‘Extraordinary interest in sales’, Penthouse already under contract,
Aristo Unveils New $100 Million Oceanfront Cable Beach Luxury Condo Project
Aristo Development, creators of ONE Cable Beach, unveiled plans today to construct what it labelled “the most exquisite jewel in the crown of Aristo luxury residences,” a striking 11 storey, oceanfront floor-to-ceiling glass structure on Cable Beach.
The $100 million development, Aqualina, catapults Aristo Development into the realm of the super high net worth residential real estate market with only 27 units ranging in size from over 3,100 square feet for a 3-bed, 3.5 bath residence to the penthouse with over 9,400 square feet. Residences start at $2.55 million pre-construction.
It’s a market that Aristo President Jason Kinsale says COVID-19 has lit a fire to.
“We just released the development online on Saturday (October 17) and we have been stunned by the interest,” said Kinsale. “We have already signed contracts for five of the 27 units, including the penthouse which we believe is the most expensive single condominium ever sold on Cable Beach.” These sales reflect the area’s magnetic appeal for the super wealthy motivated by a marriage of quality oceanfront luxury, safety and security.
“The biggest change we are seeing is greater activity from the U.S., especially New York, but also the Eastern seaboard, the Midwest, even California,” said Kinsale. “When we were building ONE Cable Beach next door, we had a lot of interest from Canada, Switzerland, a little bit from the U.S. and, of course, some local interest, but now it’s the U.S. People want to get away from the crowds, the coronavirus, the cold winters, and they want some place where they can relax but also know they are in an English-speaking country with a similar culture and they just feel safe and secure.”
COVID-19’s impact extended beyond the geographical turn in the upscale market and the developer’s marketing plans. Aristo founder and President Jason Kinsale said Aqualina will be the greenest building in its portfolio that includes Balmoral, the gated community of 200 townhomes and single homes, ONE Cable Beach with 73 luxury oceanfront residences immediately West of Aqualina.
“The Aqualina design was created to generate the greatest air flow. All the refrigeration (air conditioning) systems were reconfigured for maximum air circulation, filtration and ventilation in public indoor spaces as well as in residences,” said Kinsale, noting that every residence has its own private elevator.
“We even wanted to ensure that the elevators to every residence were designed with air flow controls and ease of maintenance to maintain best air quality,” Kinsale said. “Emission friendly construction products were not things we had on our features checklist before. COVID-19 changed all that and our thinking. We are still offering European-designed kitchens and baths with included Sub-Zero appliances, 9’6” ceiling heights (11’ in the beach villas), porcelain tile floors throughout, custom closets, storm rated doors and all the finishes that spell the finest available. But we’re adding environmental safety and sensitivity measures we can from LED lighting right down to electric vehicle charging stations in covered parking areas.”
Amenities include a white, sandy beach, oversize pool with surrounding deck, lush, mature landscaping, tennis court, fitness and yoga centre, 24/7 security and a first – membership in the Aqualina Boat Club.
Groundbreaking is set for Spring 2021 with a completion and occupancy date of Fall 2023.