Origin Evergreen
LOCATION: Mississauga
BUILDER/DEVELOPER: Origin Retirement Communities
SIZE: 842 to 1,356 square feet
PRICE: from $229,000
SALES CENTRE: 800 Scollard Court, Mavis Road and Eglinton Avenue West, Mississauga
Builders of condominiums that are aimed specifically at retirees have to take certain marketing considerations into account. The first is that the people in the target market aren't really in a big rush to sell their homes. And, since they are usually experienced real estate buyers, they know exactly what they want out of a new property.
"We're selling a condominium to somebody who is not interested in buying real estate," says Neil Prashad, president of Origin Retirement Communities, which is building Origin Evergreen in Mississauga. "They're buying a lifestyle choice, and peace of mind. They want you to answer the question: 'Tell me how my life is going to be improved.' "
Mr. Prashad has helped market and build other retirement condominiums in Greater Toronto, but this is the first time he has been at the helm as developer. Another factor is that retirees usually aren't comfortable buying off of plans in a presale campaign. Thus, Origin has already started building the 246-unit community, consisting of 106 condo suites and 140 rental suites. Sales began last January, and about 30 per cent of the condo units - to be contained in a 13-storey tower - have been sold.
"Sales are always very slow while you're building, so you need to build on spec to a certain extent," Mr. Prashad says. "The biggest factor for these buyers is certainty."
The rental suites will be in a separate 10-storey building, which will include assisted-living services such as housekeeping, laundry and meal preparation.
Condo residents will have access to these services on an à la carte basis.
The Origin site will also include a separate townhouse-style complex with 54 suites known as garden flats. Layouts will range from one bedroom with a den to two bedrooms and a den, offering between 842 and 1,356 square feet of space.
There will be elevator access to each floor and an underground tunnel connecting the complex to the main towers and amenity areas, The latter will include 42,000 square feet of fitness and recreational space, dining services and cafés, a beauty salon, and a spa with an aqua-therapy pool.
Source:http://www.theglobeandmail.com/servlet/story/LAC.20071116.SITEORIGIN16/TPStory/TPEntertainment/Ontario/
LOCATION: Mississauga
BUILDER/DEVELOPER: Origin Retirement Communities
SIZE: 842 to 1,356 square feet
PRICE: from $229,000
SALES CENTRE: 800 Scollard Court, Mavis Road and Eglinton Avenue West, Mississauga
Builders of condominiums that are aimed specifically at retirees have to take certain marketing considerations into account. The first is that the people in the target market aren't really in a big rush to sell their homes. And, since they are usually experienced real estate buyers, they know exactly what they want out of a new property.
"We're selling a condominium to somebody who is not interested in buying real estate," says Neil Prashad, president of Origin Retirement Communities, which is building Origin Evergreen in Mississauga. "They're buying a lifestyle choice, and peace of mind. They want you to answer the question: 'Tell me how my life is going to be improved.' "
Mr. Prashad has helped market and build other retirement condominiums in Greater Toronto, but this is the first time he has been at the helm as developer. Another factor is that retirees usually aren't comfortable buying off of plans in a presale campaign. Thus, Origin has already started building the 246-unit community, consisting of 106 condo suites and 140 rental suites. Sales began last January, and about 30 per cent of the condo units - to be contained in a 13-storey tower - have been sold.
"Sales are always very slow while you're building, so you need to build on spec to a certain extent," Mr. Prashad says. "The biggest factor for these buyers is certainty."
The rental suites will be in a separate 10-storey building, which will include assisted-living services such as housekeeping, laundry and meal preparation.
Condo residents will have access to these services on an à la carte basis.
The Origin site will also include a separate townhouse-style complex with 54 suites known as garden flats. Layouts will range from one bedroom with a den to two bedrooms and a den, offering between 842 and 1,356 square feet of space.
There will be elevator access to each floor and an underground tunnel connecting the complex to the main towers and amenity areas, The latter will include 42,000 square feet of fitness and recreational space, dining services and cafés, a beauty salon, and a spa with an aqua-therapy pool.
Source:http://www.theglobeandmail.com/servlet/story/LAC.20071116.SITEORIGIN16/TPStory/TPEntertainment/Ontario/
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