Adi Development Group is hoping a healthy dose of innovative in-suite technology and a private car-sharing program will make phase two of its Valera condominium development in Burlington, Ont. even more attractive to potential purchasers.
The original Valera condos sold out in just two days, and optimism is high for the March 2 sales launch of Valera 2 (Editor’s Note: The launch date has been updated as a result of new information from Adi Developments). While priced attractively — with much to offer in an uptown Burlington location easily accessible by major highways, GO trains and public bus transit — the development will also offer some perks which are not yet readily available to condo buyers.
“We believe in technology enhancing the living experience from a service, security and convenience perspective, and our focus on our customer experience continues to drive us to innovate and find solutions to serve them better,” said Adi president and chief executive officer Tariq Adi. “I wouldn’t say it’s one of the main reasons why they’re buying, but I definitely think that they’re loving the concept of it and the future potential of it.”
Adi’s Home+ smart building technology
Adi’s Home+ smart building technology system was designed by software company SmartONE Solutions Inc. and will be integrated in partnership with Bell Canada. It involves fibre optic wiring throughout the building, a dedicated smart network and ultra-high-speed Internet of 1.5 gigabytes compared to the 100 megabytes that’s more common in the area.
The centralized application integrates keyless entry, climate control, security, energy-use tracking and other convenience features which will enable residents to monitor and operate systems and features of their homes via an in-suite digital wall pad or mobile device. The cost is absorbed in the purchase price of suites.
The Internet of Things will enable Home+ to communicate with future applications which offer the ability to control such things as Internet Protocol cameras, smart appliances, blinds, music and entertainment systems, fireplaces, elevator call buttons, enhanced security features and more.
“If they want a dog walker or dry cleaning, we’re going to partner with some trusted businesses and bring those services locally to our buyers through the application,” said Adi.
Adi’s car-sharing program
Rather than working with car-sharing companies such as Enterprise CarShare or Zipcar, Adi plans to create its own similar program in which users will be able to use the Home+ app to see what cars are available and make a reservation.
The program will launch at Adi’s StationWest community in the fourth quarter of this year or in the first quarter of 2020 and will roll out with 10 to 15 cars to Valera, Nautique and other sites in the pipeline.
The hope is that it will: reduce the parking requirement imposed on Adi developments during the municipal approval process; provide value and convenience for residents; and reduce the carbon footprint by cutting down the number of vehicles on roads.
“We need to pilot it and see how it works,” said Adi. “There are studies that show that, in other urban centres, one car share can reduce vehicular dependency equivalent to 10 cars.”
Adi’s Valera development
While these features should capture people’s attention, Adi believes the Valera development and the Burlington condo market have a lot to offer on their own. The nine-storey, 161-unit Valera building, which was priced at less than $700 per square foot, is part of a five-acre master-planned community.
Valera 2, a 10-storey, 183-suite building connected to the original, is the second phase. It will offer well-appointed one-, two- and three-bedroom units starting in the range of $350,000, as well as: gardens; a 24-hour concierge; a private dining/meeting room; a recreation and leisure centre; a pet spa; and a rooftop lounge with a fire pit, swimming pool, and a dining and barbecue area.
Valera 2 will share a wellness spa with a sauna and steam room, a CrossFit-equipped fitness facility, and a yoga studio with Valera.
Burlington condo market offers value
“The challenge for us when we’re in a satellite city like Burlington is getting people to know about it and getting the word out that there’s still hope for people to own a home,” said Adi.
Burlington should appeal to investors looking to rent their condo units as well as those who plan to live in them, according to Adi. For a much lower purchase price, he said owners can still get monthly rents of $1,900 for a one-bedroom suite — compared to between $2,000 and $2,100 in Mississauga, and between $2,200 and $2,400 in downtown Toronto.
“We hold strong that Burlington is still a great value proposition in the GTA. It’s a hidden gem that people haven’t discovered yet, but slowly they’re figuring it out. Developers are figuring it out, too, because we’re starting to see an influx of new developers coming to Burlington from Toronto now.”
Adi has a portfolio of 3.4 million square feet in the development pipeline and $2.1 billion in sales, with more acquisitions planned for future growth. In addition to the aforementioned Burlington developments, the company is also selling The West in Burlington and accepting registrations for 64 Prince Arthur in Toronto.