On Tuesday Sept 18 2018, Ovais Qassim met James Bradeen to discuss the new condominium development by Pemberton Group that has recently been announced for 543 Richmond St in Toronto. Here’s what they discussed,
Ovais: Good afternoon everyone, thank you for joining us today. My name is Ovais Qassim, I’m from Premier Matrix Realty. We’re here today with James Bradeen. Harlowe Realty and the Milborne group have been retained by the Pemberton group for the launch of 543 Richmond. The purpose of today’s interview is to talk a little bit about the Pemberton group, the developer, but more importantly 543 Richmond, a new project that you’re launching.
James: The Pemberton Group is one of the largest developers in the G.T.A. Over the last couple of years we’ve launched projects downtown from Time & Space, to Social Condominiums. We’ve also launched a number of projects in Richmond Hill and Mississauga and even Oakville. So a strong presence throughout the G.T.A. as a whole.
Ovais: The location, the neighbourhood, what makes it great?
James: 543 is steps away from the entertainment district. You’re minutes away from the financial district, so that (you’re close) to one third of the jobs in the city, or about five hundred thousand jobs. You’re minutes from the theatre district, and the fashion district, and so you have some of the most exciting restaurants nearby as well as the best nightlife areas in the city. All just steps away, so this is one of the most exciting projects and locations that we’ve launched in quite some time.
Ovais: And it’s actually saddled between King West and Queen West, and we know that Queen West has been rated the second most trendiest neighbourhood by Vogue magazine just recently.
Ovais: Tell us about the project itself and how many units do we have and how many stories, the different types of units, and the unit mix.
James: So the building is fifteen stories tall, it’s comprised of about four hundred seventy six suites and they will range anywhere from studios at about three hundred seventy square feet up to three plus dens at about one thousand forty five. So really quite a versatile range of more economical suites and the studios up to more livable spaces in the three plus dens.
Ovais: Tell us about what’s the most exciting element of the project for you.
James: Absolutely, yes so there’s about fourteen to fifteen thousand square feet of amenities located between the second and the eighth floors. On the second floor you have an outdoor space with a seasonal pool right, as well as barbecues, cabana areas there’s going to be three separate party rooms scattered again between the second and eight floors. As well as a theatre room, games room, a multimedia area, essentially everything that your clients could want.
Ovais: I know that there is a lot of retail around at the base of the existing buildings in the neighbourhood, what will this project have?
James: So located just off of Portland and primarily towards the east end side of the building there’s going to be about eighteen thousand square feet of commercial space that will certainly be quite complimentary to the building amenities as well as the surrounding environment.
Ovais: Nice. One last question is this a good investment?
James: Absolutely. So if you look at the actual resale numbers in the area they are on par if not slightly more expensive than the majority of the Suites that we’re launching at this point in time. So that’s one metric that really shows that you’re buying four years in the future but at today’s price point, another very important component is all of the pre-construction projects that are launching in the area at this point in time they’re quite a bit more expensive, they’re twelve fifty to fourteen hundred and in some cases even more per square foot. So there is tremendous value and for that reason I do believe it’s one of the best investment opportunities in the city today.
Ovais: Thank you so much for coming out.
James: Thank you for having us.