Atria Development’s 100 Bond St. East project in downtown Oshawa, a symbol of how that city is changing, has just passed a milestone.
The 239-suite rental tower, which Atria launched just 10 months ago, has topped off. Already, more than 20 of the apartments have been leased, with occupancy scheduled to begin early next year.
“The weather has been kind to us. We only lost 34 construction days, and half of those were on account of high winds,” says Atria principal Hans Jain of the construction progress at the downtown Oshawa site.
The 12-storey building, the first of three that Atria is bringing to the centrally located two-acre site, boasts condo-style apartments offering conveniences such as climate control, ensuite washer-dryers and modern appliances.
Following the topping off, 100 Bond Street’s rental centre opened its doors on August 18th, letting prospective tenants browse suite layouts, check out sample finishes, and view kitchen and bathroom layouts.
100 Bond Street East isn’t the first project Atria has undertaken in Oshawa — in 2003, the builder transformed an office building into residential units — but it’s the largest in scale, Jain notes.
“This is the biggest of all our projects to date, so it represented a substantial risk for us,” he says. “But we saw how the downtown was starting to develop. We managed to lock up this site more than a decade ago, and because vacancy rates are so low, it made sense to build new rental stock to serve the new demand.”
Once a motor city, Oshawa, much like other former Ontario industrial centres including Hamilton, is transforming. Attention is shifting to tech and education with new businesses and institutions opening in the downtown.
The city has been an enthusiastic supporter of Atria’s project, which Regional and City Councillor John Aker calls, “an exciting project. There are a tremendous number of people working in downtown Oshawa. The 12-storey Bond and Mary development will provide much needed living space for those people working in the downtown.”
Rents at 100 Bond Street East start at about $1,000 for junior one-bedroom suites up to $2,200 for two-bedroom-plus-den apartments. Tenants will begin moving in around early 2017, and once they do they will benefit from free family memberships to the YMCA next door, the result of a special arrangement Atria negotiated.
For more information about 100 Bond Street East and to book your appointment online, visit 100bond.ca.