Live in the core of a growing downtown
Festival Condos is part of a large master planned community in Vaughan Metropolitan Centre, not a one off tower. Multiple high rise buildings, new streets, retail and public space support a true downtown feel over time, with more residents, more services and stronger transit. For investors, that district scale helps keep well located suites competitive as the area builds out.
Smart 1 bedroom layout that is easy to lease
- Approx. 452 sq ft 1 bedroom
- Bath count assumed at 1 (to be confirmed in the APS)
- Modern kitchen with open concept living area
- Defined bedroom sized for one person or a couple
- Compact footprint that keeps monthly costs and maintenance in check
- Sits in a rent band many single professionals and young couples actively target
- Size and layout that can help reduce vacancy risk when priced correctly
Amenities and daily convenience built in
- Fitness and social amenities for day to day use
- Concierge and a designed lobby environment
- Subway and bus connections in the VMC node
- Restaurants, entertainment and large format retail a short trip away
- Everyday needs like groceries, coffee and fitness within walking or quick transit distance
- Easy to market as a connected lifestyle, not just a square footage number
Assignment structure with clear numbers
As an assignment, you are taking over an existing builder agreement, subject to builder consent. The key items to review are the deposit already paid, any assignment fee, development charge caps, estimated maintenance fees and the occupancy and closing timeline. With those figures, you can build an Estimated Cash to Assume, map monthly carrying costs and compare them to realistic rents for similar 1 bedroom units before you commit.
