KINGSTON, ON – NOVEMBER 19, 2014 – The University Suites Condominiums’ North Tower, steps from Queen’s University in downtown Kingston, has sold out in less than a month.
“This is an amazing achievement in such a short period of time,” said Hunter Milborne, CEO of Milborne Real Estate of Toronto. Milborne is recognized as the ‘Dean of Condos’ by Canadian Business magazine and his team is responsible for the project’s sales.
A two-building development (North and South Towers), University Suites is Kingston’s first near to campus luxury condominium community at the corner of Princess St. and University Ave.
Added Milborne, “Because of the unprecedented demand, the release of South Tower is set for December 2014.”
University Suites is attracting investors and home owners. “The $188,900 starting price made it easy to own for less and rent for more, and a realization of continuing positive cash-flow makes this a safe and secure income-driven investment,” said Milborne. “Investors have been very impressed with the 3-year turn-key lease back option available to generate income; while end users are equally impressed with the well-designed amenities, including a two level atrium fitness area and a roof top BBQ lounge overlooking Kingston.”
Kingston-based Varsity Properties is managing the project. “There is a serious demand for quality housing in this market and we see that demand growing every year,” says A.J. Keilty, President & CEO of Varsity Properties
Teeple Architects of Toronto have created clean and modern landmark buildings to serve as a gateway to downtown Kingston and Queen’s University. The development will be built by Brookfield Multiplex.
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ABOUT PRK DEVELOPMENTS
PRK Developments is a partnership between Podium Developments and Reichmann International with more than 50 years of combined experience. Podium Developments is a respected builder that specializes in urban infill. With 10 successful projects completed in Kingston and numerous projects in Toronto, Oshawa and Guelph, Podium Developments has tremendous expertise in bringing new developments to fruition. The company’s partners, Bernard Luttmer and Oskar Johansson are both former Olympic athletes as well as Queen’s University alumni. Partnering with Podium Developments on University Suites is Reichmann International. With projects including First Canadian Place (Toronto), World Financial Centre (New York), Canary Wharf (London), Torre Mayor and Torre Diana (Mexico City), Waldorf Astoria Hotel and Condos (Jerusalem), they are a highly regarded, well-known developer within the Real Estate Industry. Visit www.UniversitySuites.com.