An exceedingly rare, one-of-a-kind condo development is taking shape in downtown Kingston.
“This is the first of its kind,” said Philip Kuperhause, sales and marketing manager for IN8 Developments, the company behind Crown Condominiums.
“It’s very foreseeable, we’re not going to see another building constructed of this size in downtown Kingston, in terms of a condominium, for the next five years.”
Crown Condominiums is also being positioned as a unique investment opportunity in a hot Kingston housing market, where property values have skyrocketed in recent years and housing supply is low.
“We’re investing in downtown Kingston because we think it’s one of the most unique downtowns in the province,” said Kuperhause. “It has one of the best waterfronts in the province. It has shopping, dining, everything you’d want in a downtown.”
IN8 Developments primarily invests in communities of similar size to Kingston, outside the Greater Toronto Area (GTA). Sky-high Toronto real estate prices have created a mass migration to nearby cities, particularly among retirees and young professionals.
Kingston is seen as an ideal option because of its proximity to Toronto, Ottawa and Montreal, and the fact it has several high-quality employers in Queen’s University, Royal Military College, St. Lawrence College, Hotel Dieu Hospital and Kingston General Hospital.
“We believe Kingston will continue to grow in the foreseeable future, because of the benefits it offers a massive GTA population,” said Kuperhause.
There are 182 residential units and seven premium commercial spaces available in Crown Condominiums, and sales have already begun. By appointment only, buyers can now visit the new presentation office at 227 Princess St., just two doors down from the construction site.
The project has been fully approved and construction crews are set to break ground this summer, with full occupancy expected by September 2023.
“This is a very rare opportunity that will not last,” said Kuperhause. “There is a limited time to explore this opportunity. The condos are selling very fast.”
Original Article – https://www.thewhig.com/homes-sponsored/one-of-a-kind-condo-development-in-the-heart-of-kingston