When did you ever get a chance to buy pre-construction when the building is already up?
If you are an investor who wants more certainty with your investment, then Gloucester on Yonge at Wellesley Subway Station is for you.
The building exterior is all done.
The tunnel that connects the building directly to the Wellesley subway station has already been constructed.
So the builder has about a year to complete all the interiors.
At this stage of the project, delay is highly unlikely.
With occupancy only a year away, you can get your mortgage approval now so you won’t need to worry about it at closing time.
Normally if you want to buy brand new with only 12 months to completion, you would have to take over someone else’s contract with the developer (i.e. buy it via assignment).
Why do you need a lot of cash to buy an assignment?
While assignment is a popular and safe form of transaction, it is natural for people to feel uncertain because there is a large amount of cash involved.
Gloucester on Yonge is a “once a blue moon” opportunity where you can enjoy all “goods” and avoid all the “bads” of an assignment.
You can buy direct and enjoy the developer’s deposit structure:
|5%||in 60 Days|
|5%||in 180 Days|
|10%||at Occupancy Early 2022|
|75%||on Mortgage at Final Closing Mid 2022|
The original name of the project was Clover on Yonge.
Back in 2016, the developer Cresford launched this site for sale at pre-construction.
In late 2019, Cresford got into deep financial trouble and 3 of their sold out projects went into receivership at the end of March 2020.
The 1st project Halo at around Yonge & College is now owned by QuadReal and will be turned into a purpose built rental building.
The 2nd project 33 Yorkville is waiting for a new buyer to take over the site.
The 3rd project is Clover on Yonge at Yonge & Wellesley with direct access to the subway station.
Concord acquired the project, paid off its $180 million debt and is now rebranding the project as Gloucester on Yonge.
Concord is going to take Gloucester on Yonge and bring it to a whole new level.
Gloucester on Yonge is the 1st condo in Canada to have bacteria and virus mitigation technology.
Concord Biospace will deliver cleaner and safer indoor space through improved indoor airflow and filtration in high-traffic areas.
You can access all major entry points and high traffic common areas with your phone.
You can even call the elevator from your phone.
Call the elevator in advance so you won’t waste time waiting for it, that’s so smart!
Who doesn’t shop online?
There is no need to wait for the concierge to locate your parcel from a huge pile of boxes.
With the automated parcel collection system, you can pick up your parcels anytime, and without stress.
Nothing but the best!
You’ll be impressed with the quality of the standard finishes in Concord’s recently completed project Lakeshore.
It’s a suite inside a bridge! I’d say this is the coolest suite in Toronto, what do you think?
Dan Wong is well known for creating opportunities from every crisis.
He has gone through 3 very different careers, from a computer store owner to a computer hardware design engineer at a tech giant, to a real estate broker. He started each new career from a crisis and he became more successful than ever in each.
So when he started CondoWong Real Estate Inc., Brokerage, he wanted to create a real estate brand that not only survives but thrives through constant changes and uncertain times. And this mission is best accomplished by delivering proven results to our investors consistently.
CondoWong is powered by a full-service in-house team to help you land on a winning investment and take care of it throughout its lifetime, delivering the hands-free and rewarding investment experience that every investor dreamed about.
Every crisis is an opportunity. Changes are happening constantly, don't get too comfortable and don't be afraid of changes. Embrace Change. It's all about how you react in the crisis.
...if you're opportunistic, we actually have that once a decade opportunity to grow our wealth from a recession recover right now.
Why didn't the million job losses crash the housing market?