The Flats at Rainbow Lake

Reasons to Buy*

POPULATION INCREASE & ECONOMICAL OUTLOOK
Home to over 256,000 people, Kitchener is a part of the Waterloo Region which also encompasses Waterloo & Cambridge. The Waterloo Region is expected to grow to nearly 923,000 people by the year 2051 including over 470,000 jobs. The rise in population along with the growth of the Waterloo Region will make Kitchener an even more desirable city to reside in all while increasing the demand for housing.

CONNECTIVITY & EDUCATION
The city is serviced by Highway 401, Highway 8, Highway 7, the GO Transit, ION Light Rail Transit and the Grand River Transit – connecting you to everywhere you need to go with ease. The Waterloo Region is also home to World Class Post Secondary Institutes such as the University of Waterloo, Wilfrid Laurier University and Conestoga College — when combined are home to over 95,000 students.

HOUSING NEEDS
Kitchener has been experiencing tremendous growth. It is estimated that the region will need over 70,800 new homes by the year 2031, but will only be able to deliver an estimated 54,000 leaving a shortage of nearly 17,000 homes. This will lead to increased demand which will put upwards pressure on real estate values and rent prices.

REPUTABLE DEVELOPER
Founded in 2010, HIP Developments has always approached real estate development with a broad vision. They believe that it is their job to build more than real estate and to help build cities – especially in Waterloo Region.

Quick Facts*

Developer: HIP Developments
Address: 525 New Dundee Road, Kitchener
Pricing: Starting From The $600s
Occupancy: August 2023
Suite Types: One Bedroom – Two Bedroom Suites
Suite Sizes: 659 sq ft – 1,056 sq ft
Maintenance Fees: $0.39 cents/sq ft (Includes: Building and condominium management, Building security, Amenity rooms, lobbies — utilities and maintenance, Common areas, parking and property cleaning and maintenance, Snow removal, landscaping, Garbage and recycling, Building insurance, reserve fund contribution, Free WIFI in all indoor amenities/common areas)
Deposit Structure: $10,000 on Signing // 5% in 30 Days // Balance to 20% on Occupancy
Incentives*: Platinum VIP Pricing & Floor Plans, First Access to the Best Availability, Capped Development Levies (Capped at $2,500), Assignment, Leasing & Property Management Services Available, Free Lawyer Review of Your Purchase Agreement, Free Mortgage Arrangements, Right to Lease During Occupancy, One Surface Parking Included, One Year Membership to the Rainbow Lake Conservation Association, 2 Year Lease Guarantee at $3,000/month (For One Bedroom & One Bedroom + Den Suites Only), 2 Year Property Management & Tenant Fill
Suite Finishes: Kitchen – quartz countertops, Stainless steel appliances, Energy star rated refrigerator, Electric range/oven, Over the range microwave, Energy Star rated Dishwasher, Full size stacked washer/dryer, Laminate vinyl tile flooring in entry, living, dining, kitchen, closets and bedrooms, Porcelain tile in bath and laundry
Building Amenities: Outdoor terrace with communal table, outdoor kitchen/bar, trellis, Fitness & Yoga including an indoor sauna, Lobby, Lounge, Library, Party room with kitchen, Bike storage rooms, Pet wash room, Parkette and pathway, E/V roughed-in parking spaces, parking spaces