Toronto Condo and Real Estate Blog

In the wake of a slew of successful east-end developments, Lamb Development Corporation has added yet another hot property to its list – Flatiron Lofts, the second phase to Worklofts, which is expected to garner just as much attention.

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Rising at the corner of Dundas and Carlaw, the project’s location is undeniably hot, attracting buyers with an affinity for Toronto’s east end district – The Beach, Riverdale, Leslieville – both for its pace, and its price, says Brad Lamb, President and CEO of Lamb Development Corporation, the developer behind the Flatiron Lofts project. “A lot of people are starting to notice Carlaw Street as a very vibrant corridor that’s a lot less expensive than downtown.”

Take it from Lamb – this broker-turned-developer knows what sells, and why. “We’ve done marketing for Printing Factory Lofts, Garment Factory Lofts, and three townhouse projects a stone’s throw from this Carlaw-Dundas-Queen area, and they were all very successful. This is just the next generation of properties here to finish this street up.”

To put the finishing touches on this trendy neighbourhood, Lamb enlisted the help of Charles Gane of Core Architects to make the most of the property’s irregular shape, its location, and its endless possibilities for exterior and interior details. The result, says Lamb, is a “beautiful building shaped like a wedge, driving the intersection, and creating an entrance to the neighbourhood.”

In fact, Flatiron Lofts takes its name from the building’s shape, which is something of a rarity. “There are very few buildings around the world that have this flatiron shape, and we thought it would be a very cool thing for that corner,” says Lamb.

Like Worklofts, Flatiron Lofts will offer both residential lofts and commercial lofts, notes Shakeel Walji of The Walsh Group, the ad agency for the new development. “Brad has made a conscious effort to keep the business area active on Carlaw Street.”

In light of that, Flatiron Lofts is a glass-and brick structure rising 10 floors. The first floor is devoted to retail and the second floor are commercial studio lofts. The third to tenth floors house 85 residential lofts. Starting from 455 sq. ft., layouts include one-bedroom, one-bedroom-plus-den, two-bedroom and two-bedroom-plus-den layouts. Topping off the project, a 1,400-sq.-ft. sub-penthouse and a 2,200-sq.-ft. penthouse offer permanently unobstructed and awe-inspiring panoramic views of the city skyline.

This unique flatiron shape of the building allows for what Lamb calls “wide shallow lofts.” As opposed to typical 15 ft. wide and 45 ft. deep layouts, which often result in dark spaces, Flatiron Lofts offers units that are 20 ft. deep and 25 or 30 ft. wide, maximizing on windows and natural light, creating a bright and open feeling.

Whether you’re looking at a penthouse or one of the smaller suites, Lamb has outfitted each unit with nine-ft. ceilings, floor-to-ceiling windows, and finishes that would be considered upgrades by any other standard.

Kitchen feature double-thick stone counters, high-gloss European cabinetry, and gas cooking with quality stainless steel GE appliances. Bathrooms boast what Lamb calls “designer magazine-style” vanities and fixtures. “They’re just beautiful.” Floors are finished in 12-by-24-inch tile. Fifty per cent of the suites offer balconies, terraces and patios, which are outfitted with natural gas for year-round barbecuing.

Commercial studios at Flatiron Lofts start at a price of $179,000, while residential lofts start from $199,900. With the plans starting to take shape, and move-in dates slated for 2010, buyers wanting to make this coveted east-end neighbourhood home should hurry.

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Contact the Jeffrey Team for more information - 416-388-1960

GTA resale housing market moderate last month, but prices up

With 8,762 houses sold in the Greater Toronto Area, April’s resale housing activity was down only 7% from the record 9,452 transactions from the same timeframe a year ago, Toronto Real Estate Board President Maureen O’Neill announced today.

“The market is showing signs for a healthy 2008 compared to the diminished activity we saw in the first quarter of the year,” said Ms. O’Neill. “We continue to experience a supply and demand situation and to-date, it remains a sellers market.”

Sales activity however, was markedly different in the 416 and 905 regions. With 3,467 transactions in the City of Toronto, sales were down 10% from a year ago. The 905 region was down 5% from April 2007 sales, with 5,295 homes changing hands.

April’s GTA average price was $398,687, up 8% from the same period a year ago. In the City of Toronto, the average price was $446,781, up 6% from last April. In the 905 region the average price increased 5% compared to a year ago, to $367,196.

Several neighbourhoods experienced strong sales in April.

Scarborough East (E08) saw an 8% overall sales increase compared to April 2007, driven by robust detached home sales.

Caledon (W28) experienced a 15% increase compared to the same timeframe a year ago as a result of strong condominium sales.

Condominium sales also drove Willowdale (C07) to a 32% increase from a year ago.

In Thornhill sales increased 8% from last April due to strong detached home sales.

“The number of listings on the Toronto Real Estate Board’s Multiple Listing Service has increased to 24,539, up 7% from a year ago, which is good for homebuyers, who will find a greater range of options in the market,” said Ms. O’Neill.

“With prices continuing to appreciate and increased listing inventory there are favourable factors in today’s market for consumers.”

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Contact the Jeffrey Team for more information - 416-388-1960

More Authentic Live/Work Lofts Come to Carlaw Avenue

Atria Developments is just completing the Garment Factory Lofts, a new live/work industrial conversion that has revitalized 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 facade 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 hard loft offers a glazed balcony or spacious terrace with amazing views.

The Garment Factory Lofts features 150 authentic 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. Ranging in size from 525 to 1,303 square foot, they offer some of the lowest prices per square foot of any authentic loft in the city.

Some of the lofts contain 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 kitchens will feature modern Wenge-stained cabinetry, a stone backsplash and island with a stone top. There is also 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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Contact the Jeffrey Team for more information - 416-388-1960