Sage Kingston Condos
By: IN8 Developments
(10 votes, average: 4.90 out of 5)
Loading...University Avenue, Kingston, ON, Canada
Sold Out
Completed in 2020
Sage Kingston Condos is a new condo development By IN8 Developments currently in preconstruction at Near the Queen's University, In Kingston.
Sage Kingston Condos Highlights
- Very Close To Kingston General Hospital.
- most amenities are walking distance
- Stunning, Design, Architecture, Features & Finishes Make Sage Platinum Stand Out.
Sage Kingstone Platinum VIP Incentives
2 Years Free Property Management
Free Furniture Package to furnish entire suite
Why Invest in Kingston?
* Home To Wolrd Renowned Universities
* Kingston General Hospital high-income staff
* Properties can be significantly cheaper than in larger, metro areas.
*Lower vacancy rates can translate to higher rent payments.
Sage Kingston Fast Facts
Location:
- 82 walk score - Very walkable
- 15-minute walking distance to Queen’s University
- 15-minute walk to over 200 businesses and all essential amenities
- Princess Street is the closest non-residential street to campus
- Beautiful water views of Lake Ontario
- Kingston is situated within 3-hour drive of 33% of Canada’s population
- Directly in the middle between Toronto - Montreal - Ottawa over 10 million people
Queen’s University Top Reputation and High Quality Students
-Queen’s University has the largest endowment fund per student in Ontario
-#1 graduation rate with 87% graduating in 2016
-94.8% retention rate from 1st to 2nd year students
-Highest number of A+ students of any university in Canada
-Average grade of A+ or 89.2% for incoming students
-Highest number of award winning faculty
-Bloomberg Businessweek ranks Queen’s MBA #1 in the world for teamwork
-Maclean’s 2016 Rankings report ranked Queen’s #1 in student satisfaction
Rental Market in Kingston
-Kingston has the lowest vacancy rate in Ontario
-Healthy vacancy rate is considered to be 3%. Kingston has a 0.7% vacancy rate
-Among new building (built after 2005) vacancy rate is only 0.3%
-Kingston has the 3rd highest rental rates in Ontario only behind Toronto and Ottawa
-Rental rates increased 3.6% 2016-17
-Current supply of student rentals are 50-100 year old houses in poor condition, no amenities, and high maintenance costs
- 1 and 2 bedroom new purpose built luxury accommodations are scarce and highly sought after
-Students at Queen’s pay $750-800/month for a bedroom in a 5-7 bedroom house. More than 40% more than the same type of accomodation in Waterloo or Hamilton
-Low supply has led to record low vacancy rates and very high rental rates
-In addition wealthy students and a growing number of international students desire luxury private accomodations and they can afford higher prices
Barriers to Entry to Build in Kingston
-Queen’s University is surrounded by heritage protected 2 storey residential neighbourhoods and the lake is a natural barrier for growth to the south.
-Princess Street is the closest possible street to develop a condo building.
-Altus Group construction cost guidelines show Kingston 10% more costly than Toronto
-Kingston sits on top limestone bedrock. Making any excavation very expensive for builders
-Heritage protection creates very few lots that can be developed over time. The increased cost of construction will also deter builders from entering Kingston.
-This means each new building constructed will be more valuable over the long-term due to continued shortage of supply and minimal competition
Sage Living Hands-Off Investment Solution
-Sage Living will take care of finding a tenant, securing a lease agreement, rent collection, and maintenance service requests from your tenant.
-Sage Living specializes in student housing with a portfolio of over 2000 beds under management for
-Sage Living manages 11 different condo buildings. Conducting property management on rental units for individual condo owners.
-For the 4th year in a row Sage Living has maintained 0% vacancy rate across it’s entire portfolio
-Sage Living has consistently achieved the guaranteed rental rates in years 1 and 2 offered by IN8 Developments. In some cases it achieves rates of 10-20% higher than guaranteed rate.
• Signing lease agreements and
parental guarantors
• Collection of post-dated cheques
• Coordination of tenant move-in
• Field all tenant phone calls and inquiries
• Complete maintenance management
• Bill payments and cheque deposits
• Provide regular statements
and will be a new and attractive feature in Kingston that will
allow owners to charge higher rental rates. All furnishings
are delivered to the suite with installation provided, enabling
residents to simply move right in and enjoy.
• Double bed with mattress
• Nightstand, desk and chair
• Sofa with coffee table, media unit,
• 50” flatscreen TV
• Dining table and chairs
Buyers of our first Waterloo projects realized an accelerated performance in capital appreciation due to the increased pricing in our subsequent projects. Buyers of one bedroom units in Sage II realized a 35.6% appreciation in the value of their condo versus the price in Sage Platinum 3 years later.
When we look for opportunities for Sage Condominium projects, we look at the local market. We look for the age of the existing housing stock, and we look at what students are currently paying for rent. We performed a direct comparison between Kingston and Waterloo of what students are currently paying for a room in a 4-6 bedroom house that is over 25 years old. We found Kingston students were paying more in rent than they are in other markets. This immediately indicates that the supply/demand equation is tilted in the property owners favour in this under served market.
from over 200 businesses in Kingston’s downtown core and
from Queen’s University. All essential amenities, entertainment
and conveniences are within a 15-minute walking radius or short
6-minute bike ride.
South of Sage Prestige is the heritage protected neighbourhood
of Old Sydenham. For potential investors, this is heavily influential
knowing that large areas surrounding the University are
protected and have restrictions for future development.
Property Details
- Developer: IN8 Developments
- Selling Status: Sold Out
