APPARENTLY, pent-up home buying demand in the Waverley West area isn't confined to Bridgwater Forest and South Pointe.
As it's turned out, if you build condominiums -- build them well, in a prime location and at an attractive price point - home buyers will come, en masse.
"When we had our grand opening for Annex Condominiums in the spring, the response was unbelievable," said Karma Developments' Myles Kraut of the development, which will be located at Lee Boulevard and Barnes Street (off Bison Drive).
"Some people waited in line six hours to reserve a unit. We couldn't believe it."
The end result of the first offering of the condos -- one- and two-bedroom tower units that ranged in size from 720 square feet to 1,122 square feet plus 56 condominium bungalows (two- and three-bedroom) and 28 three- and four-bedroom town homes -- was that the 184 units sold out in about three weeks.
It was a response that prompted Kraut and his partner at Karma, Marc Kipnes, to move up the construction schedule for Annex's final phase.
"We didn't think we'd start the last tower for another year," Kipnes said. "But the demand is there -- in a big way -- so we're going to go ahead with it way ahead of schedule. It's going to be called Lumen Tower, and will have 112 units."
Over half those units will be the 720 sq. ft. one-bedroom plus den units that captured the imagination of buyers, he added.
"Everyone loved them. First, they couldn't believe the unit was only 720 sq. ft. in size, there was so much liveable space. They also loved the fact that you could get a brand new unit in a great location for under $200,000. A significant number of them will be under $200,000 in Lumen Tower."
As was the case with the first tower, each suite will come complete with an impressive collection of standard finishes. And as before, there will be no need to upgrade.
"Definitely, we will incorporate the same type of finishing materials in the Lumen Tower units -- maple shaker thermofoil cabinets, granite counter tops, ceramic backsplashes, stainless appliances, laminate hardwood floors and upgraded carpet," Kraut said.
"What you see is what you get. There will be no need to upgrade whatsoever -- our goal is to make the buying process as simple as possible."
The buildings will also be extremely well-built with ICF (insulated concrete form) walls and tri-pane windows that will ensure that interiors are comfortable and quiet. Thanks to nine-foot ceilings, as well as strategically-placed curtain wall glass, interiors also promise to be naturally bright. Layouts will be open-concept and have been designed to maximize available square footage.
"There will be absolutely little in the way of wasted space," said Newman, Greenberg & Associates' Barry Greenberg. "And the amenities will be impressive, too. There will be an internet cafe, communal patio and gym, as well as surface and underground parking. The surface parking will feature environmentally friendly permeable pavers.
"Most importantly, there will be no bidding wars -- simply come to the display centre (at 1325 Markham Rd.) to select your suite."
Kipnes said it will be worth the trip to come to Annex's grand opening for Lumen Tower suites on Sept. 10.
"We're going to have a special on that gives buyers a three-per-cent discount on whatever unit they choose -- a potential saving of up to $9,000," he said.
"This is an exciting time for us. We knew we had a good, value-packed product, but didn't expect such a strong response. On Sept. 10, buyers can not only reserve a new home at today's prices, but save some extra money. That's what we're all about -- providing buyers with well-built, value-packed homes."
Likewise, both Newman and Greenberg are excited about representing such a well-conceived project.
"We represent only the highest-quality projects," Greenberg said. "A lot of people want to live in the area, so we're taking care of a wide customer base. We're pleased to be filling a need with such an affordable, well-done project."
To learn more about Annex Condominiums, see www.annexcondos.ca or call 955-9898.
lewys@mts.net
