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One of the most reliable annual trends in real estate is the boost in sales that happens at the end of the winter, with spring and summer often touted as the optimal seasons for sales. So far this year though, even the changing season hasn’t been able to restore home sales to their usual rates in the GTA. In the midst of this challenging market, Mattamy Homes has come forward with a number of limited-time purchasing incentives that offer buyers a chance to save on their investments in a pair of active-construction developments in the western GTA: Soleil Condos, located in Milton, and ClockWork 2, in Oakville.
With both projects still offering inventory, the purchasing incentives provide some extra support for buyers who could be struggling with the current lack of affordability across the market. Most notably, the incentives include a closing credit that varies on the suite layout purchased. For one-bedroom and one-bedroom plus den suites, purchasers will receive a credit worth $40,000; for two-bedroom, or two-bedroom plus den layouts, the purchaser would be eligible for a credit valued at $60,000.
The incentive program also includes a number of other ways to save, and make the purchase on more flexible terms. Down payments, for example, are being reduced to a minimum of 10%, making the entry point into the market more accessible. The other offers include a free year of maintenance fees, the reduction of development charges to $0, and a free locker in the respective buildings, while purchasers maintain free rights to lease and assign their suite after the sale.
Taking a closer look at the developments in question, ClockWork 2 will become the second building at Mattamy's ClockWork community, a multi-phased development that will eventually consist of seven residential buildings in Oakville’s Joshua Creek neighbourhood. Climbing a total of 12 storeys, the building offers a total of 174 units within a tower and podium massing designed by architects BNKC.
Last photographed in January, the site of ClockWork 2 was in the early stages of concrete forming, having been fully excavated in the months prior. The image shows a pair of cranes installed and active, and a dense array of rebar lining the entirety of the site ahead of the pouring of what would become the first slab.
Meanwhile, traveling northwest to Milton, we have Soleil Condos, a project that benefits from the natural amenities of its location near the Niagara Escarpment. Like ClockWork, the project is also part of a larger multi-phased community development, representing the fourth and final phase of Mattamy's Soleil Condos, which encompasses a suite of buildings, all of which are capped off at heights of six storeys. The fourth phase features designs from architects KNYMH, adding two more six-storey buildings to the community, and a total of 250 units.
We can confirm that excavation has been completed and construction work is underway on phase four. Referring to the image below, we can see that two cranes have been deployed for the final phase (left), obscured behind the houses in the foreground of the image. The earlier phases, however, can be seen more clearly on the right side of the image, topping off at their respective six-storey marks.
With both projects now in the forming stage, the remainder of the year will bring big changes to each site as the buildings begin to rise. As for the purchasing incentives, they will be available only for a limited time, and while inventory remains for both developments.
UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you'd like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.
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| Related Companies: | Blackwell, BNKC, Doka Canada Ltd./Ltee, II BY IV DESIGN, L.A. Inc., Lumon Canada Inc., Mattamy Homes, NAK Design Strategies, Parcel One, Platinum Condo Deals, PreCon Real Estate |
