Condo sales going well, developer says

Construction for both waterfront condominiums and the yet-to-be-named hotel could happen nearly simultaneously, says the president of Resolve Group.

The first of two condos being sold by Resolve Group went up for sale last month with the majority of the 51 units being taken within the first week. Nearly a month later, 10 units remain and now the developer intends to push plans for construction of the second condominium sooner than originally planned.

Construction for the first building will start in October and building two could start the same month.

But that’s not the only building that may get an early start.

If all goes well, Gisele MacDonald, president and CEO for Resolve Group, said there’s a possibility the unnamed hotel could go up alongside the two condos.

“The issue is we have to solidify the agreements,” MacDonald said. “There’s a lot of agreements to solidify with the hotel but we’re in the process right now. There’s a possibility that all three buildings could go up at the same time.”

MacDonald clarified that one building would start construction and then another would follow a few months later.

Although an official announcement hasn’t come yet, it is largely believed the hotelier will be the Canadian-based Delta chain. Joe Bova, a developer with Resolve Group, previously stated he favoured Delta describing it as “the best hotel chain” in Canada but would not confirm rumours that it was indeed the waterfront hotelier.

MacDonald said they hoped to have an announcement of the hotelier in either September or early October at the latest.

“Our plans are to construct the condos first and we are in negotiations with the hotel and we hope to make that announcement in the fall,” she said.

MacDonald wasn’t surprised by the response of the condos but more that they have sold out so quickly, she said.

“We were just five weeks into launching and we’re getting, very, very full on building one,” she said. “We’re very excited to say that we’re launching building two. From the overwhelming response, we have decided to put building two on the market.”

She added they would like to see 50 per cent of the 51 units sold before considering starting construction.

The second building condominium units will be marketed to people this week. Those interested in purchasing a unit can visit the demonstration centre at the CN Station at Prince Arthur’s Landing.

It’s expected that tenants will be able to move in sometime in April 2014.