If there is one thing that Daniels Homes is good at, it is building the hype for their projects. Recently in Mississauga, Daniels released their second phase of "FIRST HOME", a development similar to One Park West that had people lining up for 10 Days (!!!) before they even had any idea about floorplans or pricing.
One Park West, the second Phase the Regent Park Redevelopment by Daniels comes after the successful launch of One Cole (Phase 1) and continues the redevelopment of the Regent Park area in what will be a a big part of the master plan that will see 16 new developments in the Regent Park area over the next 15 years. The project is very much geared towards first time home buyers, with an affordable deposit schedule and reasonably price point. Here are a few other factors to consider when looking at One Park West.
a) Turnaround Time: Unlike other developments, One Park West has already begun construction before selling any units. This allows home-buyers to move in much quicker than the standard building time of 2-4 years. One Park West buyers will be able to move in as early as next year. This selling model has been used very successfully in Mississauga when selling Picket Fences I & II and First Home I & II (and now launching III).
b) Deposit Structure: Most other developments that require a 15%-25% deposit (which can equal $50,000-$100,000) – buyers can purchase a brand new unit in Toronto for as little as 5% down.
c) Price: The price for most of the units start at around $430-$440 per square foot. This is very comparable to One Cole where they are currently selling for around $420 per square foot. When comparing to the price of other new developments around the city hitting the $700 per square foot mark, it's easy to see why there is already so much early hype for this development.
While One Park West will be geared towards End Users, I am sure with the attractive deposit schedule and potential for rental units there will be some investors keeping a close eye on the development.
If you would like to be the first to get information on One Park West then please fill out the form below to get floorplans and pricing as soon as I get them in my hands.
UPDATE: As of SEPTEMBER 17th, Agents have already begun to line up outside of the Sales office in anticipation of the sales event beginning on October 5th. This project is going to be red hot.
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