The Wyatt is coming to Regent Park in Toronto!
By Lucas on Mar 31, 2016
The Regent Park revitalization project by Daniels is one of Toronto’s most ambitious master-planned communities and the latest phase, The Wyatt, is coming this fall!
The Wyatt will be located at Sumach Street and Wyatt Avenue, steps away from the Dundas streetcar. What we love about the Regent Park revitalization is that with new housing and retail opportunities, it’s not just new homeowners and tenants moving to the neighbourhood. Businesses are opening, creating employment opportunities, and community engagement hubs are growing and becoming more diverse.
The Wyatt’s location has a Walk Score of 100 out of 100, which makes it a “Walker’s Paradise,” meaning you don’t need a car to accomplish daily errands. A wide array of retailers and services are just steps away, including Sobeys, Tim Hortons, banks, Shoppers Drug Mart, and the TD Centre of Learning.
There are also many opportunities to stay active thanks to the MLSE Athletic Grounds, which features a soccer field, basketball court, an ice rink, a playground, and community gardens, as well as the Regent Park six-acre park, which has many picnic areas, another playground, gardening plots, a greenhouse, a community oven, and an off-leash dog park!
Being located so close to the Dundas streetcar gives The Wyatt a Transit Score of 100, so any other part of downtown Toronto is easily accessible. Whether you work in the Financial District or want to go shopping on West Queen West, you’re only moments away.
Athletic Grounds - image courtesy of The Daniels Corporation
Affording the condo lifestyle at The Wyatt
It’s good for first-time homebuyers that The Wyatt has a Walk Score and Transit Score of 100 because it means they won’t have to manage the added cost of car ownership. Daniels is also offering a way to cut down your monthly carrying costs to make Toronto’s condo lifestyle more attainable.
First of all, Daniels is offering their celebrated gradual downpayment plan at The Wyatt. You simply need to provide $3,500 upon signing the Agreement of Purchase and Sale, then pay $1,000 a month until you move in or until 5% is paid.
If you’re currently renting, you may qualify for the First Home BOOST, another successful program that Daniels is offering at The Wyatt. Basically, you can turn your 5% downpayment into 15% with a 10% interest-free and payment-free loan from Daniels.
So instead of being responsible for 95% of the mortgage, you only need to pay back 85%, which means you will have lower monthly carrying costs. This loan is recognized by the Canada Mortgage and Housing Corporation (CMHC).
In order to qualify for the First Home BOOST, you must be currently renting, The Wyatt must be your sole and principal residence, your annual household income must be $87,800 or lower, be a permanent resident of Canada, and be 18 years or older.
When it comes to repaying this loan, you do so when you sell your unit or it is no longer your principal residence. All you need to do is repay the original 10% figure, plus 10% of the capital appreciation. If you sell your home and there is a capital loss, then the repayment is waived (as long as you sell it for fair market value at an arm’s length transaction).
Regent Park 6-acre park - image courtesy of The Daniels Corporation
Register for The Wyatt
Now is the time to register for The Wyatt in Regent Park by Daniels. As usual, Daniels’ unique registrant membership program is in effect. Simply registering will provide you with all the details about The Wyatt as it is released, but if you join the Inner Circle, then there are many perks!
To join the Inner Circle, you pay a one-time fee of $300, which is later applied to your purchase price or fully refunded if you decide not to purchase. You have nothing to lose! Inner Circle members receive special preview pricing, an invitation to the first advance sale, invites to other members-only events, as well as insider info ahead of the general public.
Prices are starting in the low $200,000s!
To register and join the Inner Circle, click here! You can also call 416-955-0559 with any questions or visit www.danielswyatt.com.
