I suppose from an investors standpoint this makes sense. But I would argue that higher end tenants would prefer to have higher end finishes and appliances. As Scott McGilvray says, a higher quality unit = a higher quality tenant. I know when I was looking for a unit I hated seeing laminate countertops and white appliances in brand new "luxury" condos. Love me some Bosch and Miele appliances too!Yes, it is considerably cheaper than the other newer projects in the development.
Concord has been offering some nice features and finishes on their newer buildings, such as stainless steel Bosch and Miele appliances, specially designed wood ceiling panels for kitchens, glass backsplashes, and stone tile walls in bathrooms, but they also offered a "downgrade package" which the units are stripped down to the basics such as white compact appliances, white melamine cabinets, one choice of laminate flooring, etc. for about $15,000 less. This has proven to be popular with many investors who plan to rent their units out and do not care about such features, so I am guessing that units at Newton are going to be much less luxurious and pretty plain and basic.
There is also a ton of resales all across Cityplace, most of them at very attractive prices, so there is lots of competition around.