This is not your grandma’s condo. This is The Metalworks. This is The Distillery District and Gas Town before Starbucks moved in. If someone told you 15 years ago that those neighborhoods would be what they are now would you find a way to get in on the ground floor and be a part of the revitalization and community that was built? This is your opportunity.
Right now in The Distillery District, new build condos start at approximately $536 per square foot of finished space (not including condo fees) but the average is much closer to $600. The starting cost of a unit ranges from $210,300 to $453,200 for micro condo units depending on the development. The Metalworks, by contrast, one bedroom units start at $225,900 (including parking space) and average $370 per square foot of finished space for one bedroom units. The condo fees at The Metalworks will include the usual common elements, building insurance and parking but will also include water and gas!
Here is a breakdown of what the cost per square foot by unit type adds up to at The Metalworks:
- 2bed average price per sqft = $340.20
- 2bed + den = $348.30
- 1bed = $370
- 1bed + den =$380
While you will have to wait until mid to late 2016 for both The Metalworks as well as most developments in The Distillery District, at The Metalworks you have the opportunity to buy into a project at its inception and if you choose, you can help to build the community you live and play in. This will be a multi phase project and the opportunity to build equity is evident. Charmaine Collins wrote an excellent article addressing this – you can read Charmaine’s equity analysis right here. The real opportunity here is to be a part of a unique development based on a blend of history, modern design and the kind of pedestrian lifestyle more and more people are craving. It is a project full of vision and the expected results are incredible.
The Metalworks provides the chance to live the life you’re looking for. An urban setting with top end finishes. The ability to be entirely independent of your car. A central location, with GO transit and public transit on your doorstep whether you choose to commute to work or stay local you can get there worry free. Economical, your cost of living will be lower in Guelph than in the GTA but with a killer arts and music scene, a winning hockey team (yeah I went there), and the fact that Guelph is a locavore/foodie’s delight – you’ll never feel like you’re missing out.
Everyone has that friend that saw the coolest band in a tiny club before they made it big, or wore the skinniest jeans when you were still in flares; how about the friend who moved into The Distillery when people said it was too close to Regent Park. Maybe you are that friend. Maybe you want to be that friend. Either way, The Metalworks is the place where you can make your mark and be a part of a development that will make you money, let you live the life you’re looking for, but also give you bragging rights to say I got there first.