SAGE KINGSTON

Introducing Sage Kingston, latest condominium by IN8 Developments

Sage Kingston will be the first Sage Condo constructed in Kingston and will house 325 suites, comprising of studio, one bedroom, two bedroom and three bedroom suites. Additionally, Sage Kingston will include a retail level, green study atrium and an impressive lobby. All Sage projects have fully leased every year earning guaranteed lease rates.

Queen’s University Has a Top Reputation and High Quality Students

• Queen’s University has the highest endowment fund per full-time student in Ontario

• Home to students from more than 123 countries with the fastest growing rate for International Students

• Queen’s is the top choice for Ontario’s elite private school students

• #1 graduation rate in Canada with 89.5% graduating within 7 years**

• 94.7% retention rate in 2017

• 89.1% average grade of incoming students in 2017

• Ranked 5th in the Medical Doctoral category for overall academic excellence**

• Queen’s continues to excel in overall student satisfaction for doctoral schools placing 2ND Canada wide as published in the Macleans 2019 Rankings report

Supply Shortage:

As Queen’s University is surrounded by heritage protected 2 storey residential neighbourhoods, Princess Street is the closest possible street to develop a condo building

• Atlus Group construction cost guidelines show Kingston to be 10% more costly than Toronto in part caused by excavation costs of the limestone bedrock Kingston sits upon

• Heritage protection creates very few lots that can be developed. The higher construction costs will also deter builders from entering Kingston

• New buildings hold more value over time due to continued shortage of supply and minimal competition

Rental Market in Kingston:

• Kingston has the lowest vacancy rate in Ontario
• Healthy vacancy rate is considered to be 3%. Kingston has a 0.7% vacancy rate
• Among new building (built after 2005) vacancy rate is only 0.3%
• Kingston has the 3rd highest rental rates in Ontario only behind Toronto and Ottawa
• Rental rates increased 3.6% 2016-17
• Current supply of student rentals are 50-100 year old houses in poor condition, no amenities, and high maintenance costs
• 1 and 2 bedroom new purpose-built luxury accommodations are scarce and highly sought after
• Students at Queen’s pay $750-800/month for a bedroom in a 5-7 bedroom house. More than 40% more than the same type of accommodation in Waterloo or Hamilton
• Low supply has led to record low vacancy rates and very high rental rates
• In addition, wealthy students and a growing number of international students desire luxury private accommodations and they can afford higher prices