– June 2016 (4th last paragraph – Best Innovative Suite Design win for University Studios)
Rolling off the unprecedented success of University Studios, Podium Developments and Building Capital are getting ready to launch University Towns, a new collection of SmartTowns™ and large condo units in Oshawa.
University Studios sold so quickly due to the strategic location minutes from Durham College and the University of Ontario Institute of Technology (UOIT), and the innovate design of the SmartStudios™ that featured appliances, furniture, and fold-up beds that doubled as dining/work surfaces.
Strong demand led to the rapid selling of every unit at University Studios, an Oshawa condo development from Building Capital and Podium Developments that appeals to both students and investors by offering below-market pricing and a location in a higher-learning hub.
Given the project’s immediate success, the two builders are teaming up once again. This time, it is to build on their previous project’s innovative model with the launch of the low-rise University Towns on the same stretch of Simcoe Street North.
Our industry recently celebrated the many city builders whose projects, designs and campaigns are not only providing new homes but working to grow and improve our communities in the GTA. At the 36th annual BILD Awards, we recognized 64 member companies for their excellence in sales, marketing, design and construction of new homes and communities. Prizes were handed out in 48 categories.
The success of Podium Developments and Building Capital's University Studios—which sold out in just two weeks of sales—has underlined the continuing demand for student housing in college towns throughout the Greater Toronto Area and beyond. With the project now sold out, Podium and Building Capital are teaming up once again to bring a new residential development called University Towns to Oshawa's Simcoe Street North near Durham College and the University of Ontario Institute of Technology (UOIT).
2021 Simcoe Street North - Oshawa Ontario
20,000 sq. ft - 19 unit - wood frame townhome complex
Opportunities available in: MILLWORK, FLOORING, PAINTING, TRIM, LANDSCAPING.
University Studios, a student-focused condo development with investor appeal in the higher-learning hub of Oshawa, has sold out within months of the project’s launch.
“The quick sales result comes from the nearby campuses,” said Saqib Qureshi, a partner at Building Capital, which alongside Podium Developments is bringing University Studios to the market.
At the beginning of this year, we announced that investors were showing a high amount of interest in Building Capital and Podium Developments’ new condo, University Studios in Oshawa, thanks to the innovative SmartStudios™. Well, it seems like the interest was even higher than we thought because the condo is completely sold out!
When Phase 1 opened, it only took two weeks to sell out. Then Phase 2 opened and it sold out in just two days! So why would a mid-rise, contemporary condo sell out so quickly in Oshawa? Because of the rising land values and the building’s close proximity to two post-secondary schools.
As a testament to the pressing demand for student housing in proximity to the University of Ontario Institute of Technology (UOIT) and Durham College in Oshawa, units have completely sold out for Podium Developments and Building Capital's University Studios. The first phase of the 8-storey Wallman Architects-designed student residence sold out in just two weeks, followed by the final phase, which sold out in an astounding two days.
With a rapidly growing student population and a vacancy rate of only 1.8% for student housing, Oshawa is enjoying an emerging identity as an education hub. Located near the University of Ontario Institute of Technology (UOIT) and Durham College, the Wallman Architects-designed University Studios is positioned to meet growing demand while introducing a new approach to student housing.
Saqib Qureshi has found his niche in real estate with Building Capital.
As Managing Partner at the boutique developer based in Markham, Ontario, he draws on his educational background as a London School of Economics PhD grad to provide housing solutions for the next generation of students and investment opportunities for homebuyers.
Among the projects Qureshi is currently involved with, Building Capital is working alongside Podium Developments on University Studios, a forthcoming student-focused condo community opposite the University of Ontario Institute of Technology in Oshawa.
Recently, Qureshi found the time to chat with us about University Studios, the GTA condo market and more.