.
The other new community is a new exciting development for the Front and Sherbourne area, called Time and Space, which will bring a village-like atmosphere to Toronto’s thriving east end. The large development will take up the entire block at Front and Sherbourne, giving residents easy access to the St. Lawrence Market, Distillery District, and the Financial District.
For more information about all of Pemberton Group’s communities, visit pembertongroup.com.
You should also sign up for the Pemberton e-newsletter, which is issued quarterly! It’s a great way to stay on top of all the communities Pemberton has on the go.