StoryLine By CondoNow
Today at CondoNow we have an exclusive interview with LJM’s Business Development Director Shaheryar Mian. Shaheryar has been leading sales and marketing for LJM for the past three years and we wanted to get details on a hot new project coming to the Grimsby Area. This condo, Waterview Condos Phase 2 will be the first of its kind in the area and we got all the details. Enjoy!
What’s the vision behind Waterview Condos? What makes it so unique?
The vision was to create something that stands out in the Grimsby area and we accomplished this by creating the first highrise concrete structure in Grimsby. We wanted to attract informed buyers who desired spectacular views in an urban-style building. All units are on the east side of the building looking right onto the lake and this is something we’re very proud of. There are hardly any buildings like that in the golden horseshoe. Waterview Phase One was successful and we wanted to give the town more choices. We have one, two, and three bedroom units and they all come with underground parking and a balcony.
LJM has had a successful number of projects in the past, how does Waterview Condos Phase 2 compare?
We successfully launched Ironstone, Appleby Gardens, Trelawney Estates, Falcon Plaza, Lorne Park Townhomes, Eleven Superior and Waterview Condos Phase One. The original phase for Waterview was 75% sold out before we had our groundbreaking ceremony during April of this year. We expect to see this same level of success with Waterview Condos Phase 2. We’re a trusted developer and we know this area extremely well, we pride ourselves on fine construction and we can’t forget the spectacular views.
You mentioned this being the first of its kind in Grimsby, did the city have any objections?
They were actually very supportive of the whole process. The city is just as eager as we are to bring condos to Grimsby. Residents are always looking to invest in lakefront development and therefore everyone was quite supportive of the entire process, no pushback at all.
Who was the target buyer at Waterview Condos Phase One?
Some folks who purchased units were those that worked in Grimsby and wanted to downsize and desired convenience. Another group that purchased were people who wanted to move to the city of Grimsby from surrounding areas. I’d estimate that one-third of the building was sold to retirees who wanted to sit back and enjoy the lake view and resort-style amenities. We also had many young and middle aged couples purchase units. Oddly enough, we even had numerous local farmers purchase units at the first phase.
Let’s talk Waterview Condos Phase Two, can you give us the building breakdown?
Sure, the prices for One Bedroom units start at $199,000. Starting prices will be released at our grand opening on Saturday August 8th. Let’s not forget that we have plenty of incentives which include cash-back, upgraded credits and a flexible deposit structure. Lastly, we’re very proud to say maintenance fees will be at a competitive rate of .37 cents per square foot and that includes everything but hydro.
Wow, that’s considerably lower than anything in Toronto. Why should someone invest in Waterview Condos and the city of Grimsby?
For new investors, the price makes all the difference. Your cash goes a lot further in Grimsby than most places so there’s definitely less risk. We also wanted to focus on rentability, therefore we concentrated on plenty smaller units with the investor in mind. LJM Developments actually bought four townhomes that neighbour the condo project and we were able to rent them all out in under one month. Due to the amenities, investors can charge a premium and the view also adds to the value. There’s no doubt that Waterview Condos is highly investable and not many units are vacant for more than six weeks.
What about resaleability pertaining to the Grimsby area?
Grimsby has seen over 2,000 new homes development in just the last three years. Two other land developers have started building in Grimsby and many want the lakefront properties. The land between the lake and the QEW is very limited and everyone wants a piece. Waterview is also a five minute drive from the future Casa Blanca Go Station. This means that by 2020, when the station gets completed, property values will rise and these lakefront units will be valued at a premium.
You mentioned resort-style amenities, can you tell us a bit more?
With Waterview Condos Phase 2, we’re aiming for the higher-end buyer and we really want to go out of our way to leave an impression. We have a lake-view rooftop terrace with private cabanas, a jacuzzi, a zen garden and a BBQ area. Our indoor amenities include a fitness centre, party room, complete media room, full kitchen and dining area, 24 hour concierge and boutique retail shopping on the ground floor. This is all very unique to the area and will be the first of its kind in Grimsby.
Who is the architect for the development?
We selected ICON Architects who are located in downtown Toronto. They have a very urban, modernist style and creative with space use. We focused on finding a boutique architect that can utilize space well. ICON did Modr’n Condos and Appleby Gardens and we were really impressed. They’ve really created something spectacular at Waterview Condos.
Who is the interior designer for the project?
We chose MC2 Design. We’ve worked with them in the past and our purchasers really loved their previous work. We customized many upgrade packages and people were receptive to MC2. They are specifically focused on creating a low ecological footprint, making it very green and energy efficient.
Any final thoughts?
I’d like to say that the most significant feature at Waterview Condos Phase 1 and 2 is the lake view. We decided to go with an L-Shaped building with a single loaded structure to ensure all suites have a lovely view. There’s nothing better than waking up and having a coffee while you watch the sunrise each morning. We also designed the building to have large balconies that go out six feet and are 21-42 feet wide meaning you can fully enjoy this view. The concrete structure is designed to avoid noise from neighbouring units. We focused on sturdy construction and energy efficient units. Lastly, the VIP sales begin on August 8th grand opening so purchasers should look to get in now.
