The Flats at Rainbow Lake

525 New Dundee Road, Kitchener, ON
Pre-Construction
3 months ago

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$419,000 - $669,000
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Newhomez-H.W
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Details

  • Beds
    2
  • Year built
    April 2024
  • Type
    Condo

Details

  • Beds:
    2
  • Status:
    Pre-Construction
  • Sale Address:
    525 New Dundee Road, Kitchener, ON
  • Parking Purchase Cost:
    N/A
  • Additional Parking Details:
    - 1 parking stall per unit- $25 per parking stall per monthThere are 12 E/V roughed-in parking spaces available for purchase - $7,500/stall
  • Storage Cost:
    N/A
  • Locker Cost:
    N/A
  • Occupancy:
    N/A
  • C.C.maint:
    0.39
  • Additional Storage Details:
    N/A
  • Additional locker Details:
    N/A
  • Sale Start:
    N/A
  • clmonthyear:
    N/A
  • Average PPS:
    $640
  • Has condo:
    1
  • Area Sqft:
    654 - 1065
  • Celling:
    ,9

Key Facts

Essential insights to make informed decisions—everything you need to know in one place.

Name
Value
Name
Value
Locker
N/A
Sell status
Selling
Construction status
Complete
Estimated completion
April 2024
Is active
1
Listing status
publish
Property construction start
To be determined
Number of units count
184
Story
10

Documents

Comprehensive information to support informed decision-making—everything you need to know consolidated in one document.

Name
Value
Name
Value
Brochure

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Site Plan

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Floor Plan

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Amenities Map

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Price List

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Overview


The Flats at Rainbow Lake is a new condo community by HIP Developments at 525 New Dundee Road, Kitchener. The community was completed in Apr 2024. Available units range in price from $419,000 to $669,000. The Flats at Rainbow Lake has a total of 184 units. Sizes range from 654 to 1,065 square feet.

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Reasons To Buy

TRUSTED DEVELOPER: HIP Developments, founded in 2010, approaches real estate with a visionary mindset. Their goal extends beyond simply building properties; they aim to contribute to the development of entire communities, with a particular focus on the Waterloo Region.
HOUSING DEMAND: Kitchener has seen rapid growth in recent years. The region is expected to need more than 70,800 new homes by 2031, yet only around 54,000 are expected to be built, leaving a shortfall of approximately 17,000 homes. This housing shortage will increase demand, pushing property values and rental rates higher.
CONNECTIVITY & EDUCATION: Kitchener offers excellent transportation links, including easy access to Highway 401, Highway 8, Highway 7, GO Transit, ION Light Rail Transit, and Grand River Transit. These systems ensure seamless connectivity within the region and beyond. The Waterloo Region is also known for its prestigious post-secondary institutions, including the University of Waterloo, Wilfrid Laurier University, and Conestoga College, which together host more than 95,000 students.
POPULATION GROWTH & ECONOMIC OUTLOOK: Kitchener, part of the thriving Waterloo Region that also includes Waterloo and Cambridge, is home to over 256,000 residents. By 2051, the region's population is projected to reach nearly 923,000, with over 470,000 jobs. As the population grows, Kitchener will become an even more attractive place to live, driving up demand for housing and making the city a prime location for future growth.


Marketing Summary

WELCOME TO RAINBOW LAKE The “best-kept secret” of the lower Doon area, Rainbow Lake is a stunning private conservation area for dwellers to live a little closer to nature while being in close proximity to all that the city of Kitchener has to offer. The lake itself is over 45 feet deep and stocked with rainbow trout, making it not only a great place to swim, but fish, canoe and explore. Source: Flats at Rainbow Lake

Features Finishes

Suite Features: • 2 Base colour sections to choose from • Kitchen - quartz countertops • Stainless steel appliances - Energy Star rated Dishwasher - Full size stacked washer/dryer - Quality wood grain plank laminate or laminate vinyl tile flooring in entry, living, dining, kitchen, closets and bedrooms - Porcelain tile in bath and laundry

Amenities

Parkette
Visitor Parking
Social Lounge
Parking
Bar
Outdoor Terrace
Electric Vehicle Charging Stations
Pet Wash
Sauna
Library
Pathways
Bike Room
Lobby
Outdoor Kitchen
Fitness Centre
Bike Parking
Yoga Studio
Party Room with Kitchen
Sauna
Library
Lobby
Bar
Visitor Parking
Outdoor Kitchen
Fitness Centre
Party Room with Kitchen
Yoga Studio
Bike Room
Outdoor Terrace
Pet Wash
Social Lounge
Bike Parking
Electric Vehicle Charging Stations
Pathways
Parkette

Deposit Structure

$10,000 upon signing the Agreement of Purchase and Sale 10% of the purchase price due in 30 days less the deposit 5% of the purchase price due in 365 days 5% of the purchase price due on occupancy

Pre Incentive Details

: 2 Years of Property Management & Tenant Placement
: 2-Year Lease Guarantee at $3,000/month (For One Bedroom & One Bedroom + Den Suites)
: 1-Year Membership to Rainbow Lake Conservation Association
: Capped Development Levies (Limited to $2,500)
: Priority Access to Top Units
: Exclusive Platinum VIP Pricing & Floor Plans
Pre Nearst Places

Nearst Places

Downtown Cambridge & Downtown Kitchener
Conestoga College
Highway 401

Location

525 New Dundee Road, Kitchener, ON

Mortgage Calculator

$669,000
/
Monthly
  • Principal & Interest
  • Property Tax
  • Home Insurance

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