Sage Kingston Condos is a new preconstruction condo development by IN8 Developments located at 652 Princess Street in Kingston. Sage Kingston Condos will be 10 storeys with a total of 325 condo units. Estimated completion date is set for September 2021. Amenities at Sage Kingston Condos will include a rooftop patio, fitness centre, indoor atrium, study rooms and lounge.
Sage Kingston will provide an affordable investment opportunity for your clients with the hands-free 2-year rental guarantee and free property management provided by Sage Living (IN8’s property management company that have a fully leased portfolio of 2,000 beds). Most suites will be from just over $200,000 to just over $400,000.
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 accommodation 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 accommodations and they can afford higher prices
TOP 5 REASONS TO BUY AT SAGE KINGSTON CONDOS
1. Location! – Sage Kingston Condos is located within a 15-minute walk to Queen’s University. Also, within walking distance are many restaurants, cafes, parks, and Kingston General Hospital.
2. Rental Demand! – Every fall Queen’s University sees over 30,000 students enrol at the school and with approximately 95% of them coming from outside the city, the school does not have the ability to house all of them, therefore creating a huge demand for off-campus housing. Sage Kingston Condos is the perfect place for students to live during the school year.
3. Rent Guarantee! – Sage Kingston Condos offers a minimum rent guarantee for two years and free property management. Every suite at Sage Kingston Condos also comes fully furnished. These features are sure to make Sage Kingston Condos a high in demand condo for students and making it a great turn key investment for investors.
4. Experienced Developer! – IN8 Developments is the leader in student-based condo developments. As an investor you can be confident with their experience in constructing and renting out off-campus accommodations to students.
5. Hotel-Like Amenities! – Sage Kingston Condos is designed to encourage students to stay healthy and active. Sage Kingston Condos will offer residents amenities such as a fitness studio, a study room, and a retail level.
Sage Kingston Condos Highlights:
- Steps to Queen’s University
- Beautiful views of Lake Ontario
- Many nearby public transportation options
- Surrounded by shopping, dining and entertainment
- Close to schools
- Nearby parks include Memorial Centre, Victoria Park and Pine Street Park