Exciting news out of Waterloo – HIP Developments sold out their new condo, CIRCA 1877, in less than two days!
This is the first high-rise condo in the region to sell out this quickly, proving that the demand for condo living in Waterloo is higher than ever.
“I expected a good response, but our sales and marketing team had to start cancelling appointments with potential buyers the afternoon we launched our VIP Event. That’s how quickly the units sold,” says HIP Developments President, Scott Higgins.
The sales and marketing team also confirmed that 90% of the buyers are local! CIRCA 1877 features 188 units and is located in the heart of Uptown Waterloo at 181 King St. South. HIP Developments specifically targeted empty nesters and millennials.
“We approached this project in a new way with the goal of challenging the status quo in condo projects,” explains Higgins. “Our vision was to bring design, amenities, tech and food & beverage together in one project in a way that hadn’t been done before in Waterloo Region.”
“The project team of Condo Culture, Condo Culture Design and Him & Her Inc. played a key role right from conception of the idea help craft this project,” he added. “They have helped us prove that the city is longing for a more modern, urban, and tech focused take on living.”
On the ground floor of CIRCA 1877, there will be a new restaurant in the old Brick Brewing Company building (HIP Developments has a history of preserving heritage buildings). While being a great place to hang out and meet up with friends and neighbours, the restaurant will also offer in suite and poolside drink and beverage service! We’ve never seen this type of amenity in a new condo before.
Other amenities at CIRCA 1877 include poolside cabanas, a fitness facility, an indoor/outdoor yoga studio, a green roof community garden, co-working office space with gigabit wifi, and residents have smart thermostats and suite entries that are controllable via a smartphone.
“The sell out of CIRCA 1877 over this past weekend proves that the condo market locally is ready for a shake up,” says Scott Cruickshank of Condo Culture. “This building has created a new record in the community not only by selling out, but also for the forward-thinking trend of lower parking ratios and a focus on urban building amenities & tech features.”
It’s definitely a smart move for HIP Developments to target empty nesters and millennials in the same condo residence. The Ryerson City Building Institute and Urbanation recently released a joint report stating that millennials and baby boomers are demanding the same type of housing.
Big congratulations goes out to all the CIRCA 1877 purchasers, the team at HIP Developments, and everyone else involved in this tremendously successful project! We can’t wait to see what else HIP has in the pipeline.
From the Toronto Star: