MIXED USE

MAPLE LEAF SQUARE

65 Bemner Blvd, Toronto

Lanterra Developments

architectsAlliance

Munge Lueng

  • 54
  • 448
  • 452 – 1,990 sq. ft.

Results

The development was 100% sold out within 14 months allowing for both buildings to be built together, saving time and money for the developer. All commercial and retail space was 100% leased prior to delivery.

Challenges

  • Priced higher than the market at the time ($450 PSF vs. $390 PSF)
  • Large mixed-use development with large project team and multiple phases
  • Parking could only be purchased by 40% of the building (and no second spaces allowed)
  • Perceived isolated location in the new “South Core”

Strategy

Due to its prices being so far above market at the time, special efforts were made in the pre-launch stage to ensure that the product would be perceived as superior in every way to its closest competitors. Special time and attention was paid to the sales office, model suite and branding/marketing campaign. Dedicated support from a senior team leader with strategic support from other senior staff ensure no detail in the complicated project was overlooked. During the sales period strategic incentives were used to attract buyers after the initial launch.