By Pepper Parr
March 10, 2023
BURLINGTON, ON
My question for Jason Pantalone, President and Managing partner of National Homes was: “How did you do it?”
How did they get to the point where they could build two eight story structure with 210 units and 57 stacked townhouses and offer them at $500,000. Not every unit has that sticker price – there are units that come in at the $700,000 level.
One of the two eight storey mid rise structures; stacked town houses are behind the mid-rise on a site that is expected to have a lot of trees.
The project has taken five years to get it to this point. The sales office is not yet open – and they may never have to build one; there are more than 1000 people on the registration list.
Among the amenities is a fitness room, a party room and a roof top terrace.
Included in the development are some co-work spaces.
National Homes is the first development in this part of the world we are aware of that has focused on the affordable housing market. Some developers will put up a development and have a few affordable units hoping to pick up some up some brownie points.
National has had the land on Plains Road East for a number of years.
National has been in business for 30 years and currently have two developments in the Brampton market, one of which is a 25 storey tower. They have a development on the east side of the GTA in the small town of Curtis.
They are the developers of the large project at 2100 Brant.
How many units will be snapped up at the low, low price of $500K and then turned into rentals @ $2.5K per month?
Or flipped for $900K.
Or when it gets built, and the price climbs 50% – take-it-or-leave it.
I have to question why this development is being touted as ” affordable’. If one thinks that a unit that is 490 square feet with no parking space is affordable at $500,000.00 I have to question what planet they are living on?
There is no mention of condominium fees and what is included in this monthly charge.
The condominium that I live in does not include, heat, hydro, etc. The only thing that is included is water.
Buyers Beware.