TC4 Condos – Interview with Jason Lam
TC4 Condos – Highlights
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TC4 Condos – Zero Minutes to Subway: Transcript
Roy Bhandari: Welcome everybody, this is Roy Bhandari and today we are at the amazing sales office for Transit City Condos and I am joined by Jason Lam, Vice President of Sales and Marketing for CentreCourt Developments. So Jason, thank you very much for your time, I know it’s been a hectic week time, especially with the launch and everything going on, so thank you very much for your time.
Jason Lam: I’m glad that we can finally arrange the time to do this.
Roy Bhandari: Finally came together. So, we’ve got a lot to talk about.
Jason Lam: We do.
Roy Bhandari: So, just to give sort of the overview of some of the bullet points I want to hit on, Transit City 4 Condos is gonna be launching very soon, TC4 Condos.
Jason Lam: Early April.
Roy Bhandari: Early April. So, I want to start by talking about the thing that’s got most of our investors and a lot of the agent community excited, and that’s the price points, and then we’re gonna dial it back a little bit. I wanna talk about CentreCourt Developments. They’re doing some amazing things in the market right now. I want to highlight some of those things. I want to talk about the enormous growth that’s happening in Vaughan right now. There’s a brand new downtown being designed from scratch.
Jason Lam: Yep. Just outside here. We’re looking right at it.
Roy Bhandari: And then focusing specifically on the hundred acre parcel that Transit City is going to be built on, the SmartCentres Place, and then, once we’ve got all that out of the way, we want to talk about TC4 Condos, itself.
Jason Lam: Okay.
Roy Bhandari: So, let’s start from the top, price points. As we know, we’ve seen some escalation in pricing. You look at a lot of condos and knowing what we know about this condominium, I genuinely believe this to be probably one of the best options by some distance that an investor looking in the market right now, will look at and want to get into. Give me sort of the price points that you’ve been showing with us, and I’ve got … like I said, we’re excited, our investors are excited, so give us a rundown there.
Jason Lam: I’ll correct you and I will say that is the best price point in the marketplace relative to our story, our location, the infrastructure, the development team, between SmartCentres, the partnership with CentreCourt Developments, but to drive it home, I think a lot of people in this marketplace are trying to get into the market, whether it’s by way of investing or they’re an end user, or they’re downsizing, we’re preaching starting in the three hundred thousands, and all the way to the four’s and up to the five’s. We have nothing over six hundred thousand-
Roy Bhandari: For now.
Jason Lam: For now, and I think that’s really attractive, and I think it’s great to say these price points, but I think when you understand the community, when you understand your proximity to global employers. AAA, first-in-class commercial and retail infrastructure, and most importantly, AAA public transportation infrastructure, when the subway’s across the street, right in front of you, right before your very eyes. I think that really changes people’s tune on that value proposition.
Roy Bhandari: 100 percent. I-
Jason Lam: So, you’re getting value out of that, more than anything else.
Roy Bhandari: Exactly. Over the next fifteen, twenty minutes, we’re gonna talk about, and as that story unfolds, I think anybody watching this video will really get a sense of why we made that statement. Som let’s dial it back a little bit. I want to talk about CentreCourt Developments.
Jason Lam: Okay.
Roy Bhandari: Over the last decade or so, they’ve really come to prominence as arguably one of the most sought after developments from the investor’s standpoint. You know, the agent community, again, I keep referring to the agent community, but they’re such an important piece of this, ’cause you get a sense of the excitement of that builder’s … Give us a rundown of they’ve gotten to this level.
Jason Lam: They start in 2010. Between then and now, we’ve fully completed 2,500 suites across five buildings, and we currently have five buildings under construction, including Transit City 1, 2, and 3, and really what they’re all about is just having core principles that they’re driven by that make them want to be the best in class. They compare themselves to their competitors and quantify, through statistics and data, where they can be better, how they can be better. You talk about the agent community sort of being quite aware of what we can do and our track record and I think that’s important, because I think a lot of the brokers are frontline. They know the developers. Everyone knows they’re the big brands and the GTA’s, so for agents to say that about us, I think that speaks volumes, in what we do and how we conduct ourselves and how we dot our business. So, I think that that has to say a lot about the success and the continued growth of CentreCourt Developments, and there’s so much more to come, for us.
Roy Bhandari: The future is very, very bright.
Jason Lam: Very much so.
Roy Bhandari: A couple of things that I always refer back to, and this is not true of all developers, and I’m not saying this just because you’re sat here, but we legitimately have a core group of buyers that tell me, “We will only buy CentreCourt condominiums, and that’s because there’s sort of become this brand attached to CentreCourt. You know they’re going to great locations. Without even seeing the floor plans, you know they’re going to be excellent. You know build quality’s going to be excellent. So, all the sort of things that you believe to be important for a new kind of developer, they check all those boxes.
Jason Lam: It’s important that you said that, ’cause you’re right. Above all else, having great principles and wanting to be the best is our team, the entire team, from line acquisition all the way to customer care, we’re fully integrated. So, everyone’s on the same page. We’re a fully aligned development company, but we are incredibly unique in the sense, our execution is probably best in class. So, hitting delivery timelines, making sure our quality’s the best in the business or incredibly competitive, the entire experience, from buying to closing, [inaudible 00:05:59], the entire process is we want to make sure that we stand out above the rest. Having zero days in Intermoc, you can see, is one of the key things that separate us from the rest of the market. So, I think we are in an incredible position today, but I think you’ll see over the next three, five, eight, ten, fifteen years, the CentreCourt brand, the quality, the reputation, the sights, we, as a group, have such a huge mountain to climb, and I think we’re just getting started. So, awesome that you’re saying these things, but I think there’s so much more for us to accomplish.
Roy Bhandari: Awesome. I do want to move on, but I do want to touch on two very quick things. Number one is, you mentioned it’s all integrated, and it’s not always the sexiest point on the brochure, but the fact that CentreCourt have in-house construction is probably one of the most important pieces of the puzzle, and there’s not many developers that can say they have that, and the fact that CentreCourt has invested in that, I think is so, so important, and number two is your construction timelines. I mean, and I’m coming back to the agent community again, but because we’re on the front lines, we deal with builders all the time. Your date of starting sales to the time that you actually start construction is unbelievable, like we look out across the road right now, TC 1, 2 and 3 are-
Jason Lam: We’re catching up to buildings that sold, call it, two years before …
Roy Bhandari: Yeah, it’s unbelievable.
Jason Lam: … three years before, and downtown, there’s no different. There are, if you pass by a CentreCourt building today, such as 411 Church, you’ll see the difference between our building and buildings that are surrounding, and all that comes down to execution and bringing that construction team in house, which is the construction aspect is the biggest part. Sales and marketing is great, but the biggest part is the development, the business development of it, and bringing this project to life, and then building it, and building it is the one part that I think people often either overvalue or undervalue, and the truth is, it is the biggest part, and for us to be able to hit our targets, to build to absolute the best quality in the business, I think that speaks volumes about us as a development company. We’re not just for show, and we do what we say, and we put our money where are mouth is, and when it comes to execution, I don’t think there’s anyone better in the market place, and if there are, I think we’re definite easy in the top bracket of developers in the GTA.
Roy Bhandari: Awesome. Let’s talk about Vaughan.
Jason Lam: Let’s talk about Vaughan.
Roy Bhandari: Let’s talk about Vaughan. So, Vaughan is sort of in the mist of this building, what’s internally known as the VMC, the Vaughan Metropolitan Center. It is the brand new downtown Vaughan that is being developed. It’s 400 acres. Of the 400 acres, Transit City will sit on probably the most core 100 acre portion of that land. So, Transit City’s sitting on a piece of land that’s known as SmartCentre’s Place.
Jason Lam: SmartCentre’s Place is a very unique community for us.
Roy Bhandari: Yes, so give us the rundown of what makes SmartCentre’s Place special?
Jason Lam: SmartCentre’s Place is centerized. It is one of very few communities, master plan communities … truth is, is a master plan city that is integrating all of these elements, infrastructures, simultaneously.
Roy Bhandari: I want to pause you one second, Jason.
Jason Lam: Go ahead.
Roy Bhandari: So, you said, “Master plan.”
Jason Lam: Yeah.
Roy Bhandari: I think it’s so important to put some context on this. This is a 100 acre master plan, within a 400 acre master plan. Before this SmartCentre’s Place was realized, the largest master plan in Toronto, that is often touted as being one of the biggest in North America, with 69 acres, and that’s Weigent Park.
Jason Lam: Right.
Roy Bhandari: This is not double, but it’s 1.5 the size of that.
Jason Lam: It gives you scale.
Roy Bhandari: Yeah, it’s always difficult to picture, “Okay, what is 100 acres?” It’s huge. City Place, I believe is only 55 acres, twice the size of City Place. So, when you get to that idea, 100 acre redevelopment is enormous.
Jason Lam: Absolutely.
Roy Bhandari: So, I do want to put that context on, so carry on.
Jason Lam: And I’m glad you did.
Roy Bhandari: Carry on.
Jason Lam: And the vision that SmartCentre’s has for this community, is really … has never been done before in the GTA. You’re bringing in global employers, where you’re building AAA, five star, commercial infrastructure offices and retail space, that a lot of these global companies, they’re going to want to move into these spaces, and then you sort of layer in this huge story that is our public transportation infrastructure, and it is on our land. It is at your doorstep. If you want to get into the subway, if you want to hop on a Veeva Bus, the YRT, if you want to hop on Brampton Züm, you can do it by just opening the front door, and there’s not very many communities that could say that these items are really at your doorstep. A lot of those are Downtown Core Toronto, Yonge Street, or along the university corridor. There’s not many pieces of land that could call that.
Roy Bhandari: I like that you brought up Yonge Street, because of the Vaughan, again, this is all trying to put context on what they’re doing here. A lot of people understand what happens in Downtown. Of the 400 acres, this 100 acres, the clearest way to think about what’s happening here, this 100 acres is almost like being on Yonge Street in Downtown Vaughan. That’s the correlation, because you’ve got the AAA commercial buildings. We’re standing right now in the KPMG Building. You’ve got access to the subway. You’ve got access to the Central Park, which is obviously going to be a huge feature of this. We’ve not even mentioned the park, yet.
Jason Lam: No, we haven’t gotten there yet.
Roy Bhandari: So, this piece of land, like I said, it’s so important to understand not all of the MC’s built the same. This is really the prime pocket of lead.
Jason Lam: There’s never been a master plan community build to this quality with this much infrastructure, and I think that’s what separates SmartCentre’s Place, and that’s what will make this the true Downtown of Vaughan. Master plan communities sound great, but those are typically just residential. We are integrating so much more than some retail, some commercial. This is a huge game changer in the marketplace, and I think they’re going to set the table. I think SmartCentres is going to set the table for how to build a … to urban plan and to build a community properly, and I think they’re taking their time. They’re taking the right approach. They’re bringing the right brands. They’re sparing no expense.
Jason Lam: This will be the premier community, and it’ll be really cool to see this community erect over three to five years, ’cause I think when we first sold Transit City 1, 2, and 3, the subway wasn’t here, and the bus terminal wasn’t here, and the PWC Building just behind you there, was not here, and we’ve done more in two years, less than two years, in this community than I think a lot of other communities have had, that have done in five years, ten years, and you can’t build a subway, or have highways, or have this type of infrastructure overnight. They don’t happen overnight. So, opportunities like this to investor, or buying a condominium, across the street from all of this greatness, doesn’t come along very often and I think this is going to be easily the best value, hands down, within the GTA.
Roy Bhandari: For sure. I want to touch on the nine acre park. It runs the strip in the middle of the SmartCentre set place. When we show you the rendering, you can start to imagine it’s going to be lined by amazing retail, coffee shops, restaurants, and that’s all designed, it’s done very intentionally to create this community.
Jason Lam: This community that is self-sustaining. You won’t need to go outside of SmartCentre’s Place to run an errand, to get your groceries or to find a job or to get downtown. This will be fully self-sustaining. So, we will attract all walks of life, from the younger generation, to the elderly, downsizers, young families, young professionals. The nine acre park, designed by Claude Cormier is a quintessential element to this community to really give us that sense of outdoor feel, while sort of building this urban community, and it’s going to be surrounded by commercial and residential. There’s still a totally unknown story of what’s to come, and I think we know … what we know today is incredibly impressible, that no other community could really claim.
Roy Bhandari: I think the point of telling all this story is that to build a successful, a good master plan community, where property values will grow, where people will want to live. It’s not just about condo, condo, condo, condo. It’s about commercial space, which we have. It’s a function. It’s running.
Jason Lam: Not just any, right?
Roy Bhandari: Top of the line, AAA, KPMG, PWC. It’s about having great public space, where people can go out and enjoy. We have it. We talked about the nine acre park, which is designed by one of the best landscape architects in Canada, and then it’s about great retail, which we had book in phase one. The retail plan is starting to come together, and then it’s about residential, and what we’re talking about here is that all of these elements are coming together in this piece of land, and it’s designed by one vision.
Jason Lam: Simultaneously.
Roy Bhandari: And that’s the most important that we’ve saw, and so, we are so excited about this.
Jason Lam: So am I, honestly. It’s the most unique. It is the most exciting story I’ve had the privilege to tell, to share, to work on.
Roy Bhandari: And how often do you get the chance to invest at the ground level of a Downtown of this? This doesn’t happen. It doesn’t happen.
Jason Lam: This will be a massive community, and this is, like you said, it’s ground floor, before things really start to take off. I mean, even if you look outside, look at all of that walking traffic. There are a ton of people that commute through and come through this community, and we’re not even close to sort of realizing the potential, and the vision that is this community, so once it’s up and running, a quarter-way through, a halfway through, once it’s finally done, it is going to be a complete game changer. It won’t just be the Downtown of York, [inaudible 00:16:05], or Vaughan. It’ll be the Downtown, the core of York Region. It’ll be a major outlet, a major hub, of not just public transportation, but culturally, through employment, it’s going to be really the pinnacle of York Region.
Roy Bhandari: Awesome. Before we start talking about TC 4, the one piece that we’ve not spent a lot of time on is the transit.
Jason Lam: Right.
Roy Bhandari: Obviously, last year, that the Vaughan Metropolitan’s Subway Station opened, and it opened up so much, a lot of interesting things that weren’t here before.
Jason Lam: Huge opportunities, like it’s a huge gateway to [crosstalk 00:16:43].
Roy Bhandari: Obviously it’s … yeah. Well, the one I wanted to focus on was York University, because, I’m going to let you tell us about York University, because the way students accessed it before, versus how it’s accessed now, everything’s changed there.
Jason Lam: Everything’s changed.
Roy Bhandari: Take it away.
Jason Lam: And I think there’s so many layers to the York University story. So, the first, I usually get in, or I like to talk about is, it’s a very stable community, and the truth is, it’s an institution in this community. There’s 52,300 students that attend York, 95 percent cannot live on campus if they wanted to, 71 percent commute by transit, and this is the most logical space for them to come live. I mean, we’re three subway stops away. I mean, where do you think a lot of these students live if they are not living on campus? Some are living at home, but there’s a number of, there’s around 6,200 international students that have no home here, and they’re going to want to live in a premiere location that has all the right conveniences that is five minutes away, five minutes away.
Jason Lam: I think there’s really no better place, and what it does it diversifies our community. As an investor, if you’re looking at this and you’re saying, “I want to buy a condominium building across the street from PWC’s office and KPMG’s office,” I think that’s a great story. I think when you say, “I want to buy where there’s a subway,” we’re literally outside my door, and all these other extensions of public transportation infrastructure, that’s a great story, but when you also say that there’s 52,000 students that you can rent to, that you can resell to, I think that really diversifies us from a perspective of economic protections, ’cause in good economies, students go to school and they rent, and in bad economies, students go to school and they rent, and I think that days of American Pie are over. I think in a ultra competitive market, like the GT, and in Toronto, and in York Region, I think a lot of these, they get this bad rap that I think is no longer the right call in identifying students, but most importantly, it’s their parents, for the most part, that are paying their tuition, and again, more importantly, is it’s their parents that are ones paying their rent. So, that makes a very stable renter, and that’s what makes this whole community. That’s sort of maybe-
Roy Bhandari: It’s a layer on top.
Jason Lam: It’s just a layer on top. So, I think there’s a lot to say, there’s a ton to talk about when it comes to York University. There’s 7,000 faculty members, and so, I think if anyone attends or works at York University, which is three subway stops away, SmartCentre’s Place, TC 1, 2, 3, 4, 5, and all the other buildings that we’re going to have coming online in the future, with all this infrastructure, this is the place to be. There is no other community to live at, and I can tell you that this will be highly sought after when it’s all said and done.
Roy Bhandari: So, we haven’t even talked about TC 4, yet.
Jason Lam: No, we haven’t.
Roy Bhandari: Right at the top, we said, “We believe this to be the best value prop on the market today.” We talked about prices from the 300’s. When you start layering on the reasons why your ground level for 100 acre, master plan, top level community that already has jobs here, that has amazing public spaces, amazing retail, you’re next door to a subway that opens a door to the entire city, including York University, and you start to see this picture come together. So, I do want to talk about Transit City 4 now.
Jason Lam: Right.
Roy Bhandari: Give us the sort of quick rundown in terms of how many units, how many stories. Give us the bird’s eye view and then we’ll focus on a few key areas.
Jason Lam: TC 4 is just east of Transit City 3, on the opposite side of [inaudible 00:20:30], and there, we’ll have a 45 story condominium building housing, approximately 530 suites. Just to the southeast, they’ll have a connection through a sky bridge, through the MNA program, and they’ll be connected to a TC 5, where we’ll have a 50 story building, housing approximately 560 suites, and at the doorstep of TC 4 and 5, we’ll have a one acre park, again, this time by Claude Cormier.
Roy Bhandari: That’s what I was going to say. So, what I was going to do is there’s a lot to talk about in TC 4, like we haven’t, that’s what I’m saying.
Jason Lam: I’ll let you lead the way, I’m sorry.
Roy Bhandari: So, let’s start on the ground level, and then work our way up.
Jason Lam: Sure.
Roy Bhandari: So, before you walk into your door, you’ve got a one acre park at your doorstep.
Jason Lam: Absolutely.
Roy Bhandari: The value of that, I don’t even, you can’t really attach a value to that, ’cause it’s so unique.
Jason Lam: It’s hard to quantify. I think the one thing that people will say when they’re living in a condominium is, “Where’s my green space? Where’s my outdoor space?” And I’m sure we’re going to talk about amenities momentarily, so we can get to that.
Roy Bhandari: We will. We got to get up.
Jason Lam: We got to get up, so when you have a one acre park, to give you some perspective, it’s larger than Dundas Square. When you have a nine acre park that’s, obviously, very walkable, too, it gives you optionality, but it gives you this sense of community. It gives you this sense of being outdoors and having that connection to life.
Roy Bhandari: I think that if we put these buildings together, we’re going to talk about four or five more things, if that was the only thing we talked about, I would be like, “That’s amazing. That’s incredible,” and this is what, it sort of elevates. So, the park is incredible.
Jason Lam: Park is great.
Roy Bhandari: I think it’s a huge feature that cannot be understated. I’m not going into the lobby, yet, I’m going underground. I’m going into the parking structure. You guys have a really cool thing going on with Tesla.
Jason Lam: Absolutely.
Roy Bhandari: So, tell us about that.
Jason Lam: As much as I think everyone loves the public transportation infrastructure, for those of the people that need to run an errand, that want to arrive somewhere in style, you’re going on a date or you’re picking up Mom and Dad, we’ll have Tesla’s on a car share program available to all the residents of TC 4 and 5. So, it’s just another great story of many great stories that get lost in translation when you’re talking about the huge vision of SmartCentre’s Place.
Roy Bhandari: We’re not going up to the lobby, yet. We’re going to check out the retail space.
Jason Lam: Okay.
Roy Bhandari: We know there’s going to be some retail, and again, retail’s always … nothing gets finalized ’til later, but we know there’s certain visions in place for the retail, so walk us through that.
Jason Lam: Oh, I think you brought it up earlier, is the vision on Transit City 1, 2, and 3 was to bring sort of elite food and beverage bouquets, obviously, one of the best in class, in Downtown Toronto, so we’re bringing you that vibe up here. One of the key elements to urban planning, for us, is making sure that the daily conveniences are fully in line with the residences. So, I think one of the next steps for us is to incorporate a five star grocery component to our community. So, if it’s not in our building, it’ll be literally across that park, but our intent is to bring AAA retail to our communities for the best and absolute most convenient access.
Roy Bhandari: You couldn’t ask for a better partner for the SmartCentre, or for retail.
Jason Lam: So, the grocery store is going to be part of our story, part of our community, literally at your doorstep, just like subway access will be at your doorstep. So, it’s really just so much to talk about, right? So, let’s get to the lobby, yes?
Roy Bhandari: Let’s get to the lobby. Lobbies are always an important aspect of every building, and again, CentreCourt have gone … here’s the bar, CentreCourt have taken it above the bar. So, tell us about the overall design and specifically the furniture.
Jason Lam: It starts with the design. It’s the details. It’s the ceiling heights. It’s the finishes, the touch and feel, and that’s when you really understand why furnishing with [Hamez 00:24:26] made a lot of sense.
Roy Bhandari: So, this is for Hames. We’re not talking about furniture package by Hamez is a huge deal, and we see this in very, very luxury buildings downtown, and again, this is another element that elevates this building.
Jason Lam: Exactly. When you come home to your home it’s going to feel like you’re walking into a five star hotel, and once we get the renderings out and get to see visually, what that lobby looks like, you will really understand, incredibly quickly, how all of this ties together. This is not just the most connected, a most central location, in York Region, in SmartCentre’s Place. It’ll also be the most luxurious building in all of York Region, in SmartCentre’s Place, and I can say that confidentially, and it’ll be the best product we turn out in our huge laundry list of condominiums that are completed or under construction.
Roy Bhandari: Awesome. Let’s jump up the elevator and check out the amenities, ’cause the amenities are again, just-
Jason Lam: Pretty awesome.
Roy Bhandari: Yeah.
Jason Lam: State of the art, really. 24,000 square feet of indoor and outdoor amenities. It’s the largest amenity programming in the GTA. It’s really hard to quantify 24,000 square feet, and I had a lot of trouble quantifying when they show you the key play, which is just this huge space that is programmed for absolute convenience and enjoyment of the residences, it is a playground for you, your family, your friends, whether it’s fitness or yoga, whether it’s [inaudible 00:25:58] corking space, we have an indoor running track that overlooks this elite, almost this elite fitness area. We have indoor basketball and squash courts, take an elevator up and we’ll have a party room, saunas, spa facilities. We have an outdoor pool area, which is cool, that overlooks our one acre park, and we’ll have barbecues and cabanas. There’s so much going on, I’m sure I’m missing something, but when you see the scale and the sheer enormity of this space, you’ll understand 24,000 square feet is absolutely monstrous, like double ceiling heights. Hopefully, by the time this is published, we’ll have the renderings ready, and if not, take a look back, because you’ll understand what that truly looks like.
Roy Bhandari: Awesome. So, we’re going to go up again, and now we’re going to walk into the suites, and again, we sort of eluded to it earlier, but CentreCourt really, really, really do have best in class floor plans.
Jason Lam: They, or we, we actually are very careful in how we design layouts, and what we do is we design layouts from inside out. We design the building through our floor plans, and we let the floor plans dictate how the exterior’s going to look or how it’s going to be shaped, and that’s led to a ton of success on our part, right? And they’re incredibly efficient. They’re going to be very efficient from a cost perspective, both on the purchasing side, and on the maintenance view side, and I think you’re not going to find anything more efficient, well-designed, more square, more functional in the market than anything.
Roy Bhandari: Simple things, right, like every bedroom has a window, which sounds so simple, but you look at floor plans and plates all the time.
Jason Lam: All day.
Roy Bhandari: All day, all night, and it’s the attention to the nonnegotiables, and then like you said, you build the floor plans first, and then build the design of the building around it, and it’s …
Jason Lam: It plays a big part.
Roy Bhandari: It’s the most important.
Jason Lam: If you can design a building that end users, investors are going to be attracted to, aesthetically, but also functionally, and be able to maximize those floor plans, so that they’re efficient in cost, I think that puts your product further ahead than anyone else’s product, and how that impacts pricing, and how that impacts resale, I think you’re going to see some of our best work at TC 4 and 5. If you haven’t already seen it, and you haven’t already got out there, I think it’s a no brainer. When you see the key ply, you’ll see that it is the most efficient key play, I think I’ve seen in a long time.
Roy Bhandari: So, I’m going to do my best to scenically wrap up everything we just talked about.
Jason Lam: Okay.
Roy Bhandari: So, we said right off the bat one of the best value products. We’re talking one bedrooms from the 300’s, one and one and [inaudible 00:28:53] from the 400’s, two bedrooms from the 500’s. This is unheard of pricing, right now.
Jason Lam: It’s been a while.
Roy Bhandari: That’s before you start layering all this stuff in, and then we talked about being on the ground level of a 100 acre master plan community by some of the best master plan designers, not just in Canada, but North America and the world. Incredible.
Jason Lam: Absolutely. Centerized.
Roy Bhandari: Centerized in the best location of the new Vaughan Downtown. We’ve already got commercial here. Some of the best commercial that tenants …
Jason Lam: Absolutely. AAA, you couldn’t ask for better commercial tenants and infrastructure than what we have here, and I’m excited to discover what the next phase is, because that is coming, so …
Roy Bhandari: Nextdoor to the subway, steps to a brand new center park-
Jason Lam: And I’m going to interrupt you on the subway. I think it’s bigger than the subway, in the sense where, yes, the subway’s across the street, but when you exit TC 4 and 5, you’ll see SmartCentre’s bus terminal, and you don’t just have an extension to the subway, you have extension to all York Region, and Brampton. You have Viva, you have York Region, you have Brampton’s Züm at your doorstep. They all come through literally outside your door.
Roy Bhandari: This is the core of the core.
Jason Lam: All these people that are going to be commuting by way of getting to the subway, getting to work, or getting into York Region, or getting into Brampton, they all have got to come through SmartCentre’s Place, the Downtown of York Region, the Downtown of Vaughan. They’re going to realize awfully quick that this is going to be where they want to live.
Roy Bhandari: Yeah. For sure.
Jason Lam: And we talk about our connectivity to subway, which is fantastic. It is the most, if it’s not the best amenity today for a renter, or an investor, it certainly will be in the very short future. From a standard of living, cost of living perspective, in a world of Uber, a vehicle is maybe not the most economic and practical item to be … from a cost perspective, so it actually connects all of Downtown to all of York Region. It connects Downtown to Brampton, in a different way. So, I think it’s far greater than that. So, I didn’t mean to interrupt you. You were talking about the nine acre park.
Roy Bhandari: No, no, that’s okay. Please do. I was totally invested to it scenically-
Jason Lam: And there’s no such thing. The story’s just so incredible.
Roy Bhandari: It is. So, yeah, we’ve got the TTC, not the subway, the TTC access. You’ve got the nine acre park. You’ve got the public space, and then we start talking about the building, itself.
Jason Lam: Right.
Roy Bhandari: At the foot is a one acre park. You’ve got amazing retail planned. You’ve got this amazing lobby with Hames furniture that’s top of line. You’ve got this really neat Tesla car share program, for the people who don’t need a car, who do commute by … use the TTC. Then you’ve got this incredible amenity program, and then floor plans and price points that just attract every investor, and you can really quickly see why … you can just sense the excitement from myself and yourself and I think it’s awesome, so was there anything I missed? Please say no.
Jason Lam: I don’t think so. I think when you understand the vision and the vision that SmartCentre’s has for this community and you can literally walk out the subway and see everything before your eyes, it’s something you’re going to be awfully excited and proud of to purchase.
Roy Bhandari: For sure.
Jason Lam: It’s going to make you giddy, and to be a part of this, I think it’s a rare opportunity in the GTA, and I think it is going to be an amazing story to see grow from not just 2017, before all of this, but in five years from now, three. I’m excited to find out what it’s going to look like two years from now.
Roy Bhandari: Yeah, for sure.
Jason Lam: So, it’s going to be a premiere community, once it’s done, and we’re going to look back, 10 years, 20 years from now and say, “Wow, that was nothing.” Just like all the other master plan communities you talked about, and it will be a completely different space, and it will probably be the premiere space in all of York Region.
Roy Bhandari: Amazing, so if clients of ours is interested, what do they got to do to get a unit at Transit City 4 and 5?
Jason Lam: They’re going to contact their trusted real estate broker, such as yourself, and they’re going to try to get more information.
Roy Bhandari: Amazing. Thank you so much.
Jason Lam: Thank you so much. Thank you.