Toronto Condo and Real Estate Blog

From New Homes & Condos Magazine

The story opens with the fashionista and the stockbroker living side-by-side in bliss: not so far-fetched if you stroll around Liberty Village on any given day.

The story unfolds as stories do: these two live at Bliss, CanAlfa’s latest offering in Liberty Village, a 20-storey condominium tower on East Liberty Street. She’s in the 1,079 square foot penthouse suite – she needs room for her shoes, bags and accessories, don’t you know, while he’s opted for one of the two suites inspired by Mike Niven, the 1,107 square foot, two-storey loft, because he likes everything done, and done beautifully. She’s on her way to get her nails done at the salon down the street; he’s on his way to the gym before heading out to Dominion. It’s a Saturday, they wear jeans, they’re relaxed. Their hands reach for the elevator key pad at the same time, a lingering gaze, and they head to Balzac’s for coffee instead.

Anything is possible now.

Because unorthodox mix is what this community is all about, a mix of types from artists, to filmmakers, to computer geeks, the self-employed to the Bay Street lawyers and financiers.

A mix of architecture, from the gracious old Victorian homes nearby, brought back to original glory from former rooming house days, to the cutting-edge designs of converted warehouse loft housing with townhomes and new condo towers dotting the landscape.

A mix of styles are nearby, from the old haberdashers of Queen Street West to the culinary likes of Susur and Lee, and the fashion forward furniture shops of King West.

Residents claim they’re blessed and blissed, because nowhere else in the city is so down to earth and exciting. Run along the Martin Goodman Trail, stroll barefoot by the lake, take in the city views, window shop on Queen West, gnosh at any of the new trendy cafés, clubs and restaurants, join the throng of pedestrians out at lunch or after work, rub elbows with hot dog vendors and style mavens alike.

There are services galore, sprouting up as Liberty Village has developed into a veritable hub for grocery stores, restaurants, pet stores and banks. Greenspace leads into everything and several parks are starting to take shape; homes don’t just hold value, they’re increasing steadily.

The village is also home to a booming industry in film, graphic arts, and design, a mushrooming retail sector, and just 12 minutes by transit to financial and theatre districts. In fact, Liberty Village can support itself.

Vision is what gave birth to this whole area — when Walter Jensen looked out over desolate industrial lands south of King Street West and west of Strachan Avenue some 20 years ago, he saw a community.

But it was a vision fuelled by a century or more of Toronto history: nearby is Fort York, and on the site itself are the remains of industries which once powered the city’s industrial engine – Massey Ferguson, Inglis, A. R. Williams Machinery.

Says Jensen, “I could also clearly see what it could become.” Two decades later, his carefully planned community provides affordable, stylish housing to a broad range of people.

It’s people like our blissed-out fashionista and her stockbroker who say, as they raise a glass of bubbly, it’s a great place to live.

New Homes & Condos Magazine is an excellent source of housing information for those looking for information on new condos and lofts in Ontario, Canada. We offer the most up-to-date information on new communities across the Greater Toronto Area.

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Understanding the policies when buying your new Toronto condo

By Debbie Arnold - New Dream Homes and Condos

Congratulations! You’ve just purchased an incredible condo and are joining the elite club of Toronto condo owners! You are about to enter into a new and exciting lifestyle that is becoming increasingly popular in Southern Ontario!

Along with selecting floor plans, tile and carpet options, window treatments and furniture to compliment this new beginning, you should also consider how you can best protect your investment. Although your condo fees include building insurance, that coverage will not extend to the inside walls of your unit or anything contained therein.

All too often, in the flurry of a new property purchase, unit owners neglect to review their insurance options, if they consider them at all. Many purchasers are under the misguided impression that their monthly fees will cover their unit from loss. Unfortunately, this is not the case.  Only a personal Condominium Insurance Policy will protect the unit owner from loss or damage to their personal property.

A proper Condominium Package Policy will cover far more than just your personal property. It will provide coverage for any improvements and betterments you make to your unit, as well as protection against loss assessments and contingency coverage. Finally, it will protect against any damage you cause to others accidentally with liability insurance. All of this coverage is available at a very low cost.

Pricing for condominium package policies is primarily based on the amount of content coverage you wish to purchase. Most insurers will have a minimum amount of at least $25,000. To first-time buyers, this may seem like an outrageous amount. However, when you consider all of your furniture, clothing, dishes, pots and pans, lamps, computers, televisions, etc., you will find that to replace all of these items, that figure is not so ludicrous.

The best way to determine the actual amount of coverage required is by completing an inventory of your property while packing to move into your new unit. This will not only provide a more accurate picture of your requirements, but will also be an invaluable tool in the event of a claim. The onus is always upon the policyholder to prove their loss. Accordingly, it is also a good idea to retain any receipts for furnishings and artwork.

The next item to consider is whether you plan to make any alterations or additions to the unit you have purchased. For example, the standard unit described in the condominium corporation’s articles has ceramic tile in the master bathroom. You have decided to replace this with granite. The cost of this improvement is a few thousand dollars. Therefore, you need to be certain that your condominium policy will cover any improvement or betterment to the unit and to what extent.

Another element of your policy requiring review is Loss Assessments and Condominium Contingency Coverage. The Condominium Corporation’s Master Policy will cover damage to the outside walls of the structure and any common areas. However, if their coverage is insufficient or does not cover a particular peril, each unit owner will be assessed a portion of the loss. Furthermore, the master policy may have a high deductible, in which case, each unit owner will be responsible to pay a portion.

Finally, the package policy will protect from suits brought against you due to accidental or negligent damage you cause to others. For example, you accidentally leave the tap running in the bathroom. The sink overflows and causes a leak in your downstairs neighbour’s bathroom. This causes significant damage to the new vanity they just installed as well as the new granite flooring. Your neighbour’s insurance carrier will sue you for this damage. The liability coverage provided by your Condominium Package Policy will respond.

Now that you’re aware of how necessary this type of policy is, the next question is “where do I purchase the coverage?”

When shopping the marketplace for this type of policy, it is always best to start with the agent or broker you already have a policy with. You can usually combine this policy with your automobile insurance and receive multi-policy discounts. If you do not have an agent or broker, ask a family member, friend or co-worker who they use. Your personal insurance should be placed with a reputable company you can trust, that provides prompt and efficient service and expert advice.

Debbie Arnold is the Director of Group Personal Insurance Services with Rocca Dickson Andreis Ltd. with more than 20 years of experience in the field.  This is a first of many articles focusing on insurance needs of home and condominium owners which is brought to you by Richard E. Sist, MBA an Associate with Rocca Dickson Andreis Ltd. specializing in Group Benefits & Pensions.  www.rdainsurance.com

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Tridel is pleased to introduce ‘The Republic’ of Yonge and Eglinton - a fitting new name for a visionary condo community that will be part of the North Toronto Collegiate Institute redevelopment masterplan. Our readers selected this name when invited to submit their ideas during our community naming process.

We firmly believe that a name reflects the inspiration and spirit of the community, so when during the poll, a significant number of individuals selected The Republic, we felt that the essence of our vision was realized; for the word Republic, quite literally means the coming together of like minded individuals who share in the creation of their community, of their society. Timeless and sophisticated in its connotation, The Republic resonates with a vibrancy that captures the unique identity of the Yonge and Eglinton neighbourhood.

We share in the excitement that is building and we look forward to your continued participation as the design of these visionary condo residences unfold. Thank you to everyone who submitted their creative ideas and helped us choose this ideal community name.

Welcome home to The Republic of Yonge and Eglinton.

The Republic’s innovative condo residences will echo a similar design-forward language. Alessandro Munge of Munge/Leung Design Associates has taken a fresh approach to amenity spaces by integrating distinctive layouts, unique material uses and finishes to consummate an urbane design statement that works smartly offering homeowners an experience in both aesthetics and function. We have included a preliminary concept of one of the recreation amenity spaces that demonstrate the type and range of activities and finishes you can look forward to enjoying at The Republic.

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