Amit & Roy recently visited the new sales office for Pinnacle at Grand Park (by Pinnacle International) which will be opening to the public sometime in the fall. One of the biggest features of the sales center is that they have all five floorplans created as model suites, giving potential home buyers a real sense of what they are buying.
The finishes are on par with those found in other new Condo Developments in the immediate area (Chicago and the Residences). Laminate flooring, granite countertops and stainless steel appliances (note: Residences are offering black appliances as standard) are on par with what we have seen in the new developments in the area.
In terms of Value, Pinnacle Condos are cheaper than their direct competitors while offering similar features. One of my biggest problems with new condo developments in Mississauga has been that they are charging as high as $450 per square foot despite some of the newer resale buildings selling around $350 per square foot – can potential home buyers make that additional $100 per square foot back? Pinnacle is priced very aggressively compared to other new developments around $375-$390 per square foot.
OTHER NEW DEVELOPMENTS
| Development | Price/Sq.Ft. | Occupancy | Deposit Structure |
| Pinnacle | $375-$390 | December 2012 | 15% + 5% |
| Chicago | $425-$475 | June 2010 | $10,000* Special offer |
| Residences | $400-$425 | December 2011 | 15% |
| Grand Residences | $400-$425 | Summer 2012 | 15% + 5% |
Pinnacle offers great value when compared to the other new developments. It is the cheapest of the three new developments in the area while offering very similar finishes and features.
It is also important to take a look at the current resale market in the area to determine how well priced the current development is. Recent developments by Daniels including One Park Tower (388 Prince of Wales), The Capital Condos (4080/4090 Living Arts), Grand Ovation (310 Burnhamthorpe) and Ultra Ovation (330 Burnhamthorpe) offer decent comparables in the resale market and allow us to take a look at what kind of appreciation rate we can expect in the new buildings.
The following Price/Sq.Ft are based on the last 10 sales in the building as of August 4th, 2010.
CURRENT COMPARABLE RESALE PRICES
| Development | Price/Sq.Ft |
| One Park Tower (388 Prince of Wales) | $340-$400 |
| Capital Condos (4080/4090 Living Arts) | $300-$350 |
| Grand Ovation (310 Burnhamthorpe) | $315-$350 |
| Ultra Ovation (330 Burnhamthorpe) | $335-$375 |
Again, I believe that at less than $400 per square foot Pinnacles offers good value when compared to other developments. The condos are selling by and large at today's prices and will be closing in 2.5 years which will allow for growth in real estate value.
If you are interested in getting more information on Pinnacle Grand Park (or any of the other developments listed above) please contact us using the form below.
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