Toronto Real Estate Blog

New Dream Homes and Condos Magazine

Imagine living just steps from Frenchman’s Bay—your elegant new home overlooking the azure waters of the lake. Moments from the marina and close to downtown, San Francisco By The Bay by Chestnut Hill Homes offers luxury living at its best.

This exciting community located at Bayly Street and St. Martin’s Drive in south Pickering will offer unprecedented opportunities to live, work, and play in scenic, convenient surrounding.

The inviting, self-contained neighbourhood will include 131 townhomes plus two residential condominium towers containing 392 condos rising from the same two-storey podium that houses approximately 25,500 square feet of retail-commercial space—including live-work units. And anchoring it all will be more than four acres of picturesque parkland and lush green space. Plus, in the vicinity, Douglas Park beckons with soccer fields, playgrounds, and a walkway. A short drive away is Millennium Square, where you can stroll along the Lake Ontario Waterfront Trail.

When it comes to home styles, there’s something for everyone at San Francisco By The Bay. Through master planning, the existing Bay Ridges plaza will be redeveloped as San Francisco By The Bay built by Chestnut Hill Homes. Striking residential towers feature a wide range of one- and two-bedroom designs, many with dens, and offer spectacular views of the lake.

The 12,500-square-foot amenity area will include a state-of-the-art fitness complex with an exercise room overlooking the indoor pool, a party room that opens onto a deck, and a multi-purpose room.

Most townhomes will feature rooftop gardens and each will have two parking spots. The resulting lifestyle package is ideal for first-time buyers, young families, and empty nesters seeking exceptional value in a great locale.

Condos are priced from the mid $140,000s and towns from the low $200,000s.

San Francisco By The Bay residents will live less than five minutes from the Pickering GO Station and close to Highway 401, meaning they can commute via public transit to just about anywhere in the GTA. Combined with new pedestrian sidewalks, this transit-friendly aspect of the community will help to reduce fossil fuel consumption and have a positive impact on the environment.

With over 25 years of building experience, Chestnut Hill Homes has created thousands of fine new homes in tremendously successful communities across the GTA. Memorable designs, superb features, and meticulous attention to detail are hallmarks of Chestnut Hill’s home collections. The company is dedicated to building intimate communities that exist harmoniously with their surroundings and are giving over more than four acres of land for use as natural community features around the site. Approximately 1.5 acres has been given to the local Conservation Authority to be preserved as public parkland/open space and to preserve and enhance the adjacent Douglas ravine. An additional 2.61 acres will be set aside for the community’s landscaped park and green space.

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Improved mortgage products cause surge in real estate market

By Anthony Harte, New Dream Homes and Condos Magazine

The introduction of new and improved mortgage insurance products should result in a surge in real estate activity beginning immediately and continuing over the next few quarters.

An insured mortgage provides remuneration to the lender for part of their financial loss, should a borrower fail to repay his/her mortgage. Lenders for all high-risk real estate financing require mortgage insurance. Typically a mortgage request is deemed high risk when a purchaser’s personal investment/down-payment in the real estate transaction is below 25% and, in some cases, a purchaser’s choice of property will also prompt a lender to request or require insurance. The risk of default and loss to the lender is greater on loans with smaller down payments, or homes with above normal maintenance requirements (properties on well and/or septic, non standard properties etc.).

Canada Mortgage and Housing Corporation and Genworth Financial (formerly G.E Capital) represent the only current mortgage insurance option in Canada. These pioneers initially provided coverage for mortgages where personal investment/down payment ranged from five to 20% of the overall purchase price, with few exceptions. The original format evolved to accommodate even more exceptions, including those with pristine records of repayment or excellent credit. Those who qualified were given posted rates (banks highest rate for the term selected) and were able to acquire a mortgage even while self-employed or as a salaried employee with no-money down.

The newest contributions to the mortgage insurance product line sees increased amortizations (30, 35, and 40 year), 95% refinancing (equity takeout from existing property), and no money down purchase at discounted rates. Multiple and income property allowances for qualified and credit worthy candidates, through increased debt ratio tolerances, less personal investment for the self employed homeowner hopeful (5% down payment), and new immigrant and U.S. resident products round off the line-up.

Increased amortization provides lower monthly payments or affordability, no money down rewards the credit worthy first time homebuyers who perhaps have not been able to save the entire 5% down payment, and provides opportunities for a second or more property investment for those in a position of financial strength (net worth/assets). The would-be investor may wish an income property (rental), to start or develop a portfolio in this Canadian version of the global real estate boom.

The one-time insurance premium is paid at the mortgages inception and is within a range of 0.5 to 4.5% of the total mortgage amount. The premium is then added to the total mortgage amount the sum of which represents the buyer’s total indebtedness. Mandatory, the insurance provides down-payment flexibility and homeownership opportunities for those who would not ordinarily be considered, as well as those wishing to acquire more than one property or several investment properties. Given the appropriate credit history the opportunities for investment in real estate are limitless.

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From The Condo Guide Magazine

Anyone looking for a stunningly elegant new home right in the heart of Toronto’s version of Fifth Avenue, need look no further than Crystal Blu, one of Bazis International’s many projects in Toronto. The building is now under construction, which will see the closing of the presentation centre in April this year.

Bazis, founded in Kazakhstan 15 years ago, has won critical and commercial success with mega projects in Asia and central Europe, and currently has over 30 projects under development worldwide. Crystal Blu is an exclusive, slender, 35-storey building rising from the east side of Balmuto Street, just a very short block east of Bay and Bloor Streets, one of Canada’s most famous intersections.

The building, designed by celebrated architect Roy Varacalli of Toronto, suits its location on one of the finest sites in the heart of the city. A stylish, contemporary design, Crystal Blu is an innovative boutique condominium residence of just 138 condos nestled only steps from the allure of Bloor Street.

Crystal Blu is indeed innovative. Every single condo in this project has 10-ft. ceilings creating a tremendous sense of openness. Every entry door is a full eight ft. in height. All suites have balconies and/or terraces; all have huge floor-to-ceiling windows allowing for spectacular views of the city and the lake. At Crystal Blu, “generous” is the operative word.

Bazis’ vast experience in the European markets has also given it a distinct edge when it comes to suite design and mix. Of the 138 suites, about 70% are two-bedrooms.

“This is a project designed to provide a wonderfully rich lifestyle, not just for this generation of buyers, but for generations yet to come,” says Veronika Belovich, Director of Sales and Marketing for Bazis. “Torontonians have finally reached the stage where a condo is a lifestyle choice, not a matter of financial necessity.

“The project is now over 75% sold, and we know from buyers that, for many, this will be a family home, a legacy for their children and maybe even their children’s children. Crystal Blu is built to last through the generations.”

Designer Bryon Patton of Patton & Associates reflects that attitude in his choice of suite designs and finishes. Crystal Blu standards include hardwood flooring in all principal rooms, kitchen cabinetry with European lines and flare, top-of-the-line stainless steel kitchen appliances, plus a choice of either granite and/or CaesarStone quartz for countertops and the cooking island.

Prices start at $399,900 and range to over $2 million for a truly distinctive penthouse. Fortunately, there are still a few condos available at pre-construction prices.

While the suites may be the high point, Bazis has not overlooked the amenities. The superb two-storey club and spa includes weight, cardio and yoga rooms, men’s and women’s change rooms, a club/party room with a caterer’s kitchen and its own separate dining room and an outdoor pool on a beautifully landscaped terrace.

“The location alone is an enormous draw,” says Belovich. “Residents are within steps of some of the finest designer shops in the country. Restaurants and cafés are too many to count. The Bloor and Yonge subway lines are just minutes away and this is a corner where you can flag a cab at any hour of night and day.”

Need groceries? There is a food store in the ManuLife Centre next door; an LCBO as well; Ashley’s Fine China; movie theatres; and Indigo Books. Holt Renfrew is just across the street, and Chanel, Escada, Cartier and Tiffany’s are steps away. Crystal Blu offers excitement on a scale hard to match anywhere else in the GTA.

The Condo Guide Magazine is an excellent source of housing information for those looking for information on new condos in Ontario, Canada. We offer the most up-to-date information on new condominiums across the greater Toronto area.

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Contact the Jeffrey Team for more information

Buyers snapping up Liberty Village condos and towns

By Sydnia Yu – Globe and Mail

Based on demand for studios, one-bedroom suites and two-storey lofts in the first 24-storey condo tower at its Liberty Village project, CanAlfa Group is offering similar units in the second building, named Bliss.

Even still, nearly 80% of the 276 units have been snatched up since the launch last month.

In addition to the condos there will be two-storey townhouses in the 20-storey tower, which is part of the complex being built on a former industrial site south of King Street West, between Strachan and Atlantic avenues.

The area surrounding the site is being revived with new businesses, clubs and cafés.

“It’s a little village tucked in the middle of the city,” says Amanda Kirkland of Blu Consulting, which oversees sales and marketing for CanAlfa. “We’re close to the lake … restaurants and shops.”

A 24-hour Dominion is minutes away, as are Stanley Park and Trinity Bellwoods Park.

It’s a short streetcar ride to downtown attractions, including Ricoh Centre, Harbourfront and the Air Canada Centre.

The Gardiner Expressway and GO Transit are conveniently located.

Purchasers can still chose from one- to two-bedroom-plus-den units and ground-level townhouses with street-level access and outdoor space.

There will be open-concept principal rooms, balconies and wall-to wall windows.

Kitchens will feature breakfast bars, or islands in some cases.

Much of the project’s success has been fuelled by the appeal of amenities in and around the community, says Ms. Kirkland, who resides in one of the 476 stacked condo townhouses on the 45-acre site that will include multiple towers, parkland, live/work units and office space.

“People are slowly, but surely learning where Liberty Village is,” she says.

Model suites — two of them created by Mike Niven Interior Design and a third by esQape design — display available finishes and features.

They include granite countertops, ceramic tile backsplashes and nine-foot ceilings in the regular units and 10 feet in the penthouses.

There will be laminate floors or sealed concrete in the principal rooms, carpeting in the bedrooms and frosted-glass sliding doors in some models.

For kitchen appliances, buyers have a choice of white, black or stainless steel.

Parking is $20,000 and a locker $3,500.

The monthly fee is 45 cents a square feet; utilities will be individually metered.

Bliss will be linked to the first tower, which, when it is finished in the fall, will house a gym, guest suites and a car-wash bay.

The second building, which will be completed next year, will have a rooftop garden, a party room with a kitchen and additional gym facilities, along with an indoor pool and whirlpool.

PROJECT: Bliss

LOCATION: King Street West, between Strachan and Atlantic avenues

BUILDER/DEVELOPER: CanAlfa Group

SIZE: Condos 635 to 1,492 square feet; townhouses 1,058 to 1,252 square feet.

PRICE: Condos $230,000 to $600,000; townhouses, $371,900 to $439,900.

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King West condos and lofts “on sale”

By Sydnia Yu – Globe and Mail

When most of the factories in the King Street West and Strachan Avenue area relocated to the suburbs in the 1960s and 70s, many of the old buildings were converted into workspaces for artisans and technology-based enterprises.

Eclectic shops, galleries, trendy restaurants and nightclubs were attracted to the area to service the hip, young crowd, transforming King West into a desirable residential neighbourhood.

“It’s become a cool spot,” especially among first-time buyers looking for a downtown lifestyle, says Linda Mitchell, vice-president of high-rise sales and marketing for Monarch, which is building Liberty Village there.

“Even though it’s a new community with new construction, there’s a nice balance and mix of old buildings,” Ms. Mitchell adds.

The third and final phase in Monarch’s project — called Vibe — consists of condos and two-storey lofts. The collection offers popular designs from previous phases, including wide and shallow plans with expansive windows and balconies that are six feet deep.

“The layout … gives you a lot more natural light and makes the living room feel more spacious,” she says.

To celebrate 90 years in business, Monarch began a 90-day promotion on April 1 that offers 1 per cent of the purchase price on units at its 12 high-rise and 16 low-rise communities across Southern Ontario.

The first phase of the community is virtually sold out and occupied, while the second phase is under construction, with only 20 units left.

Vibe, a 24-storey glass tower will have a five-storey brick and glass podium filled with shops, recreational facilities and residential suites.

“We didn’t mess with success too much to come up with Vibe,” says Ms. Mitchell, who explains that its design is similar to the first two buildings, which both contain more than 300 units.

A pedestrian bridge will link Vibe to the first tower, which, in turn, will be connected to the second building.

Vibe will incorporate several “green” features, such as a green roof on the podium and an automated recycling system. Suites will have Energy Star appliances, and water-saving, low-flow showerheads and faucets.

Standard features include strip laminate flooring and 40-ounce broadloom; granite countertops, pantries and breakfast bars in the kitchens; and bathrooms with cultured marble countertops, soaker tubs and shower stalls with framed glass doors.

There will be a monthly fee of 43 cents a square foot; heat and hydro will be individually metered.

Among the amenities are a 24-hour concierge, guest suites and a car-wash bay. A games lounge and party room with a kitchen and bar will be adjacent to a landscaped patio.

Vibe will also have a fitness room, sports and Internet lounges, and a theatre with cinema-style seating, which will be shared with residents of the other towers.

Residents of Vibe will be able to use facilities elsewhere in the complex, such as the indoor pool and whirlpool.

PROJECT: Vibe

LOCATION: Liberty Village

BUILDER: Monarch

PRICE: $159,990 to more than $400,000

SIZE: 380-square-foot studios to 900-square-foot two-bedroom units, along with penthouses measuring 1,100 square feet

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Contact the Jeffrey Team for more information