... Grace Macaluso, The Windsor Star, May 1st, 2015
Peter Valente doesn’t need a crystal ball to see the future of Windsor’s new homes market.
“My personal belief is the future of Windsor real estate are the seniors,” said Valente, president and owner of Valente Development Corporation.
“When the housing market started to turn around four or five years ago, I made the conscious decision to go after that market.”
With this demographic group in mind, Valente launched RiverTown Terrace – the city’s first, new condominium development in almost a decade.
“This is a $10-million project,” he said proudly. “It will create about 160 construction jobs.”
Peter Valente is shown in a condominium unit at the RiverTown Terrace on April 29, 2015, in Windsor, ON. The development by Valente Real Estate is located on Wyandotte Street East near Lauzon Road. (DAN JANISSE/The Windsor Star)
The 63,000-square-foot project sits on a two-acre lot at 8475 Wyandotte St. E. and is being built in two phases.
Phase one, which is currently under construction, is a building comprised of six, two-storey units. In June, construction is set to begin on phase two, which features a four-storey building consisting of one-and-two-bedroom units. Prices range from $149,900 to $269,900. A space in the parking garage will cost an additional $16,400.
So far, 12 of the 50 units at the four-storey building have been sold, said Valente.
“We think seniors will purchase this as a retirement living choice,” he said. “These are people who want to spend half their time in Florida. They’ll have no maintenance. They can lock and leave their unit, and go to Florida in the winter.”
The two-storey units, he added, would likely appeal to professionals. “It’s like a townhouse building, but the zoning of the property did not allow for townhouses, so they’re brownstones and we had to do vertically divided units.”
The units come with such standard finishes as ceramic floors, granite or quartz countertops, cabinets with crown moulding and stainless steel kitchen appliances.
“I tried to put in upgrades that you’d find in a $700,000 house. It may be a small space but it’s very well finished.”
The location caters to residents who want to be within walking distance of an array of amenities, said Valente.
“If you want to head out to the grocery store, restaurant or bank, you can walk across the street,” he said. “It’s an awesome location.”
For more information go to valentehomes.com/rivertown-condos.