When it comes to innovative condo developments, the Durham region isn’t exactly the first place you think of, but that is changing with an exciting announcement from Podium Developments and Building Capital.
In early 2016, Podium and Building Capital will be opening University Studios in Oshawa, a new contemporary condo geared towards students and investors. The developers have recognized that Durham is becoming an education hub due to the popularity of Durham College and the recent expansion of the University of Ontario Institute of Technology (UOIT).
With a number of hospitals and the recently established Lakeridge Health Education and Research Network, the health and wellness industry is also booming in Durham. As a result, Oshawa is the third fastest growing city in the province; the population is diversifying, and there has been a large influx in international businesses and students.
All of this is great for the region, and Podium and Building Capital are now playing a big role in spurring the growth onward. University Studios will offer a 3-year Vendor Leaseback guarantee, which means you can invest and generate rental income in a carefree, hands-off manner.
To appeal to students, the developers are offering fully furnished SmartStudios™, which come with a “TableBed” (a dining table that doubles as a bed), a kitchenette with a fridge, stove, microwave, sink and undercounter dishwasher, a private ensuite bathroom, plank laminate flooring, and there are even USB outlets for convenient charging.
University Studios will feature many amenities, including a gym, a party room, a barbecue area, and a common area on every floor. There are also amenities geared towards students, such as group study rooms and meeting rooms.
Want to hear the most interesting part? Prices are starting at just $149,990! At this price, we wouldn’t be surprised to see parents of future or current UOIT students investing in the condo development.
Who knows, depending on the student, they may be able to afford a unit on their own! Even a first-time homebuyer who is currently renting in Toronto may see this as a good opportunity to invest some of their money in order to save up for a larger purchase down the road.
Other than the unique units and very affordable price point, the location in Oshawa’s education hub is pretty amazing. With the arrival of new businesses and more students, downtown Oshawa has seen a lot of growth in recent years and now features a number of shops, restaurants, bistros, and galleries.
As you probably know, Oshawa is located on Lake Ontario, so students and other residents at University Studios don’t have to go far to take advantage of lakeside living. There are many parks, bike paths, and picturesque boardwalks within a close proximity.
If you’re a student considering attending UOIT or Durham College, you and your parents should register for University Studios! If you’re an interested investor, you should also register. If you’re a first-time buyer, you should register. Basically, everyone should register for this condo development.
Podium Developments and Building Capital will be launching University Studios in early 2016. Keep your eye out for more updates in the coming months!