Universal City 3 is the next phase of the most sought-after master-planned community coming to Pickering. This tower will stand 30-storeys high and will offer 359 spacious, residential suites. This development will be perfect for young professionals, couples, growing families, downsizers and everyone in between.
There is tremendous growth coming to Pickering. The newest entertainment hub, known as DLive “Durham Live,” will offer over 1.1 million square-feet of space with a casino, convention centre, amphitheatre, performing arts theatre, waterpark, plus, over 180,000 square-feet of restaurant and retail space. As if that wasn’t enough, a regional airport is scheduled for development here as well. With all of these new developments, the city of Pickering will create thousands of new jobs in the near future.
We sat down with Ralph Del Duca of Chestnut Hill Developments to discuss all of the future growth coming to the area and why now is the perfect time to invest in Pickering.
Check out the interview below!
Universal City 3 Condos by Chestnut Hill Developments - The COOL 10 Interview by GTA-Homes: TRANSCRIPT
GTA-HOMES: Hello GTA-Homes’ viewers, welcome back to another episode of the COOL 10.
In today’s episode, we sit down with Ralph Del Duca, President of Chestnut Hill Developments, to discuss the third phase of the Universal City master-planned community.
As a development with a history of selling out in just a few weeks, Ralph tells us why buyers just can’t get enough of Universal City and why Universal City 3 is so unique. Plus, we highlight all that is to come from the city of Pickering. We’re covering it all. Let’s check it out.
GTA-HOMES: Who is Chestnut Hill Developments?
RALPH DEL DUCA: Chestnut Hill Developments is a developer that's been around since 1981. We built communities throughout the GTA from Oakville to Whitby, all the way north to Newmarket and also in the GTA. We've been low-rise, high-rise, we've done development and we've been a consistent performer in the market and last year alone we were in the Top 10 developers in the City of Toronto.
GTA-HOMES: Why is Pickering a good option for buyers?
RD: There are two things that make your investment appreciate, number one is jobs and corporations moving to a city. When those two things happen, the jobs in Durham Live alone is creating 2,500 jobs in the near future, the long-term potential is 10,000 jobs. Major corporations from all over the world are starting to make their head-offices in Pickering which are going to create even more jobs. The universities are creating campuses here in Pickering which means your kids can stay close to home and go to the schools where they live, they don't have to travel back and forth -- and it's a highly educated community that Pickering has, 65% of the population either have university degrees or postgraduate degrees. So we have an educated populace, you have industry coming here, you have jobs being created, those are three things that make property values go up and long-term, it's a great investment.
GH: What was the vision behind this master-planned community?
RD: This master-planned community started with five buildings, that ended up being six buildings. What we wanted to do is, we wanted to create a community where people could live, play and work, where you have everything at your doorstep. Not only in your community but you're also in close proximity to the GO Train station -- which got you in and out of your project as quickly as possible, to get anywhere you want to go in record time.
GH: What amenities will residents enjoy at Universal City 3?
RD: We have a beautiful lobby, we have a pet spa, we have a lounge, we have a billiards room and we have a pool which is one of my most favourite places because it's positioned on the 7th floor, it's an outdoor pool. We decided to add an outdoor pool because even though we're sort of a winter city, people love to be outside in the summer and we thought we’d make it possible for them to enjoy the summer.
GH: Can you elaborate on the product mix and pricing?
RD: The product mix for Tower 3 is from 516 square-feet to over 1,100 square-feet. What we did is we made sure we had product for people who are starting out in the real estate market and also people who are downsizing. So our demographics are from people from 25 to 35 and 55+, with some people in between those age ranges. We made sure that everything was there to service the entire community. The price ranges from the 300’s to about 6-700,000. There's premium for lakeviews because we have phenomenal views of the lake and also the ravine and everything around us, it's just amazing to see.
GH: How accessible is transportation for the Universal City 3?
RD: Right there, you walk two minutes you're on the GO Train and you're in Toronto in 27 minutes. You want to go to a basketball game or hockey game? You get on the train -- Downtown Toronto in 27 minutes to watch the game, back in here and it's a rapid train that goes quickly into the city. Also, the transportation here in Pickering is just phenomenal everything was planned properly in the city.
GH: What demographics do you envision living here?
RD: I envision people who are starting out, young couples who want a place to live and want some space. They want usable space where they can live in the unit. They could buy a one-bedroom plus den, where they could be there with their, if they have a child, they can be there with their child, they don't have to move out right away and it's livable space and also people who are retiring. What we've done is for the older crowds, we made sure that all the facilities cater to everybody, so you don't have to go outside in the winter worried about snow and sleet and everything else, you can use all the facilities inside. We have commercial space below that will service the residents so everything is here for you to enjoy.
GH: Why should investors consider Universal City 3?
RD: Because it’s the biggest growth in the GTA, there's been a 6.7% growth. There was also in The Star last week that the growth here is phenomenal. Plus, in Pickering you have an educated community, you have a lot of jobs coming here. Durham Live alone is going to house 2,500 jobs, they just had a job fair they’re hiring 2,500 people, that alone is going to bring people to this area here. And as an investment, your investment is going to go up because people need places to live and there's a very, very small rental market in the Pickering area. So as an investor it’s good and as a homeowner and an end-user, you're also buying a good product because your value is going to go up and you can sort of start with a smaller unit and go up to larger unit and then you come into the market now. If you're downsizing, you get the right price for your product and then you can cash out of your house.
GH: What are your top reasons to buy here at Universal City 3?
RD: The city, location and transportation, those are the top three things. The city is very progressed and it's going to be the city of the future. It has phenomenal growth, by the year 2030, the population is going to be double in size which means your property values are going to go up, you’ll have close to 190,000 people. Location, where the location of our project is, with the views of the lake and the location to the GO train makes it a phenomenal investment, and also, transportation which is very important and with the casino happening here. Casino, potential for an airport, all major corporations are all moving here, all the universities are starting to develop campuses here. There's five universities that have campuses here right now and everything is starting to happen here. This is a city that's in its infancy stage right now and this is where being at the right place at the right time, this is why it's a great investment.
GH: When is the project launching and how can someone get priority access?
RD: This project is launching right now and you can actually call David and Brigitte at GTA-Homes. They're one of our Platinum Brokers, they support us along the way, they know our phenomenal growth and we're happy to have them bring their client’s here and let their client’s invest and live here in our communities. Because it's important to us and it's important to them to give it their clients the right product.
RD: Hi, I’m Ralph Del Duca and this has been the COOL 10.