Extended Deposit Structure
10% in 2021
5% in 2022
5% in 2023 | Crown Condominium
(Princess St & Queen St, Downtown Kingston)
PRICE FROM THE $300s
Occupancy: Early 2024
9 Storeys / 180-185 Suites
Studio- One Bedroom- One Bed+Den- Two Bedroom S
Suite Sizes: 350-1200 sqft
INCENTIVES
Free Smart Home Tech Package
(Smart Lighting, Smart Door, Smart Thermostat)
Free Bike Storage Unit
$5,000 Credit toward Finishing Upgrades
or
1 Year Free Property Management
$0 Assignment Fee
PRICE RANGES
Studios - Mid $300s
1 beds - Low $400s
1 bed + dens - High $400s
2 bed - High $500s
3 bed - High $600s
Amenities: Rooftop terrace with BBQ stations,
cabana seating areas,
Large exercise room, yoga studio,
Multi-purpose party room/games room, Concierge service.
DEPOSIT STRUCTURE
$5000 Upon Signing
5% in 30 days
5% on Oct 2021
2.5% on July 2022
2.5% on Oct 2022
2.5% on Feb 2023
2.5% on May 2023
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Live Life To The Fullest
Crown Condo located at 223 Princess Street, in the heart
of Kingston’s bright and energetic downtown,
with a 95 walk score. Crown Condos promises
to be a rare opportunity for those seeking
to live a vibrant urban lifestyle.
At Crown Condos you will enjoy incredible amenities
because of panoramic views and a thriving downtown
culture at your doorstep.
Live like a king surrounded by shopping,
restaurants and entertainment.
At Crown Condos you will also enjoy conveniently
access to the St.
Lawrence waterfront for culture, events,
scenic walks and cycling. |
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| LIMITED TIME OFFER INCENTIVES |
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$5,000 in Upgrade Credits
(or 1 Year Leasing Services + Property Management)
Smart Home Technology Package
(Smart Door, Smart Lights, Smart Thermostat)
$0 Assignment*
Free Vertical Bicycle Storage
Deposit Structure
$5,000 upon Signing
5% in 30 Days
5% on October 1st, 2021
2.5% on July 1st, 2022
2.5% on October 1st, 2022
2.5% on February 1st, 2023
2.5% on May 1st, 2023 |
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Limit time Deposit Structure
10% in 2021
5% in 2022
5% in 2023 |
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- Kingston is situated within a
3-hour drive of 33% of Canada’s population
- Kingston is the middle between
Toronto - Montreal - Ottawa with
a combined population of over 10 million people
- Kingston is a popular tourist destination
and is located next to the famous Thousand Islands
- Kingston was the original capital
of the country and as such has a large
foundation of government and institutional jobs
which bolster the local economy
- Unemployment rates in Kingston are low,
vacancy rates are some of the lowest in the country
- Kingston is protected by heritage designations
which makes new condominiums rare, especially downtown
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Rental Market in Kingston:
- Kingston has a population of 136,685 (2017)
- Over 40% of the population are Renters
- Only 13% of the residential properties
in Kingston are smaller than 2 bedrooms
- Kingston has the tenth lowest vacancy rate in Ontario
- The healthy vacancy rate is considered to be 3%.
Kingston has a 2.9% 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 3.2% 2019-20
- The current supply of student rentals are
50-100-year-old houses in poor condition,
no amenities, and high maintenance costs
- 1 and 2 bedrooms new purpose-built luxury accommodations
are scarce and highly sought after
- In addition, wealthy students and a growing number
of international students desire luxury private
accommodations and they can afford higher prices
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Barriers of Entry to Build in Kingston:
- Queen’s University is surrounded by heritage-protected
2 storey residential neighbourhoods.
- 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
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| | Queen's University in Kingston |
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- Queen’s University’s enrollments have surged for 2021!
- Queen’s University has the largest endowment fund per student in Ontario
- 26,309 total number of students, and 9,571 staff
- 3,877 total number of international students
- Queen’s is home to students from more than 100 countries
- 10.6% of the first-year enrolment are international students
- #1 graduation rate with 89% graduating in 2018
- 94.8% retention rate from 1st to 2nd-year students
- Faculty of Law - 605 student enrollment
- School of Medicine - 415 student enrollment
- The highest number of A+ students of any university in Canada
- The average grade of A+ or 89.2% for incoming students
- The 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 University Alumni are recognized
industry leaders, including Elon Musk
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| Queen's University - 2021 Times Higher
Education Impact Rankings Announcement |
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Queen's Student Housing Situation:
Enrollment Growth
- 2016-17 student enrollment of 27,149 students
- More than 95% of students come from outside Kingston
- Queen's International Students growing
faster than any other University
- International students pay five times
more tuition than local students. 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
On-Campus Housing
- Queen’s on-campus housing only has 4,500 beds for 27,149 students
- Almost entirely for 1st-year students.
- Still, only 90% of 1st-year students live on-campus.
Number declining every year due to lack of supply.
- Queen’s has over 6,800 upper-year graduate students
who tend to desire more private luxury accommodations
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