The Academy Condo Sells Out Overnight!

Guests examined the scale model of the community and the brochures provided – then decided it was a fabulous investment opportunity. Photo by Nicola Betts

Remember how less than a month ago, we were urging you to register for The Academy Condos in Scarborough by Devron Developments and LeMine Group? Well, they just sold out all 339 suites overnight after their VIP Preview Sales Event!

You’re probably wondering how this if even possible. Devron and LeMine’s success is due to a number of factors: low interest rates, location, a low price point, and a very informative marketing campaign.

The lineup of smart condo buyers continued all day. Photo by Nicola Betts

With low interest rates and prices starting at $188,800, you’re going to capture the attention of a few homebuyers. We don’t think this was the main factor though. The marketing campaign really focused on explaining why the location was ideal for investors and end-users alike.

Located at Morningside Avenue and Ellesmere Road, The Academy is on the University of Toronto Scarborough Campus (UTSC) where over 12,000 students study. For some reason, UTSC can only accommodate 769 students in their residence, and they are all reserved for first-year students. With over 12,000 students and that number expected to grow by 400 every year for the next 20 years, it is obvious that housing is necessary in this neighbourhood.

Sales Representative Jason Lam welcomes hopeful buyers to The Academy Presentation Center. Photo by Nicola Betts

Offering phenomenal computer science and mathematical resources, UTSC attracts a lot of young, bright minds, and many foreign students as well. Whether you were looking to live in a new condo or invest and rent to a student, The Academy was a great option!

There’s one more reason why this overnight sales feat is impressive. Earlier this year, in February, we interviewed Safa and Pouyan Safapour of Devron and Thomas Liu and Jessica Wang of LeMine for our Developers of Tomorrow series. They’re all aged 26 to 32 years old, and this is LeMine’s first condo development and Devron’s second!

Food trucks and prizes made the day fun for all. Photo by Nicola Betts

Congratulations to the young developers! We’re looking forward to watching The Academy come to life and can’t wait until the next Devron or LeMine development.