10 Minutes with Tariq Adi of ADI Development Group
By Lucas on Sep 23, 2013
COO of ADI Development Saud Adi (left) and CEO/President Tariq Adi.
We recently had the opportunity to chat with Tariq Adi of ADI Development Group. We discussed ADI’s new project, LINK Condos + Towns, as well as the new car-share program that they are bringing to Burlington.
Newinhomes.com (NIH): So, fill us in on this car-share program we’ve heard so much about.
Tariq Adi (TA): Traffic is becoming a bit of an issue in Burlington, just in general, through the major regional roads and arterials. So, we started a trend, and we’re really trying to make a push to make the city more transit friendly. Our residents will be able to take advantage of the car-share amenity and not have to deal with the expense of a second vehicle. If the car share can allow the reduction of 10 vehicles on the road, I’m all for it. It reduces pollution and it reduces the carbon footprint of the city.
NIH: Will there be an annual fee like with other car share programs?
TA: We did something different here. Typically, the way the programs work in Toronto, there is no upfront cost and residents get a discounted rate, but the developer would need to guarantee a set revenue figure per month or year, based on those memberships. We opted to do it a different way. We essentially paid for the vehicle upfront, so we’ve absorbed that cost, and what happens from there is that all the residents become members and they get their discounted rate. They pay for the use of the vehicle, but as far as the guaranteed income to the company, we’ve already dealt with that.
NIH: Sounds great. How many cars are you starting with?
TA: We’ll have one at the Mod’rn for now. At the LINK, we’re looking at having two vehicles.
NIH: Speaking of LINK - can you give us some more details about it?
TA: It’s a four-building project, about 260,000 square feet. It’s called LINK because it’s all linked together via steel and glass. We worked with Roland Colthoff of RAW Design to come up with the vision for the project.
It’s on the corner of Sutton and Dundas, facing Bronte Creek. We oriented the buildings so that all the units on the interior and the east side of the building get views of the creek. All the buildings will be looking into a landscaped courtyard - it’s walkable, it has benches, barbecues, seating areas, lots of trees and vegetation, private terraces, and it all leads to a two-storey amenity podium that is separate from the rest of the building, and faces the creek.
NIH: What kind of amenities will LINK feature?
TA: You got your gym, your dining rooms, Scandinavian inspired spas, rain showers, saunas, steam rooms, a demonstration kitchen for entertaining, and a private bar that extends from the interior to the outdoor terrace, so people have that cozy feeling of the creek, yet be in this urban setting.
NIH: Can you tell us more about the types of floorplans that will be featured at LINK?
TA: They range from 435 to about 1,400 square feet. There’ll be a mix of floorplans ranging from studios to three-bedroom townhomes. The one-beds and two-beds will have den plans as well.
The townhomes are an interesting concept. They’re more of an urban town. Your ground floor suite and courtside suite on the ground level will be two-level townhomes. You get the terrace on the ground floor and a balcony on the second floor.
NIH: One of your secrets to success at Mod’rn was the pricing. Will we see similar pricing at LINK?
TA: Mid $170,000s. We’ve come to terms with identifying a need and price point in the city. The affordability aspect of the city seems to be skyrocketing - it’s getting a little bit out of hand. In the area where LINK is, there are townhomes selling for $600,000 and $700,000. Affordability is becoming an issue in Burlington, and we’re losing a lot of the demographic to the Hamilton and Niagara market. Grimsby and Stoney Creek are where a lot of the younger couples seem to be migrating, even if they don’t want to, but I think because of the affordability issue, they’re forced to. We’re building a home for them here. We’re proud to say that we are catering to a lifestyle more than anything. We were pleasantly surprised at our success at Mod’rn - people love the building, love the amenities, love the lifestyle and location. We’re doing it again at LINK.
NIH: You seem to have a lot invested in Burlington from a professional and emotional standpoint. What’s your tie to the city?
TA: Both the partners at ADI live here, we have a special connection to the city. There’s a ton of opportunity for growth, and the growth is going to be up. The urban sprawl days are over, there’s going to be a strong demand for condos in Burlington. I think we’re in the right place at the right time.
We thank Tariq Adi for his time, and we’re looking forward to seeing ADI kick-start the car-share trend in Burlington! Keep your eye out for LINK, Adi explained that they are planning the Grand Opening for sometime in October.
