Station No. 3 is a six-storey, mixed-use building featuring 160 residential units and 8,907 square feet of divisible retail space for sale or lease. Strategically located just south of the intersection of Brock and Dundas Street, known as the “Four Corners,” this development positions itself as one of the top commercial nodes in Whitby. The Town of Whitby’s Official Plan designates the Four Corners as a Major Central Area, emphasizing the intensification of commercial development. The retail space is expected to be completed and available for turnover by Q3 2024.
– Paying down the principal builds equity in the condo unit, offering a financial benefit not found in leasing arrangements.
- Security of Location
– Ownership provides long-term stability and security; owners don’t face the risk of being asked to vacate.
- Predictable Costs
– Locking in long-term mortgage rates ensures financial certainty and eliminates unpredictable market rent increases.
- Tax Benefits
– Potential write-offs for owned units, including depreciation, operating expenses, and mortgage interest.
- Capital Benefits
– Capital investments in the condo unit increase property value, while improvements to leased premises only benefit the landlord.
- Borrowing Power
– Growing equity provides access to working capital, supporting business growth.
- Long-Term Benefits
– Long-term advantages may include personal use of the unit, generating rental income, or the future sale of an appreciated asset.
- Flexible Exit Strategy
– Owned units offer multiple exit strategies, such as renting to a third party or selling the unit.
Station No. 3 presents a unique opportunity for businesses to own retail space in a high-traffic area, providing not only a place for operations but also potential long-term financial benefits.
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Maziar Moini Broker
Home Leader Realty Inc.
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