Wider range of buyers in mind
FINAL PHASE OF MILTON CONDO PROJECT FOCUSES ON AFFORDABILITY
When Phase 1 of Mile & Creek went on sale in late 2022, one-bedroom suites in Mattamy Homes’ Milton condo community started at a little over $500,000. Less than two years later, prices for the master-planned project’s third and final phase have barely risen despite Phase 1 being on the verge of selling out, and Phase 2 being 80 per cent sold.
Had Mattamy’s Phase 3 launch proceeded as originally planned, roomier and pricier suites would have been the result. But after a “redesign based on market insights gained through our Phase 1 launch,” explains Alison O’neill, vice-president of sales and marketing for Mattamy’s GTA Urban Division, Phase 3’s average suite size was reduced to 660 square feet “to ensure accessibility to a wider range of prospective buyers.”
While those buyers are still a “balanced mix” of investors and owner occupants — with the latter including “first-time homebuyers, young families, and couples embarking on their home-ownership journey,” O’neill says — a trend has emerged among local investors “with a strong connection to their community who place significant value on ongoing growth and development and understanding the value their community offers.
These investors typically live in the surrounding lowrise communities (and are) looking to invest in Milton’s promising future as one of Canada’s best small cities to live in, and one of the country’s fastest-growing tech centres.”
Recent projections from the Toronto Regional Real Estate Board seem to bear this out, with Milton rents estimated to increase by 46 per cent over the next five years, compared to 20 per cent in Toronto.
A three-storey standalone amenity pavilion shared with Mile & Creek’s four other residential buildings
also makes Phase 3’s 160 units — one, two, three, and three bedrooms plus den — more affordable, O’neill says. On the pavilion’s ground floor is a fitness centre with yoga studio; upstairs are coworking and social lounges and a media room. The structure’s rooftop,
meanwhile, is home to a roomy terrace with seating, dining and barbecue areas overlooking the thickly forested south-facing bank of picturesque Sixteen Mile Creek as it winds through Milton’s young and fast-growing Cobden neighbourhood.
Phase 3 stands out “for its proximity to lush greenspace,” O’neill says, with south- and west-facing units providing residents with “views of the tranquil woodland” lining Whitlock Avenue.
Designed by the architects at Toronto-based
KNYMH Inc., Phase 3 is ringed by balconies and terraces, which are included in every unit. Ceiling heights reach nine feet on floors two to seven, 12 feet on the ground floor, and 10 feet on the 8th floor.
Across the board, units come with floor-to-ceiling windows, custom-designed cabinetry and square-edged quartz countertops in the kitchens and bathrooms, chrome fixtures and stainless-steel appliances, and undermount sinks with tile backsplashes. Work has already begun on a geothermal heating and cooling system for all five of Mile & Creek’s residential buildings.
Starting from the low $500,000s. For more information, visit mattamymileandcreek.ca.