There was a packed house on Sunday 17th March for the first sales presentation by Neighbourhood Concepts Non Profit Corporation (NCNPC). There is a sales office in the current building at 10 Wilby which will be demolished in August and a ten-storey, 131 unit condominium is planned to open at the end of 2014. The building pays homage to the famous Frank Lloyd Wright ‘Fallingwater‘ house in Western Pennsylvania. Homage is also paid to Humber River stone in the name Riverstone and parts of the building will actually be faced in stone. To keep costs down, amenities such as swimming pools and saunas are not part of the design while geothermal heating will save on energy. There will be a yoga/exercise room on the top floor and a sky terrace with barbecue facilities for residents.
NCNCP President Nancy Hawley maintains that the site choice is a vote of confidence in the many area amenities that Weston has to offer, not least the proximity to the Weston stores, GO station and recreational facilities offered by the Humber trail, parks and the sports complex in Lions Park. NCNCP can offer purchasers a better deal because they are a non-profit corporation and spend little on advertising, preferring flyers and word of mouth. They can also arrange an interest-free loan (up to $48,000) for qualified purchasers to be paid off when the unit is sold.
At the meeting, Hawley mentioned that NCNCP got its start a few years ago with two condos in the Distillery District. At the time, people thought they were crazy to build there but original purchasers have seen their units double in value. Since then, successful projects have been build across the city.
You be the judge:
Construction will begin in August or when the project is 75% sold.