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Development Review: ICON330

Posted by John Benjamins on October 29, 2015
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ICON330 is set to become one of the premier student housing developments in Waterloo region. ICON is Rise Real Estate Inc.’s brand. It’s a specific style that focuses on delivering luxury condominium style living to students while building developments in a sustainable and environmentally conscious manner. Completion of the development is estimated at September 2016. All signs indicate construction is on schedule.

Icon 330

Artists rendering of ICON330

ICON330 is located at 330 Phillip St. in Waterloo. This convenient location places students literally within steps of the campus. Each unit comes fully furnished for student living and includes 4 stainless steel appliances for the kitchen, a washer-dryer, window coverings, a couch for the living room and a bed and desk for each room. The development stretches between Columbia and University, with two high-rise towers 25 storeys built on top of a 6 storey podium. Further building amenities include roof top patios, study rooms, a full fitness facility, yoga, saunas, 24/7 security and more.

One of the unique development trends in local student condominiums are the inclusion of Builder rental incentives for potential investors. With ICON330, investors receive a rental warranty from the Builder which guarantees student rental rates for each unit based on a per bedroom basis. The rent guarantees also come equipped with full-service property management, including leasing and rent collection. According to the Developer’s figures, each unit should cash-flow from day one of possession.

ICCON330 is officially sold out, however there are a number of units for sale on the secondary condo assignment market. Early investors in a condo development sometimes seek to sell their agreement of purchase and sale at a profit. This allows interested buyers to acquire a unit in a sought after development that is already sold out. The location of ICON330 is irreplaceable and some units still for sale are close to Builder prices. This makes the development a still viable investment, even it it’s officially sold out. Contact Benjamins Realty if you’re interested in ICON330, we may be able to secure you a unit, we’ve already worked exclusively with some investors who’ve listed their unit.

Here’s Our List of Available Units

ICON330

330 Phillip St. before the ICON330 site developemt

ICON330

The ICON330 site as of October 26th 2015

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