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A few weeks ago, Metropia CEO and founder Howard Sokolowski told RENX he believed Phase 1 of the developer's Union City master-planned community in Markham, Ont. would sell quickly.
He was right.
Metropia sold over 400 units (95 per cent) in the 440-suite condo tower in the first three days of sales.
The launch of the 12-acre, mixed-use Union City community was for its first major component, a 40-storey residential condominium and a 5,000-square-foot social hub known as Union House.
"Metropia is so thrilled with the reception of our Union City master-planned community," Sokolowski said in Monday's announcement about the sales. "This is a clear indication that the market is continuing to evolve and that high-quality projects will continue to be successful.
"Markham is an extraordinary city, and we're proud that our bold vision for connected living in the evolving Unionville and downtown Markham neighbourhoods has resonated with purchasers.”
Construction of the first tower is expected to begin in June 2024, with occupancy in the fall of 2027.
The speed of sales for the first tower has also prompted Metropia to accelerate plans for future buildings. Tower 2 at Union City will be "released later this month," the announcement states.
Initially, sales were anticipated to begin in the fall with occupancy anticipated for summer 2028. A third condo building will follow as part of the first phase.
Metropia is a Toronto-based real estate developer founded in 2009.
Union City is Metropia's second community in Markham – in the northern portion of the Greater Toronto Area – having launched Union Village in early 2020 alongside partner Minto Communities GTA.
The Union City tower
The Union City property was purchased in 2017.
Metropia is a 50 per cent partner in the project along with a family investor, Sokolowski told RENX.
He also noted in an interview a few weeks ago there had been significant buzz about the project before the launch – especially considering the economic uncertainty and a pullback by some developers in bringing new projects to market.
“The anticipation that we're hearing is unprecedented and very exciting,” Sokolowski said at the time. “These are somewhat challenging times, but I think Union City will be an example that, if you design the right product in the right location at the right price, they will come.”
Located along Enterprise Boulevard in Markham's Unionville neighbourhood, the community is within walking distance of the new Markham York University Campus, slated to open in 2024. Sokolowski is a York graduate, and Metropia donated $5 million to the university to support the campus.
The IBI Group-designed Union House tower will include a six-storey podium on land north of Enterprise Boulevard, along with the Union House social hub and 1.1 acres of green space. Quinn Design Associates is handling landscape design.
The unit sizes range from junior one-bedroom units to three-bedroom units.
Union City and Metropia
Union City is to encompass more than three million square feet, including nine multiresidential buildings and one or two office buildings, retail, parks and other amenities. A pedestrian bridge over Enterprise Boulevard to the adjacent Unionville GO Transit station is also proposed.
“It's not often that I get to build a high-rise project on more than 11 acres. That's a community,” Sokolowski said in his previous interview.
“When I was involved with Tribute Communities, which I co-founded, it was very exciting to create communities — not just subdivisions, not just developments, but communities. I have an opportunity now to do that at Union City because of the critical mass.”
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