Soon to be unveiled in the vibrant heart of South Cambridge, Modal at Main introduces an exhilarating new community, providing residents with unparalleled access to the finest offerings in Cambridge! Featuring Stacked Urban Towns and Rear Lane Towns in close proximity to Main Street and Franklin Boulevard, Modal at Main is strategically positioned just a stone's throw away from Downtown Cambridge, Highway 8, Cambridge Memorial Hospital, and an array of amenities, promising the epitome of city living.Projections suggest a demand for over 70,800 new homes in the region by 2031. However, the expected supply falls short at approximately 54,000, resulting in a substantial deficit of nearly 17,000 homes. This imbalance is poised to intensify demand, thereby exerting upward pressure on both real estate values and rental prices and for more than four decades, Reid's Heritage Homes has built a reputable and award-winning legacy as a trusted developer of high-quality homes in Ontario, Canada.
About
Project Info
- Developer Reid's Heritage
- Unit Area 780 - 1445 sqft
- OccupancyJan, 2026
Description
Reid's Heritage, a renowned builder, is introducing a new project called "Modal At Main" located in Cambridge. This development features Stacked Townhomes in a low-rise setting. The anticipated occupancy for these modern living spaces is scheduled for the year 2026. Experience contemporary design and quality craftsmanship with Reid's Heritage at Modal At Main in the heart of Cambridge.This financial arrangement involves an initial upfront payment of $15,000, followed by a recurring monthly payment of $5,000 for a duration of 7 months. The final month of the agreement is specified as the last month. This structure outlines a total compensation of $50,000 over the course of the 7-month period.
This deposit structure offers a convenient and phased approach for securing your investment:
- $15,000 is due upon signing, signifying your commitment to the property.
- $5,000 is payable at 30 days from the initial agreement.
- Another $5,000 installment is expected at 60 days, providing flexibility in your financial planning.
- The deposit plan continues with $5,000 due at 90 days, 120 days, and 150 days, spreading the financial commitment over several months.
- At the 180-day mark, an additional $5,000 is required, contributing to the progressive accumulation of your investment.
- As the development progresses, $5,000 is due at 210 days, marking another step towards completing the deposit.
- The final balance of 10% is expected at 210 days, completing the deposit structure and securing your stake in the property. This structured approach aims to accommodate various financial preferences while ensuring a secure and gradual investment process.
Features
DEPOSIT STRUCTURE:
- Initial commitment of $15,000 upfront
- Followed by $5,000 per month for 7 months, with the last month included
- Pro-rated for a total of 10%, making your investment manageable and phased
LEGAL COSTS:
- A one-time cost of $2,000 for legal procedures, ensuring a smooth and transparent transaction
INCLUSIONS:
- All appliances and air conditioning are thoughtfully included, providing convenience and comfort
- Parking is also part of the package, ensuring hassle-free accessibility
CLOSING DETAILS:
- Anticipated closing in 2026, offering a futuristic investment perspective
MAINTENANCE FEES:
- Approximately $0.22 per square foot, providing transparency on ongoing costs
DEVELOPMENT LEVIES:
- Capped at $2,500, offering financial predictability
LEASE OPPORTUNITY:
- Take advantage of the opportunity to lease during interim occupancy, adding versatility to your investment strategy.
This comprehensive package not only secures your investment but also provides added value and flexibility, making it an appealing choice for those seeking a well-rounded real estate opportunity.
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