Rosehaven Homes has introduced a 48-month extended presale-deposit program for buyers at its upcoming downtown Hamilton condo project.

Rosehaven said the initiative allows Rebecca Residences unit purchasers to pay a weekly deposit starting at $250, with the amount scaled based on unit size, rather than making large upfront lump-sum payments prior to construction. Deposits are a key component of presale contracts, which often influence a developer’s ability to obtain construction loans.

Rosehaven says the approach is designed to lower one of the most significant barriers to homeownership. Urbanation has reported that no new condo projects launched in the Greater Toronto and Hamilton Area in the first quarter largely due to prospective buyers’ reluctance to sign presale contracts, and spend thousands of dollars on deposits, now when condo prices could sink in the future.

Prospective buyers have also held back on presale commitments due to concerns about how potential global economic and geopolitical disruption, increasingly tense Canada-U.S. trade relations, the war in the Middle East and other factors could affect their job security and household finances.

“At a time when many Canadians have felt priced out, shut out, or forced to put homeownership on hold, The Rebecca Residences responds to one of the market’s most discouraging barriers: The challenge of coming up with large upfront deposit payments, even when the desire and long-term capacity to own are there,” said Stefano Guglietti, Rosehaven’s vice-president of high-rise sales.

The program coincides with Ontario’s new, time-limited housing HST rebate, which Rosehaven says is further reducing purchase prices.

“We are able to remove an average of approximately $40,000 from the price on select units,” added Guglietti.

The rebate applies from April 1, 2026 to March 1, 2027 and eliminates the full 13% HST on new construction homes priced up to $1 million.

Located along the revitalized John Rebecca Park corridor in downtown Hamilton, the 23-storey development will feature 393 units. Construction is expected to begin in late fall 2026, with occupancy slated for early 2030.

The project is being positioned around livability and long-term value, with suite offerings that include one-bedroom units starting at 423 square feet in the $300,000s, one-bedroom-plus-den layouts from 480 square feet in the $400,000s, and two-bedroom units from 717 square feet in the $500,000s.

Hamilton continues to see strong growth and investment in its downtown core, including major civic and entertainment assets such as the reopened TD Coliseum, said Rosehaven. The development is located near retail, restaurants, the Hamilton Farmers’ Market, and transit options, including Hamilton GO Centre, West Harbour GO Station, and the planned LRT line, with travel to Toronto’s Union Station estimated at about one hour via GO Transit.

Amenities at the project will include more than 16,000 square feet of indoor and outdoor space, featuring a fitness centre, yoga studio, co-working areas, rooftop terrace, and concierge service, along with private balconies or terraces for most units.

Oakville, Ont.-based Rosehaven is a developer with more than 30 years of experience delivering residential communities. Since 1992, the company has built mrore than 9,000 homes and condominiums across Southern Ontario, with a portfolio that includes both low-rise and high-rise developments focused on design, quality, and livability.

Pictured: Rosehaven’s future The Rebecca Residences in downtown Hamilton.

Rendering: CNW Group/Rosehaven HOmes