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.
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.
Located near the University of Ontario Institute of Technology (UOIT) and Durham College, Podium Developments and Building Capital's University Studios is introducing a new student living typology to the local market. The Wallman Architects-designed project's suites are specifically configured to meet the needs of upper year post-secondary students, with the spatially-efficient suites designed to provide a multifunctional living space.
Frat house … just whisper those two little words and watch the neighbours cringe. For many, the mere idea of having a group of university students sharing a home on their street conjures up images of John Belushi’s wild and crazy antics at Delta Tau Chi in the classic 1978 comedy Animal House.
But have no fear, condo developers are doing their best to put drunken toga parties on the back burner. Judging by the new offerings, student living has gone upscale as brand new mid-rise and high-rise buildings sprout up in university towns. Not only are the suites furnished but the amenity spaces boast fitness studios, outdoor lounges and catering kitchens on par with condo buildings typically built for these kids’ parents and grandparents. To boot, investors can snap up a suite or two and then hand them over to a management company that will secure the tenants and cater to their every need.