OSHAWA, ON, April 11, 2016 – University Studios in Oshawa, is officially sold out. The first phase sold in two weeks; the final phase sold out in two days.
University Studios is being co-developed by Building Capital of Markham, ON and Podium Developments of Toronto and is managed by Varsity Properties of Kingston, ON. The development was designed by Wallman Architects of Toronto.
Saqib Qureshi, Partner at Building Capital said, “The quick sales result comes from the nearby campuses. University of Ontario Institute of Technology (UOIT) and Durham College currently aren’t committed to building more student housing so, University Studios gives students the option to live near the campuses. Our development, next to UOIT and Durham College, caters to the growing demand for student housing in Durham Region.”
Oshawa is one of the GTA’s most rapidly-growing municipalities. In the midst of a population spike, Oshawa real estate is experiencing appreciation rates as high as 15 per cent per year in some areas.
“As an investment, at $149,990, University Studios was the best deal in the GTA. The units are fully-managed by Varsity Properties and offer a hands-off real estate property,” said Bernard Luttmer, Director of Podium Developments. “All that combined with the three year Vendor Leaseback included with every unit, so it’s no surprise investors were quick to grab this opportunity.”
University Studios also introduced the innovative SmartStudios™ space-saving design, inspired by Podium Director Oskar Johansson, who lived as a university student in Sweden, in a similar residence. “The concept, to provide all facilities in a very compact studio suite size, has become an international reality in cities such as New York and San Francisco, and has now arrived in the GTA,” said Johansson.
Formed in 2008 as a special developer and investor in student living and commercial real estate, Building Capital is based in Markham, ON and has developed several highly successful student living projects across Southern Ontario, each being fully occupied on completion. Visit
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Founded over a decade ago, Podium Developments is a respected builder with a successful track record in rezoning and developing sensitive urban infill locations. With 24 successful projects completed in Toronto, Oshawa, Kingston, Guelph and others in development, Podium has demonstrated expertise in bringing new developments to fruition. Visit
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