After an impressive investor-driven marketing campaign and a whirlwind launch, LeMine Investment Group and Devron Developments' The Academy at Morningside Avenue and Ellesmere Road has sold out with impressive speed following its VIP Preview Sales Event held in late-June. Interested purchasers lined up around the block for the chance to invest in a condominium in an area with a growing number of university students and a desperate need for short-term housing solutions. 

The Academy is a Kirkor-designed 26-storey condominium project which will bring 339 suites to the University of Toronto Scarborough Campus (UTSC), an area currently home to over 12,000 students, yet only on-campus residences for 769 students. With all of the existing on-campus housing allocated to first-year students, and the campus population projected to grow by more than 400 students per year over the next 20 years, The Academy provided a surefire investment for purchasers who wish to rent or lease out to students or faculty.

Lineup of potential purchasers at The Academy, image courtesy of Devron Developments

The success of The Academy can be attributed to a combination of many things, including the strength of the Toronto housing market, current low interest rates, the location and price point of The Academy, and a marketing campaign aimed directly at the investor market. The yet-to-be-built development is already giving back to the community, with a $30,000 donation to Sick Kids Hospital raised from those who attended the VIP Preview.

Additional information and renderings can be found in The Academy's dataBase file, linked below. Want to get involved in the discussion? Check out the associated Forum threads, or leave a comment in the space provided at the bottom of this page.