Toronto Real Estate Blog

Eco-friendly feature is the only one in area as the building is designed to be super energy-efficient

Excerpt from an article by Valerie Hauch – The Toronto Star

The green, green grass of home will have a special meaning for the residents of Bob Mitchell’s Falling Brook loft development in Toronto’s east end.

That’s because the grass will be growing on Falling Brook’s roof – the top of the six-storey, 43-unit building – making it the only loft building in the Beach with a living, green roof and part of a select group of buildings with a similar feature in the city of Toronto.

Because it is on a high point of land at Kingston Rd. and Fallingbrook, the views from the terraces with each lofts.htm” title=”toronto lofts for sale”>loft unit will have a view of either Lake Ontario to the south, or Blantyre Park to the north.

The one and two-storey lofts will have gas fireplaces and a choice of engineered plank hardwood or bamboo or polished concrete flooring with sisal carpeting on stairs and mezzanines.

Indoor garage parking and a locker is included with the price of a unit.

This is a “conscious decision,” says Mitchell, who also never uses model suites in his developments and sells many of his units through referrals, word-of-mouth and his website. It keeps costs down and this is why, for instance, maintenance fees will be $186 a month, irrespective of unit size.

He’s enjoyed doing loft retrofits and conversions of buildings in the past (the Glebe, Printers Row and others), but also enjoys constructing an all-new residence because it can be made as eco-friendly and energy efficient as possible.

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Brand new on the scene in Toronto’s hip downtown east is Garment Factory Lofts – Atria Developments’ live/work industrial loft conversion that has won rave reviews. These lofts appeal to first-time buyers, empty nesters, creative individuals (artists, photographers, etc.), and business professionals seeking a live/work loft environment.

Location is part of the reason. Atria coverted a former garment factory in the Queen Street East neighbourhood into one of the city’s hottest loft conversions. Residents will revel in these exciting surroundings that include popular nightspots such as Barrio, and the eateries Verveine and Gio Rana’s Really, Really Nice Restaurant.

The Distillery District and Leslieville are just down the street, and eventually this vibrant area will encompass additional retail, residential, and live/work housing when the proposed changes to the Toronto Film Studio environs become reality.

Design shares the spotlight with location, and the spectacular model loft at Garment Factory Lofts is the perfect showcase. This one-bedroom plus den/workspace model by Fleur-de-lis Interior Design Inc. contains examples of the building’s interesting architectural details such as the original flared columns, ceilings that soar up to almost 12 feet, and large windows. The model features Wenge-stained kitchen cabinetry, a stone backsplash and island with a stone top, a gas stove, gas BBQ tee, and an optional gas fireplace.

The eight-storey Garment Factory Lofts is designed by award-winning Core Architects Inc. to meld the original brick warehouse facade with modern steel and glass. Beginning at the third floor, the building terraces are striking.

An acid green canopy adds panache to the entry on Carlaw and extends back into the lobby. Every loft will offer a glazed balcony or a spacious terrace with amazing views.

The Garment Factory Lofts features 154 lofts comprised of studios, one-bedroom, one-bedroom plus den/workspace, two-bedroom, and two-bedroom plus den/workspace, plus penthouses with views of the lake.

Lofts range in size from 525 to 1,303 square feet and are priced from just $154,900 to the $380,000s (for a 1,286 square foot two-bedroom plan with a 167 square foot terrace) – the lowest price per square foot of any authentic loft in the city. First occupancies are slated for winter 2006.

Atria Developments also created i-Zone live/work lofts, which is located across the street from Garment Factory Lofts, and is now home to artists, filmmakers, photographers, an opera singer, and other creative spirits.

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Atria Developments introduced Garment Factory Lofts, a new live/work industrial conversion that will revitalize a former garment factory. Garment Factory Lofts is located in the Queen Street East neighborhood, one that is undergoing an exciting resurgence between Logan Avenue and Leslie Street to form a hip Downtown Toronto East.

This neighbourhood is fast on its way to becoming an urban success story. Garment Factory Lofts is just down the street from the Distillery District, and steps from Leslieville. In the vicinity are eateries such as Verveine and Gio Rana’s Really, Really Nice Restaurant.

Popular nightspots include Barrio, where regulars sip martinis and enjoy tapas-style treats while a DJ spins music on Saturday night. When the proposed changes to the Toronto Film Studio suroundings become reality, that entire area will be home to new retail, residential and live/work housing, adding to the urban tapestry.

Designed by award-winning Core Architects Inc., the eight-storey Garment Factory Lofts meld the original brick façade of the warehouse with modern steel and glass to create a striking whole that is greater than the sum of its parts. The building terraces back begin at the third floor, and are distinguished by an acid green canopy that will grace the entry on Carlaw and extend back into the lobby. Every loft offers a glazed balcony or spacious terrace with amazing views.

The Garment Factory Lofts features 150 lofts comprised of studios, one-bedroom, one-bedroom plus den/workspace, two-bedroom, and two-bedroom plus den/workspace, and penthouses with views of the lake. Priced from just $139,900, these lofts, will range in size from 525 to 1,303 square foot and offer the lowest price per square foot of any authentic loft in the city.

The spectacular model loft by Fleur-de-lis Interior Design Inc. contains examples of the building’s interesting architectural details such as the original fluted columns, ceilings that soar up to almost 12 feet, and large windows. The model kitchen will feature modern Wenge-stained cabinetry, a stone backsplash and island with a stone top. This one-bedroom plus den/workspace also showcases a gas stove, gas BBQ hookup, and an optional gas fireplace.

Atria Developments is known as the creator of i-Zone live/work lofts, located across the street from Garment Factory Lofts. i-Zone was a major catalyst for change in the surrounding neighbourhood, and is now home to artists, filmmakers, photographers, and other creative spirits. The development of the Garment Factory Lofts will bring a further greening to this former industrial neighbourhood with the inclusion of a parkette that backs onto Boston Avenue.

Atria Developments is a family-owned and operated company specializing in the revitalization of former industrial urban areas by renewing existing sites.

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20 or more towers on drawing board after site bought for $150 million

Excerpt from an article by Tony Wong – Toronto Star

One of the largest condominium developments in Canada is being planned next to the Ikea store in North York.

Vancouver-based Concord Adex Investments Ltd. has purchased 16 hectares near Leslie St. and Sheppard Ave. from Canadian Tire Corp. for $149.7 million. Concord plans to build at least 20 condominium towers on the site, including as many as 4,000 units with up to 4 million square feet of space, as well as a park and community centre, Cliff McCracken, senior vice-president of Concord Pacific Group Inc., the parent company, said yesterday.

Concord Adex is responsible for some of Canada’s biggest developments, including the $3 billion Concord Pacific Place project on the downtown Vancouver Expo 86 lands site; and the massive CityPlace development on former railway lands by Spadina Ave. in downtown Toronto.

So far, the company has completed nine towers at the CityPlace site and is marketing another four, McCracken said. CityPlace is already Toronto’s largest condo site, zoned for 5.5 million square feet of living space.

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Excerpt from an article by Elvira Cordileone – Toronto Star

Creation of new communities is revitalizing when old areas are getting new residents

Have lofts become urban trailblazers for revitalization of older neighbourhoods?

Jeanhy Shim, president and editor of Urbanation, a publication that tracks the condo market in the GTA, thinks so.

“Lofts helped lead the way in creating new neighbourhoods in downtown, east and west,” Shim says, adding they are also helping revitalize such areas as the Junction, Roncesvalles Village and Leslieville.

One such example is Bloorline Lofts.

Bloorline Lofts was once a mattress factory. In fact, when construction started, crews unearthed metal springs buried all around the building.

Edwin Brdlik, who is marketing the Bloorline Lofts, says the conversion is finished and the building has been registered. Converting old buildings into lofts took off in cities such as New York and Chicago 50 years ago, Brdlik says.

The first legal condos-for-sale/torontolofts.htm” title=”loft conversion in Toronto”>loft conversion in Toronto (41 Shanly near Dufferin and Bloor Sts.) didn’t take place until 1982 when the city finally realized older buildings were simply going to waste.

People who buy a condos-for-sale/torontolofts.htm” title=”loft in a converted building”>loft in a converted building choose it because they want the character and uniqueness of the space, says Brdlik.

The larger marquee buildings, such as the former Tip Top Tailors and the Toy Factory, have already been transformed, but he says the city still has a small supply of small to medium buildings ripe for conversion.

The Bloorline Lofts are “hard” lofts, units carved out of an existing, usually older building. (Hard lofts are considered renovations and aren’t covered by Tarion, the province’s new home warranty program.)

Once a mattress factory, the Bloorline Lofts condo project is helping to revitalize the Bloor Street West and Lansdowne Ave. neighbourhoods.

Shim says “soft” lofts – units in brand new buildings with the high ceilings, large windows and open-concept layouts of the genuine loft – came along after 1995, when the supply of authentic lofts was limited as the number of buildings that could be converted dwindled.

Brdlik says lofts, both hard and soft, cost $300 to $400 a square foot, compared to $265 to $350 for a typical condo unit. That’s because it costs more to convert an older building while maintaining its special character – which is its appeal – than it does to build from scratch, and the higher ceilings found in new loft-style buildings translates into fewer units than a comparable condo building, which drives up the per-unit price.

According to data provided by Shim, the GTA has a total of 230 new condo projects, with 48,000 units on the market. Loft developments (both hard and soft) account for only 10% of all projects.

But because they’re usually small with fewer units than the typical condo, lofts account for only 5% of available resale units.

“Lofts in conversion projects do phenomenally well. They speak to certain types of people – mainly young professionals – with their openness, high ceilings and a bit of funkiness,” Shim says.

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