Family-size suites a highlight at The Kennedys phase 2

The announcement of the first tower at The Kennedys Condominiums earlier this year garnered so much interest that plans are underway to introduce phase two. Adding something new to the residential mix at Samm Developments’ master-planned community at Kennedy Road and Highway 401 in Toronto’s east end, 60 per cent of its suites will be two-bedroom layouts or larger. Twenty per cent of these will be two-bedroom plus den, and another 20 per cent will be three-bedroom designs.

“Approximately 70 per cent of the suites in phase one are one-bedroom and one-bedroom plus den layouts,” says Ali Akman, president of Samm Developments. “They are being received very well by registrants, and we have also had a lot of requests for larger suites. In downtown Toronto, developers are designing smaller suites to compete on price points. A three-bedroom layout there, for example, may measure in at just 750 sq. ft., which is as small and tight as it gets. At The Kennedys tower two, three-bedroom layouts will be 900 sq. ft. and up. Most condo shoppers who want these bigger sizes have had to settle for 20 plus year-old buildings that have lackluster amenities and higher maintenance fees. We are applying the same efficiencies we have learned through the industry to create the larger layouts at The Kennedys.”

This location offers the opportunity for affordable luxury close to a wealth of amenities including parks, schools, shopping and convenient access to the bus, subway and LRT, as well as proximity to Highways 401 and 404. “Once it’s completed, the extension of the Bloor-Danforth subway eastward will also add to the value at The Kennedys,” Akman says.

“This is right in line with what we have noticed the past couple of years,” says Charles-Étienne Jaque, director at Milborne Real Estate Inc., which is handling sales. “My team within Milborne brings up to a dozen new projects to the market each year, and the demand for larger suites is growing, especially in recent months.Samm Developments is an early adopter of the trend by using the level of interest in larger suites in tower one to influence design in tower two, which will offer no one-bedroom layouts at all.”

Condo shoppers realize the value in the east end, where ownership is still attainable, unlike downtown which has seen big price increases.“If you look at Toronto, one-bedroom condos have not seen the same price increases of the larger suites in general,” Jaque says. “There are also many more of the smaller condos available than larger suites. At The Kennedys, the spacious suites in tower two are likely to see greater and faster increases in value.”

“This is a triple-A location, where you usually find mostly smaller suites that appeal to investors,” Akman adds. “At The Kennedys, the majority of our suites will attract end-users, which is wonderful. They may be first-time buyers who plan to have a family or people downsizing from a larger home in the area but still want a spacious suite. Add to that the fact that we have enlisted a dream design team, and the value is incredible. ”

These prestigious firms include Page + Steele/IBI Group Architects for the tower exteriors, Ferris + Associates Inc. for the landscaping and Tomas Pearce Interior Design Consulting Inc. for the interiors. The sophisticated design incorporates a European-style, open-air landscaped courtyard. Stunning amenities range from the hotel-style lobby to an indoor pool and hot tub, gym, gaming room, billiards lounge and karaoke room. In addition, the condominium will feature retail spaces and a landscaped outdoor barbecue terrace.