The Massey Tower pricelists are out and the builder is now taking worksheets.
Pricing for VIP is similar to what College Park is trading right now for resale and the buildings the same walkscore. Since Massey Tower is located at 197 Yonge having a walkscore of 98 is more meaningful. Yonge St is the retail/tourism hub of Toronto and there is lots to do. Located near Ryerson, the Financial district and the Discovery District, owners who buy a unit in the tower will have no trouble renting their units out (furnished 1 bedroom apartments without parking at College Park rent for $3000 month).
Look for the end user profile being executives and professionals working in the area. Maybe they are looking for a second residence close to work after they are pulling the late nights or someplace they could have their guests stay at. Your tenant pool will most likely come from executives looking for a hotel alternative.
So we have the following in favour of the project:
Cheaper than resale (some units at College Park on trading higher)
- Great location
- Lots of stuff to do around
- Lots of employers in the area
- Highly walkable area
- 400 m away from the subway
If you are interested in this development, register with Inside Toronto Condos using the contact form below.