This excerpt is taken from the National Post
By Jennifer Febbraro
At the Queensway at Islington is another smart cluster of condos. The multi-building project is titled IQ Condominiums, a cheeky reference to the intersection (iqcondos.com), and is developed by the Remington Group. City Councillor Peter Milczyn bristles with excitement about it. “This corner has sat vacant for 20 years,” he says. “It was like a missing tooth, a huge hole in the community. But now it’s going to bring a lot of traffic to the area — more pedestrians, more businesses and more community.”
Mr. Milczyn explains that 10 years ago, around the time of the GTA’s amalgamation, a plan was in place for the Queensway to evolve into a developed pedestrian neighbourhood, not unlike Toronto’s West Queen West area. “Now that’s going to happen because of IQ,” he says. Steps away from the TTC and with easy access to Pearson airport, the location is ideal for entrepreneurs flying in and out of the city on business.
In total, the project includes seven towers that will hold up to 1,200 residential units, with a large urban park at its centre and a 9,000-square-foot terrace. The fantastic outdoor space, which includes landscaped lounging areas, is what Barbara Lawlor, president of Baker Real Estate (the firm handles sales and marketing for the project) calls “a garden in the sky.” IQ has sold out its first building (123 units), is 70% sold in the second (123 units) and is now selling the linking building between the two (58 units).
To spark interest in the property, Ms. Lawlor reveals an intriguing sales strategy. All one-bedrooms — of various shapes and sizes — sell for $247,900 and all of the one-bedrooms-plus-dens are $278,000. “It creates a lot of excitement,” she says. “Because buyers will come in and snag a larger one bedroom on a higher floor for a really good price, it just creates that incentive to check out what’s available.” At the same time, it creates competition among buyers for the best deal.