Canderel, the developer behind Canada’s tallest residential tower, Aura (78 storeys at Yonge and Gerrard), is now teaming up with Cadillac Fairview, Bell, and the Montreal Canadiens to build what will be Montreal’s tallest residential tower: Tour Des Canadiens.
Canderel Investors Have an Excellent Track Record of Success
Purchasers at any of the College Park buildings, Aura, or any of the DNA buildings including 2010′s DNA3 Â have all done very well on their investments. Canderel understands just how critical investors are to the success of theirÂ condominiumÂ projects, and they always work to reward the earliest investors with the lowest possible prices and the most advantageous incentives. Because of my personal sales history with the developer here in Toronto, I will be offering my clients special access to this project even though it is in Montreal. If you would like to be among the first to buy at Tour Des Canadiens, fill out the form at the bottom of this blog post.
Maple Leaf Square Was One Of the Best Condo Investments in Toronto Over The Last Decade
When Maple Leaf Square launched in 2005, many people inside and outside the real estate community were shocked at the prices. “$450 per square foot!? They’ll never sell!” That’s what people said at the time. Most pre-construction downtown was under $400 per square foot back then. The area where Maple Leaf Square is today is a bustling part of downtown that now even has it’s own name: The South Core. Back in 2005, this area was a barren wasteland between the Gardiner and the rail tracks. Compare this to the location of Tour Des Canadiens which is in the very centre of the downtown, steps from everything, and is in an area that is years ahead in terms of development than where Maple Leaf Square was when it first started selling units.
But the numbers speak for themselves. Check out these examples of units at Maple Leaf Square and how they have appreciated over the last few years, and imagine what owning a unit at Tour Des Canadiens could mean over the next decade:Example 1: 1 bedroom, 476 sq ft Original Price in 2005: $194,900 Sold in 2012 as a resale condo: $365,000 Rate of return (on price only): 187.3% Average gross appreciation per year: $24,300 or 12.5% Â Example 2: 1+den 601 sq ft 2005 price: $242,900 Sold in 2012: $405,000 Rate of return (on price only): 166.8% Average gross appreciation per year: $23,285 or 9.5% Â Example 3: 2 bed + den, 850 sq ft 2005 price: 356,900 Sold in 2012: $565,000 Average gross appreciation per year: $29,728 or 8.3%
Buyers Get Ownership Privileges and Special Access to The Canadiens
One key difference between the Maple Leaf Square development and Tour Des Canadiens is that the world’s most storied and successful hockey franchise is actually a partner in the project and thus, owners in theÂ buildingÂ will have special privileges related to the hockey team. Things like special access to tickets and events, and even skating at centre ice with your friends. Benefits will last for a full 10 years after the building is complete and they will beÂ transferableÂ to future owners. Of course the real benefit to owners will be the daily rubbing of shoulders with their hockey heroes in the elevators as many players will no doubt be snatching up units in the building!
Tour Des Canadiens is centrally located in the heart of downtown Montreal. The building will be directly connected to Montreal’s “underground city (RESO) which is one of the world’s largest undergroundÂ pedestrianÂ networks. Over 30 kilometres of passageways linking to 1600 shops, 200 restaurants, 34 cinemas, McGill University and of course many subway (metro) stations.
A Sports Bar To End All Sports Bars
In the base of theÂ buildingÂ will be a sports bar unlike anything Montreal has ever seen. Recently the RealSports Bar in Maple Leaf Square was named the best sports bar in North America and it is packed out every single game night. The bar at Tour Des Canadiens promises to take this example and bring it up several notches to something that will be a gathering point and landmark in downtown Montreal.
Wide Variety of Buyers
Buyers of this project are expected to come from Montrealers and Habs fans from all over Quebec and the world. The project appeals equally to investors, first time buyers, those seeking a downtown pied a terre, and of course the Montreal Canadiens themselves who will be able to roll out of bed and walk downstairs to work! The Flower himself, Guy Lafleur (my namesake) is actually endorsing the project too!
Check out this video and register below to be among the first to buy into this once in a lifetime condominium project!