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Indigo Estates New Home Development in Collingwood

Posted by Sherry Rioux on January 16, 2017
11 Comments

Update:  As of January 16th, I’ve just received floor plans and pricing for the freehold townhome units now available for sale.  Contact me for full details.

Having launched sales in November 2016, Indigo Estates by Eden Oak is Collingwood’s latest new home subdivision.  The project is currently in a pre-construction phase with first occupancies expected in June to September 2018. With clients interested in this project, I’ve had a good chance to fully explore the pros and cons but more on that in a moment.

Indigo location

The site is located in the south end of Collingwood near the corner of Hurontario St (County Road 124) and Poplar Sideroad. It’s well located close to schools, parks and is about a 10 minute walk to the downtown core. Upon completion, the site is approved for about 378 units including a mix of single family and town homes.  The first phase of 100 single family homes is now in the sales phase and at the time of writing, is already close to 70% presold.

Indigo site plan

The current phase includes bungalow and two storey, single family homes on a choice of 36’, 46’ or 56’ serviced lots with base house prices ranging from $400,900 to $664,900 and with sizes ranging from 1435 sq ft to 3192 sq ft.  All of the homes in this phase include full, unfinished basements and double car attached garages.  Walk-out basements are available on a limited number of lots for an additional cost and, lots backing onto parkland or the Hamilton Drain trail attract a premium charge.

The plan includes 120 townhomes expected to be released for sale soon.  As Collingwood has a very limited number of freehold townhomes and, as affordability is a key features for home buyers, I would expect these to be very popular if the price points are appropriate to the product.

Marg’s Comments:

  • I think this is a well located project and the developer, Eden Oak, has a successful track record in our area.  Based on sales to date, the project is being well received by the public as close to 70% of homes are already presold.
  • I find it interesting that the best lots, which attract a premium charge, are not sold whereas the lowest priced homes on the smallest lots are the first ones sold out.  This suggests to me that either buyers are being very price conscious or, a large percentage of the buyers are investors planning to either rent out homes or flip them before or after possession.  As with most new home subdivisions, there is generally high resale activity in the first few years following completion for this reason.
  • The choice of locations is important in this development due to the location of the school and main roads. If buyers are sensitive to traffic, there are locations I would consider to be better than others.
  • There are some details in the agreement of purchase and sale that buyers should take specific note of as they can affect the bottom line of dollars they’ll spend on closing.  There are always added and sometimes unexpected additional costs that buyers are responsible for. In some cases, the builder may be willing to negotiate caps on some of those costs if the buyer knows to ask.
  • Since the projected closings are still 18 months out, the builder has not determined all of the construction details and this is perhaps the most challenging aspect of buying in the development at this stage.  Some basic questions such as basement height, size of basement windows, type of hardwood (solid vs engineered), cost of upgrades and specifics on fixtures and finishing couldn’t be answered at this stage.  In other new home developments in the area, these questions can be answered since they are already into the construction stage.

Contact me if you would like to be represented in exploring this development and require more details on options, packages and deposit structure.

11 thoughts on “Indigo Estates New Home Development in Collingwood

  • Mina Tesseris
    on March 3, 2017

    Hi Marg,
    Based on my own research, this development was heavily marketed to GTA brokers and attracted many speculative investors as you note, many of whom are hoping to flip for a profit. The developers contract allows buyers to assign the home to another buyer before the deal closes (can you say Vancouver?). The terms of purchase require a $50,000 deposit notwithstanding that deals don’t close for 18 months. The developer also has not received approval from the Town for servicing. Until this is done, they can’t even put pipe in the ground. This site is natural extension of the community with potential to attract a wide demographic of buyers including young families and first time buyers. It’s a shame that is being abused like this. I wonder if the Town Council who approved the development are aware of the situation?

  • Marg
    on March 3, 2017

    Hi Mina
    You have expressed the same concerns I’ve been having. In a free market economy though,the Town doesn’t have a say in whom they sell or market to and you can’t blame the developers for marketing in the most profitable way. Nobody has done anything outside of proper process here that I am aware of and they have merely been successful in pre-selling the development. Now the picture for the investors is another story. If they do have the right to assign, only time will tell if they can be successful doing so. That’s capitalism!

  • house buy
    on August 7, 2017

    Has the developer received approval from the Town for servicing?

    The developers contract allows buyers to assign the home to another buyer before the deal closes? Are you sure?

  • peter smith
    on August 9, 2017

    Hello,
    1. Has the developer received approval from the Town for servicing?

    2. Are you sure the developers contract allows buyers to assign the home to another buyer before the deal closes?

  • Marg
    on August 9, 2017

    Hi Peter. I can’t answer the question about servicing as it is not readily available but we’ll put in a call to the Town engineering department to see what we can find out so you may wish to check back with me next week. In regard to assignment, it of course depends on what the agreement says. The one I saw, which was for a detached home early on, had an assignment clause however, it is possible that subsequent versions did not. I imagine it has become a bit of an issue with the changes in the market so each case should be carefully reviewed.

  • peter
    on August 16, 2017

    Hi Marg,
    do you have anyupdate?

  • Marg
    on August 17, 2017

    No, we don’t. The planning department wasn’t sure of the current status and the person who looks after it is away until the end of the month. I don’t think it is complete but would suggest you contact John Velick at the Town of Collingwood engineering department at the end of the month for an update as this is clearly important to you.

  • Peter
    on August 17, 2017

    If it is not complete, it means the project will be delayed and will not close
    On time?

  • Marg
    on August 19, 2017

    I can’t answer that Peter as this is not my project or listing and, contracts had different occupancy dates. The salesperson handling it couldn’t (or wouldn’t) give me an answer. If you have purchased in there, I’d suggest you check with the builder directly.

  • David
    on December 31, 2018

    If you quickly review the Indigo Estates Collingwood New Homes facebook page, you will clearly see that the facebook page is linked to gtahomesivest.com

    Clearly, there is a speculative nature to this project as mentioned by the first poster, of which town many town residents seem to display contempt towards.

    Also, has anyone noticed the high ground grading slopped towards homes on Lockhart rd? Can’t image those residents will be pleased.

  • Marg Scheben-Edey, Broker
    on December 31, 2018

    I think you are correct as mentioned in my original post that the project was heavily purchased by investors. I’ve personally had many calls from buyers wanting to know if they could assign their agreements or flip when built. You are also correct that Lockhart and area residents are not happy with the way the infrastructure was developed and have been an active lobby on the matter. They have won some concessions but we’ll see what long-term impacts may be. Infill is complicated, isn’t it? Thanks for your comment David. By the way, I notice the Facebook page you were referring to is old, not up-to-date, has only 11 likes and, the link they gave is not active.

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