Tridel is just putting the finishing touches on a new 335-unit rental tower at Yonge and the 401, just south of Oakburn.
The building, called the Harrison, is owned by the
KG Group, which owns several rental buildings in the area.
The building, which began construction in the spring of 2009, is part of Tridel's master-planed Avonshire development, which also includes the Avonshire and Aristo condo towers, and the Parkside townhomes.
According to Jim Ritchie, vice president of sales and marketing for Tridel, "At least 25% of the tenants are coming from outside of the GTA," given the relative paucity of purpose-built rental buildings to choose from in the outlying areas. He also says that a rental building owned by a single entity, as opposed to condos that get rented out by individual owners, is attractive to some tenants who like what he calls the "security of tenure" � their unit will not be sold out from under them.
Tenants have begun moving in, and have been offered two months free rent on signing an 18-month lease as compensation for the fact that not all of the building's amenities have been completed yet.
Writer: Bert Archer
Source: Jim Ritchie
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