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Sage Kingston Condos by IN8 Developments
Sage Kingston is a new condo project by IN8 Developments and is selling in Platinum Sale. This development will be located at 652 Princess Street, Kingston. Sage Kingston Condos is 10 storey building with 325 condo units. A new innovation from the most accomplished builder of University Condos in Canada. Studios, 1, 2 & 3 Bedroom modern condo suits. Steps to local retail amenities, Queen’s University and Lake Ontario. It is walking distance including grocery stores, restaurants, coffee shops, public parks and more. This is a perfect and convenient location for students and graduates as they would be able to walk to the university.
Incentives for SHAN FENG’s clients:
• 2 Year Lease Guarantee❗️❗️
• 2 Year Free Property Management by Sage Living❗️❗️
• Free Furniture Package to furnish entire suite❗️❗️
• Special VIP Discounts, First Hand Floor Plans & Units Exclusive to SHAN FENG TEAM❗️
• Complementary mortgage, legal and tax advices with professional assistance❗️❗️
– 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
Queen’s Student Housing Situation
-2016-17 student enrollment of 27,149 students
-More than 90% of students come from outside Kingston
-53% increase in student enrollment 2000-2016
-University planning to add 1,500 more students by 2020
-Queen’s International Students growing faster than any other University
-Temporary Resident Student visa permits in Kingston grew by 187% from 2015-2017
-International students pay more than twice in tuition. Come from very wealthy families and desire private luxury student housing
-Only 30% of its students received government financial assistance compared to 64% at other universities
– Top choice for Ontario’s elite private school students
-Queen’s on-campus housing only has 4,500 beds for 27,149 students
-Almost entirely for 1st year students.
-Still only 85.85% of 1st year students live on-campus. Number declining every year due to lack of supply.
-Queen’s has over 5,000 upper year graduate students who tend to desire more private luxury accomodations
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 strong rental rate growth. In some cases it achieves growth rates of 10-20% year over year.