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REGISTER TO RECEIVE PLATINUM FLOOR PLANS AND PRICING FOR

Universal City East

AMENITIES
GALLERY
MAP
  • OVERVIEW
  • 1496 Bayly st
  • Downtown Pickering
  • Chestnut Hill Developments
  • Completion: TBD
  • 27 Storeys
  • 302 Units

Universal City East, Pickering

Universal City East by Chestnut Hill Developments is proud to offer the fourth building in it’s master-planned community – Universal City. Located at 1496 Bayly Street in Downtown Pickering Universal City East is one of the best investments in the GTA.

Only 30 minutes from Downtown and only minutes from the Pickering Go Station, Pickering Town Centre, Durham Live (DLive) where you will have shopping, groceries, cafes and dining all at your doorstep.

Universal City East offers an opportunity to own a place in one of GTA’s fastest growing cities – a neighbourhood designated as an Urban Growth Centre – on the cusp of massive development, infrastructure and growth.

Reasons to Buy:

 

  •  Get Downtown in 30 Minutes by GO.

  •  Easy access to Highway 401 and 407.

  •  Minutes to Pickering GO Station, Pickering Town Centre, Durham Live (DLive), groceries & dining

  •  Durham Live will bring 150,000 sq ft or retail space, an amphitheatre, a casino and 15,000 new jobs to the neighbourhood.

  •  Great balance of affordability and location.

  •  Neighbourhood classified as an Urban Growth Centre.

  •  Pickering population expected to double by 2040.

  •  A smart investment in an area on the cusp of growth.

FLOOR PLANS

  • Studio
  • 1 Bedroom
  • 1 Bedroom+Den
  • 2 Bedroom
  • 2 Bedroom+Den
  • 3 Bedroom
  • 3 Bedroom+Den

AMENITIES

  • Party Room
  • Outdoor Terrace
  • Outdoor Pool
  • Fitness Centre

PRE-CONSTRUCTION CONDO FREQUENTLY ASKED QUESTIONS

The process to buying pre-construction condos can be quite rushed. When you register with us for a project, we’ll reach out to you to get your specifics, so it’s good to know in advance the type of unit you’re looking for and your budget. If you register ahead of the sales launch and are serious about buying, we will get you to fill out a builder suite request worksheet.
We are unable to guarantee that the suite you request will be allocated to you and your agent. Many pre-construction sales launches are extremely competitive and fast-paced. To increase your odds of receiving an allocation it is best to be flexible on the type of suite, floor and exposure that you have requested. You are also in no way obligated to purchase the suite you’ve been allocated.
The deposit structure on pre-construction condos will vary from project to project but generally breaks down like this:

$5,000 on signing
balance to 5% in 30 days
5% in 60-90 days
5% in 120-270 days
5% on occupancy
Getting a lawyer, preferably one who is familiar with pre-construction contracts, is never a bad idea. We would encourage our clients to have a real estate lawyer review their Agreement of Purchase and Sale during the Cooling Off period. If you need help finding a lawyer, we can introduce you to our lawyer who handles many of our pre-construction clients.
On closing, which is three to four years after signing, you will need to pay closing costs. As with any property purchase you will have to pay:

• Legal fees (about $1,500-$2,000)
• Municipal & Provincial Land Transfer Tax (this will depend on the price of the property–use our Land Transfer Tax calculator )

In addition to these, pre-construction closing costs also include:

• Development charges (these vary per project depending on the unit type but can range from $5,000-$12,000)
• HST (for investors, which can be rebated back up to $24,000)
By submitting a worksheet, you increase your chances of getting your preferred suite. In essence, it is a suite request sheet. It shows the condo developer that there are interested buyers. Agents are then allocated suites based on the worksheets they submit.

Many pre-construction launches are fast-paced and extremely competitive with buildings selling out in 24 hours. In these launches a suite request worksheet submission is necessary to ensure that you actually have a possibility of receiving the suite you’d like (but this is never guaranteed).

You are not guaranteed to receive the suite you request and you are also in no way obligated to buy the suite you’ve been allocated.
Pierre’s expertise in Toronto’s pre-construction condo market has earned him Platinum Broker status among Toronto’s top developers. This means that when you buy or invest with the Pierre Carapetian Group team, you have your pick of the best floor plans and the lowest pricing available.We represent you, not the builder and we will always guide you towards projects that we believe are a good investment and have great resale value.
Yes. As we mentioned, the process to buying pre-construction can be quite competitive and rushed. After you’ve signed an Agreement of Purchase and Sale with the builder you are given ten days to look over the contract and ensure everything looks good for you. Keep in mind, the cooling off period is ten consecutive days, not ten business days.
You won’t need a mortgage pre-approval right away, but it is always best to speak to your mortgage professional so that you fully understand your borrowing power.

You will however need a Mortgage Letter that states upon the building taking occupancy you will be able to afford and carry the property. Typically this is required within the first 30 days of signing. It is always a good idea to get a mortgage pre-approval in the beginning of your real estate journey so that you know how much you can afford.
This will depend on whether you are buying as an end user (planning to live there) or an investor. In Ontario, there are two types of HST Rebates in place for newly built properties.

If you are buying as an end user, typically the Ontario HST rebate is assigned to the builder directly upon closing, allowing the builder to essentially pay the cost of the HST from your purchase.

If you are buying as an investor, you must pay the HST upfront at closing and have your lawyer file for a full HST rebate, refunded 4 to 6 weeks later provided they have a one year lease in place.
A FREE GUIDE TO

INVESTING IN PRECONSTRUCTION

TORONTO CONDOS

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