Festival VMC – more than a stand alone tower

Festival Condos is part of a large master planned community in Vaughan Metropolitan Centre, not a single tower on its own lot. Multiple residential buildings, future retail, office and public space will support a more complete neighbourhood over time, with more residents, more services and stronger transit. For investors, that node level story helps keep well located suites competitive as the area grows.

1 bed plus den that works in real life

• Approx. 540 sq ft, 1 bedroom plus den
• 1 full bathroom, exposure and details to be confirmed in the APS
• Defined bedroom separate from the main living area
• True den that works as a home office, guest zone or extra storage
• Open living and kitchen area sized for day to day use without feeling cramped
• Extra flex space makes it easier for end users to work from home or host visitors
• 1 plus den format typically appeals to a wider tenant pool than a basic 1 bedroom

Amenities and daily convenience tenants actually use

• Fitness facilities and social/party spaces for real day to day use
• Concierge and contemporary lobby environment that photographs well
• Quick access to subway and bus connections in the VMC node
• Restaurants, entertainment and big box retail a short trip away
• Everyday needs like groceries, coffee and fitness within walking or quick transit distance
• Easy to market as a connected, amenity rich lifestyle rather than just a square footage number

Clear assignment structure and next steps

As an assignment, you are taking over an existing builder agreement, subject to builder consent. Key items to review are the deposit already paid, any assignment fee, development charge caps, expected maintenance fees and the path from interim occupancy through to final closing. With those numbers, you can calculate an Estimated Cash to Assume, map monthly carrying costs and compare them to realistic rents for similar 1 plus den units before deciding if the opportunity fits your targets.