Amit Sofer, CEO of The TVMGroup didn’t even know the former hospital site was up for sale when he visited Sault Ste. Marie looking for development opportunities in the city. “We were here to see if there was a development we could do, that’s when we drove past the hospital site and we moved aggressively to get it.”
Ever since then Sofer and his Toronto based development team have worked tirelessly towards re-purposing the waterfront hospital property into high end luxury condominiums and so far the project is exceeding his expectations.
“There certainly is a market for what we’re doing”Sofer said, “we’ve sold 20 of the 40 suites, per-construction.”
Sofer tells SaultOnline.com that once the project is complete it will offer luxury and elegance that is usually only found in large metropolitan areas.
Sofer said they are focusing on the Plummer site as the first phase of the development. The five storey structure is currently in demo mode with construction work starting soon on the mix of 1,2 and 3 bedroom suites ranging from about 800 square feet to over 1,700 sq feet with various floor plans.
The development now called Riverwalk condominiums will also feature “ultra luxurious” amenities such as a state of the art movie theatre, a multi-purpose party room that overlooks the St. Mary’s river, a glass walled fully equipped fitness centre and underground parking.
The TVMGroup has set up a sales and showroom office on Queen Street (former Showstoppers location) that allows potential buyers to see what kind of finishing they can have and to show just how the suites will look including the kitchen and bathrooms. “We’re really just starting our marketing today with the opening of the showroom. It will give those who already bought, just based on floor plans, what kind of finishing they will get. All of it high-end from counter tops to appliances, flooring and bathroom fixtures.”
Sofer said it was important to them to show the community that they are not some pie-in-the-sky developer that have come and gone in recent years, referring to the condo development that was planned for the old brewery site and the Gateway site.
“We wanted to make this project as “Sault-centric” as possible. TheTVM Group has made partnerships with several local firms in the development of the condo including SooMill, MGP Architects and LPS lawfirm to name a few.
Sofer is not new to buying old buildings and giving them a new life, “we’ve done this in Peterborough, Port Hope and Colburg Ontario, we’ve turned old schools and commercial buildings into apartments or new commercial space and we’re currently building from the ground up on new condo construction in Colburg.”
“We did a fair amount of research into the Sault once we identified the Sault as a market and what we found was there is a great demand for residential rentals, but there’s an even greater demand for an upscale condominium product” Sofer said.
Sofer doesn’t know what will be done with the General site in up coming phases but they are concentrating on the Plummer site at the moment, “we want to make this a great success and with the General we’re exploring different options for it.”
Prices start at $224,900 to $389,900 for a three bedroom suite. “That’s all pre-construction pricing , during construction we have special pricing on.”
“It’s important to us to under promise and over deliver.” Sofer pointed out with the pre-construction pricing noting that “all buyers can customize their finishing along with their choice of any quartz countertop, any of the cabinetry for the kitchen and bathrooms and parking.”
Sofer says move-in date is pegged for the last quarter of 2015 and in the first quarter of 2016. “The response so far as been outstanding.”
To check out more about the TVM Group go to http://tvm.ca or visit the showroom at 756 Queen Street East.
I didn’t realize that there was that much disposable income in the Soo.
*condos
Yo thats great,but how about some afordible housing for all the others.
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