This is an upcoming development surrounded by natural beauty and sporting enviable lake access.
The Flats at Rainbow Lake Condos is a mid-rise condo project by HIP Developments in Kitchener. Located at 525 New Dundee Rd, next to Hwy 401 and the Cambridge border, this mixed-use project will feature 184 one- to two-bedroom units plus retail on the ground floor. The condominium will stand eight storeys tall and offer plenty of indoor and outdoor amenities.
Investors can take advantage of uniquely located residences that offer natural serenity and seclusion in addition to convenient proximity to two of Conestoga College’s campuses, which provide an opportunity to rent out units to students.
The Flats at Rainbow Lake Condo project will sport contemporary Scandinavian-inspired designs that will complement the natural surroundings and provide spacious and beautiful suites, ideal for both individuals and families.
Standing at eight storeys high, the building will offer 184 residential units and 5,300-plus square feet of commercial space at ground level. A variety of one- to two-bedroom units between 650+ to 1050+ square feet will feature private balconies that allow residents to indulge in breathtaking nature.
On-site amenities will include 202 parking spaces at surface level (188 residential and 14 visitors/retail) plus limited EV parking spaces. There will also be 100 bike spaces for long-term parking.
A curated selection of wellness-oriented amenities will include a yoga and meditation room, fitness studio, and sauna. The Flats at Rainbow Lake Condos will also feature a large party room, a social lounge, a kid-friendly play area, a pet wash station, and a large outdoor terrace facing the trees and lake.
Location & Neighbourhood
The Flats at Rainbow Lake Condos is surrounded by stunning natural heritage conservation lands and is located by the rainbow trout-filled Rainbow Lake that provides opportunities for year-round, healthy outdoor activities, like hiking, jogging, fishing, canoeing, and ice skating. Yet, the development is still near Kitchener’s exciting tech centre, where innovation and job opportunities abound, providing residents with a balance of nature and urban life.
Doon South is primarily a car-dependent neighbourhood, although one local bus route along New Dundee Road makes it easy to get to Conestoga College directly with 30-minute service. This growing educational institution welcomes over 26,000 students annually to the Waterloo Region and other parts of Southern Ontario. It’s only a three-minute drive from the condo site to both Conestoga College’s Kitchener-Doon and Cambridge-Fountain Street campuses. Investors take note! This provides great opportunities for renting out units to college students.
Other excellent neighbourhood features include being minutes from the Hwy 401 ramp, which provides an effortless drive in and out of Kitchener. Motorists can reach Downtown Toronto in 75 minutes, London in 60 minutes, or Hamilton in 45 minutes.